8-K
LENNAR CORP /NEW/ (LEN)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
November 12, 2025
Date of Report (Date of earliest event reported)
LENNAR CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 1-11749 | 95-4337490 |
|---|---|---|
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
5505 Waterford District Drive, Miami, Florida 33126
(Address of principal executive offices) (Zip Code)
(305) 559-4000
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Class A Common Stock, par value $.10 | LEN | New York Stock Exchange |
| Class B Common Stock, par value $.10 | LEN.B | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 12, 2025, Jonathan M. Jaffe, who joined Lennar Corporation (the “Company”) in 1983 and who has served as Co-Chief Executive Officer and President of the Company since September 2023, notified the Board of Directors (the “Board”) of the Company of his decision to retire as Co-Chief Executive Officer and President of the Company and accordingly, to resign as a director of the Board of the Company, in each case, effective as of December 31, 2025. The Company does not intend to seek a replacement for Mr. Jaffe’s position at this time. In connection with Mr. Jaffe’s resignation as a director on the Board, the Board intends to reduce its size from ten members to nine members, effective as of December 31, 2025.
Stuart Miller, currently the Executive Chairman and a Co-Chief Executive Officer of the Company, will continue as the Company’s Executive Chairman and Chief Executive Officer following Mr. Jaffe’s retirement.
Item 7.01. Regulation FD Disclosure.
A copy of the press release announcing Mr. Jaffe’s retirement is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Item 7.01.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is filed as part of this Current Report on Form 8-K.
| Exhibit No. | Description of Document |
|---|---|
| 99.1 | Press release issued by Lennar Corporation on November 14, 2025. |
| 104 | Cover Page Interactive Data File--the cover page XBRL tags are embedded within the Inline XBRL document. |
SIGNATURES
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 hereunto duly authorized.
| Date: November 14, 2025 | Lennar Corporation | |
|---|---|---|
| By: | /s/ Diane Bessette | |
| Name: | Diane Bessette | |
| Title: | Vice President and Chief Financial Officer |
Document
Exhibit 99.1
Contact: Ian Frazer
Investor Relations
Lennar Corporation
(305) 485-4129
FOR IMMEDIATE RELEASE
Lennar Announces the Retirement of Jonathan Jaffe, Co-CEO and President
MIAMI, November 14, 2025 – Lennar Corporation (NYSE: LEN and LEN.B), one of the nation’s leading homebuilders, today announced that Lennar Co-Chief Executive Officer and President Jon Jaffe will retire effective December 31, 2025, following a distinguished 42-year career with the Company, and he will also step down from his role as a Director of the Board of the Company. After Mr. Jaffe’s retirement, Stuart Miller will continue to serve as Executive Chairman and serve as Chief Executive Officer of Lennar, with no plans to replace Mr. Jaffe’s role.
Mr. Jaffe joined Lennar in 1983 as an assistant superintendent in Tampa, and through decades of hard work, unwavering commitment, and numerous value-add successes, rose through the organization to become Co-CEO and President. Throughout his tenure, Mr. Jaffe exemplified a relentless focus on operational excellence and execution, guiding Lennar through defining moments and driving its national expansion, notably in California. His leadership was instrumental in integrating landmark acquisitions across the country, and in steering the Company through challenges from Hurricane Andrew to the Great Recession with resilience and strength.
“Jon has been a driving force behind Lennar’s success,” said Mr. Miller. “His dedication, work ethic, and operational focus have provided mentorship and shaped our company into what it is today. Throughout his tenure, Jon has been a true warrior for Lennar and a trusted partner to me and to many across the business. Jon’s retirement and its timing reflect the need for Lennar to remake our organizational and cost structure to enable us to build more affordable and attainable homes. As we continue to evolve—embracing technology, driving efficiency, and positioning for the future—Jon’s legacy will serve as both foundation and inspiration for Lennar’s ongoing transformation.”
Mr. Jaffe added: “It has been a privilege and a passion to spend more than 40 years at Lennar, working with such talented and dedicated people to help build this organization into one of the nation’s leading homebuilders. I’m proud of all we’ve accomplished together and grateful for the opportunity to have played a part in that success. With today’s market realities, my retirement allows Lennar to streamline leadership at the top and continue creating efficiencies in our management structure to promote affordability. Though I’m departing an active role in the company, I’ve never been more excited about Lennar’s future.”
This transition sets the stage for the Company’s next phase – a strategic evolution into a leaner, more efficient, technology-driven enterprise focused on building a healthier housing market and helping more families achieve the dream of homeownership.
About Lennar Corporation
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. Lennar builds affordable, move-up and active adult homes primarily under the Lennar brand
name. Lennar's Financial Services segment provides mortgage financing, title and closing services primarily for buyers of Lennar's homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout the United States. Lennar's Multifamily segment is a nationwide developer of high-quality multifamily rental properties. LENX drives Lennar's technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com.