Lennar (LEN) Proxy Filing summary

Executive summary

• Annual meeting scheduled for April 9, 2025, will be held virtually, with voting available online, by phone, mail, or during the meeting.

• Key proposals include election of 10 directors, advisory vote on executive compensation, ratification of Deloitte & Touche LLP as auditor, and three shareholder proposals.

• Board recommends voting for all director nominees, executive compensation, and auditor ratification, but against all three shareholder proposals.

Voting matters and shareholder proposals

• Proposal 1: Elect 10 directors to serve until the 2026 annual meeting.

• Proposal 2: Advisory approval of executive compensation (say-on-pay).

• Proposal 3: Ratification of Deloitte & Touche LLP as independent auditor for fiscal 2025.

• Proposal 4: Shareholder proposal for an independent board chairman; Board recommends against.

• Proposal 5: Shareholder proposal for disclosure on reducing greenhouse gas emissions; Board recommends against.

• Proposal 6: Shareholder proposal for LGBTQIA+ equity and inclusion disclosure; Board recommends against.

Board of directors and corporate governance

• Board reduced from 11 to 10 members following a director's decision not to stand for re-election.

• All non-management directors are independent; committees are composed entirely of independent directors.

• Board leadership includes an Executive Chairman/Co-CEO and an independent Lead Director.

• Board committees: Audit, Compensation, Nominating and Corporate Governance, Executive, and Independent Directors Transactions.

• Annual board and committee evaluations, robust stock ownership guidelines, and a code of business ethics are in place.