Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: The following table provides information about our repurchases of common stock during the three months ended August 31, 2021:
+Added: The following table provides information about our repurchases of common stock during the three months ended February 28, 2022:
Total Number of Shares Purchased (1) Average Price Paid Per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (2) Maximum Number of Shares that may yet be Purchased under the Plans or Programs (2)
−Removed: June 1 to June 30, 2021 390,000 $ 97.33 390,000 23,100,000
−Removed: July 1 to July 31, 2021 1,794,778 $ 97.62 1,794,778 21,305,222
−Removed: August 1 to August 31, 2021 635,739 $ 103.17 315,222 20,990,000
+Added: December 1 to December 31, 2021 551,364 $ 108.31 551,364 20,857,596
+Added: January 1 to January 31, 2022 4,352,900 $ 100.65 4,352,900 16,504,696
+Added: February 1 to February 28, 2022 962,047 $ 86.65 363,736 16,140,960
(1) Includes shares of Class A common stock withheld by us to cover withholding taxes due, at the election of certain holders of nonvested shares, with market value approximating the amount of withholding taxes due.
−Removed: (2) In January 2021, our Board of Directors authorized a stock repurchase program, which replaced a January 2019 stock repurchase program, under which we are authorized to purchase up to the lesser of $1.0 billion in value, excluding commission, or 25 million in shares, of our outstanding Class A or Class B common stock.
−Removed: This repurchase authorization has no expiration.
+Added: (2) In October 2021, the Board of Directors authorized an increase to our stock repurchase program to enable us to repurchase up to the lesser of an additional $1 billion in value, or 25 million in shares, of our outstanding Class A or Class B common stock.
+Added: As a result of prior authorizations being almost exhausted, in March 2022, our Board of Directors approved an additional authorization for us to repurchase up to the lesser of $2 billion in value, or 30 million in shares, of our outstanding Class A or Class B common stock.
+Added: The repurchase authorization has no expiration date.
Not Applicable
+Added: 10.1*** Lennar Corporation 2016 Incentive Compensation Plan, as Amended and Restated effective January 12, 2022 - Incorporated by reference to Exhibit 10.2 of the Company’s Annual Report on Form 10-K for the fiscal year ended November 30, 2021.
+Added: 10.2*** 2022 Award Agreements under the Company’s 2016 Incentive Compensation Plan, as amended, for Mr.
+Added: Beckwitt, Mr.
+Added: Bessette, Mr.
+Added: McCall and Mr.
+Added: Sustana - Incorporated by reference to Exhibit 10.1 of the Company’s Current Report on Form 8-K, dated February 28, 2022.
+Added: 10.3*** Form of 2022 Award Agreement under the Company’s 2016 Equity Incentive Plan for Mr.
+Added: Beckwitt, Mr.
+Added: Bessette and Mr.
+Added: McCall - Incorporated by reference to Exhibit 10.2 of the Company’s Current Report on Form 8-K, dated February 28, 2022.
31.1* Rule 13a-14(a) certification by Rick Beckwitt.
3 unchanged sentences
Jaffe, and Diane Bessette.
−Removed: 101.* The following financial statements from Lennar Corporation's Quarterly Report on Form 10-Q for the quarter ended August 31, 2021, filed on October 1, 2021, were formatted in iXBRL (Inline eXtensible Business Reporting Language):
−Removed: (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), (iii) Condensed Consolidated Statements of Cash Flows and (iv) the Notes to Condensed Consolidated Financial Statements.
+Added: 101.* The following financial statements from Lennar Corporation's Quarterly Report on Form 10-Q for the quarter ended February 28, 2022, filed on April 1, 2022, were formatted in iXBRL (Inline eXtensible Business Reporting Language):
+Added: (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Operations and Comprehensive Income, (iii) Condensed Consolidated Statements of Cash Flows and (iv) the Notes to Condensed Consolidated Financial Statements.
101.INS* iXBRL Instance Document.
4 unchanged sentences
101.PRE* iXBRL Taxonomy Presentation Linkbase Document.
−Removed: 104** The cover page from Lennar Corporation's Quarterly Report on Form 10-Q for the quarter ended August 31, 2021 was formatted in iXBRL.
+Added: 104** The cover page from Lennar Corporation's Quarterly Report on Form 10-Q for the quarter ended February 28, 2022 was formatted in iXBRL.
* Filed herewith.
** Included in Exhibit 101.
+Added: *** Management contract or compensatory plan or arrangement.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Lennar Corporation
−Removed: October 1, 2021 /s/ Diane Bessette
+Added: April 1, 2022 /s/ Diane Bessette
Diane Bessette
Vice President, Chief Financial Officer and Treasurer
−Removed: October 1, 2021 /s/ David Collins
+Added: April 1, 2022 /s/ David Collins
David Collins
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.