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Lennar Executive Compensation (FY25)

LEN · Miami, FL · Executive and director compensation, fiscal 2023 to 2025
Data as of September 7, 2026Latest filing (8-K): April 13, 2026
280 figures on this page: 269 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Stuart Miller, Executive Chairman and Chief Executive Officer, received $29,527,931 in total compensation for fiscal 2025, and Miller's total was 0.1% lower than the $29,546,675 reported for fiscal 2024. Meanwhile, the company reported a chief executive pay ratio of 284:1 for fiscal 2025, against median employee compensation of $103,701. Separately, shareholders recorded 90.2% support for the say-on-pay proposal at the meeting held April 8, 2026 for fiscal 2025. Companies named in the disclosed peer group include D.R. Horton, Inc., KB Home, Meritage Homes Corporation, NVR, Inc. and PulteGroup, Inc., among others.
Chief executive, fiscal 2025
◇
Stuart Miller
Median of the other named officers
$8,020,171
5 officers, excluding the chief executive
Latest say-on-pay support
=
April 8, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Stuart Miller: $29,546,675 → $29,527,931 (0.1% lower)
CEO pay ratio: 306:1 → 284:1 (7.2% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Lennar's chief executive and what were they paid?
Stuart Miller, Executive Chairman and Chief Executive Officer, received $29,527,931 in total compensation for fiscal 2025. Miller's total was 0.1% lower than the $29,546,675 reported for fiscal 2024.
What was Lennar's say-on-pay result?
Shareholders recorded 90.2% support for the say-on-pay proposal at the meeting held April 8, 2026 for fiscal 2025.
Which companies are in Lennar's peer group?
Companies named in the disclosed peer group include D.R. Horton, Inc., KB Home, Meritage Homes Corporation, NVR, Inc. and PulteGroup, Inc., among others.
What is Lennar's chief executive pay ratio?
The company reported a chief executive pay ratio of 284:1 for fiscal 2025, against median employee compensation of $103,701.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Rick Beckwitt
Former Co-Chief Executive Officer and Co-President
Departed during or after this year
◇—◇———◇◇
Stuart Miller
Executive Chairman and Co-Chief Executive Officer
◇—◇—◇—◇◇
Jonathan Jaffe
Co-Chief Executive Officer and President
◇—◇—◇—◇◇
Diane Bessette
Vice President, Chief Financial Officer and Treasurer
◇—◇—◇—◇◇
Jeff McCall
Executive Vice President
◇—◇—◇—◇◇
Mark Sustana
Vice President, General Counsel and Secretary
◇—◇—◇—◇◇
David Collins
Vice President and Controller
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stuart Miller
Executive Chairman and Co-Chief Executive Officer
◇—◇—◇—◇◇
Jonathan Jaffe
Co-Chief Executive Officer and President
◇—◇—◇—◇◇
Diane Bessette
Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Mark Sustana
Vice President, General Counsel and Secretary
◇—◇—◇—◇◇
Jeff McCall
Former Executive Vice President
Departed during or after this year
◇—◇———◇◇
David Collins
Vice President and Controller
◇◇◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stuart Miller
Executive Chairman and Chief Executive Officer
◇—◇—◇—◇◇
Jonathan Jaffe
Former Co-Chief Executive Officer and President
Departed during or after this year
◇—◇———◇◇
Diane Bessette
Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Katherine Martin
Chief Legal Officer and Corporate Secretary
◇◇◇—◇—◇◇
Mark Sustana
Former Vice President, General Counsel and Secretary
Departed during or after this year
◇—◇———◇◇
David Collins
Vice President and Controller
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
David CollinsRSU◇——◇——◇
Diane BessettePSU◇— withheld◇◇◇—◇
Jonathan M. JaffePSU◇— withheld◇◇◇—◇
Katherine Lee MartinPSU◇◇◇◇◇—◇
Katherine Lee MartinRSU◇——◇——◇
Mark SustanaRSU◇——◇——◇
Stuart MillerPSU◇— withheld◇◇◇—◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Katherine MartinRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
David CollinsRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Diane BessetteRSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Jonathan JaffePSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Stuart MillerRSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Sherrill W. Hudson
◇◇———◇◇
Armando Olivera
Lead independent director
◇◇———◇◇
Jeffrey Sonnenfeld
◇◇———◇◇
Tig Gilliam
◇◇———◇◇
Teri P. McClure
◇◇———◇◇
Serena Wolfe
◇◇———◇◇
Amy Banse
◇◇———◇◇
Dacona Smith
◇◇———◇◇
Sidney Lapidus
◇◇———◇◇
Stuart Miller served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Lead independent director premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as Stock.
Stock ownership guideline: 6x annual director retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • D.R. Horton, Inc. DHI
  • KB Home KBH
  • Meritage Homes Corporation MTH
  • NVR, Inc. NVR
  • PulteGroup, Inc. PHM
  • Taylor Morrison Home Corporation TMHC
  • Toll Brothers, Inc. TOL
  • TRI Pointe Group, Inc. TPH

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 8, 2026=◇◇◇
2024April 9, 2025=◇◇◇
2023April 10, 2024=◇◇◇
2022April 12, 2023=◇◇◇
2021April 12, 2022=◇◇◇
2020April 7, 2021=◇◇◇
2019April 7, 2020=◇◇◇
2018April 10, 2019=◇◇◇
2017April 11, 2018=◇◇◇
2016April 18, 2017=◇◇◇
2015April 13, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Lennar disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Lennar sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
280 figures on this page: 269 cited to the filing that reported them, 11 calculated from figures it prints.
269 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001628280-26-024894
  2. 0001193125-24-051712
    Summary Compensation Table
  3. 0001193125-26-073504
    CEO Pay Ratio · COMPENSATION PAY MIX ( · Director Compensation · Grants of Plan-Based Awards · and 2 more sections
  4. 0001628280-25-017410
  5. 0001193125-25-040938
    Summary Compensation Table
  6. 0001628280-24-015846
  7. 0001628280-23-011615
  8. 0001628280-22-009207
  9. 0001628280-21-006739
  10. 0001628280-20-004763
  11. 0001628280-19-004121
  12. 0001628280-18-004216
  13. 0001628280-17-003924
  14. 0001628280-16-014270
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Velarion, “Lennar executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/LEN (accessed 2026).
Short form: data: Velarion
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Real Estate rankings

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Peers Lennar discloses

The companies named in LEN's own disclosed peer group.

D.R. Horton, Inc.KB HomeMeritage Homes CorporationNVR, Inc.PulteGroup, Inc.Taylor Morrison Home CorporationToll Brothers, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  The Pay Desk · Methodology · Terms · Privacy