SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
AMES MARSHALL H
(Last) (First) (Middle)
LENNAR CORPORATION
700 NW 107 AVENUE STE 400
(Street)
MIAMI FL 33172
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LENNAR CORP /NEW/ [ LEN,LEN.B ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Vice President
3. Date of Earliest Transaction (Month/Day/Year)
04/14/2006
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 04/14/2006 A 1,995(1) A $0 113,815 D
Class A Common Stock 712 I By IRA Trust
Class A Common Stock 9,512 I By ESOP Trust
Class B Common Stock 18,940 D
Class B Common Stock 70 I By IRA Trust
Class B Common Stock 950 I By ESOP Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $8.235 11/03/2006(2) 11/03/2007 Class A Common Stock 15,000 15,000 D
Stock Option (Right to Buy) $18.32 03/06/2005 03/06/2011 Class A Common Stock 4,200 4,200 D
Stock Option (Right to Buy) $26.32 01/25/2006(3) 01/25/2012 Class A Common Stock 4,200 4,200 D
Stock Option (Right to Buy) $27.845 01/23/2004(3) 01/23/2008 Class A Common Stock 36,000 36,000 D
Stock Option (Right to Buy) $46.42 12/17/2004(3) 12/17/2008 Class A Common Stock 18,000 18,000 D
Stock Option (Right to Buy) $55 12/16/2005(3) 12/16/2009 Class A Common Stock 10,000 10,000 D
Stock Option (Right to Buy) $62.675 01/05/2007 01/05/2011 Class A Common Stock 10,000 10,000 D
Class A Common Stock(5) $0 08/08/1988(6) 08/08/1988(6) Class A Common Stock 16,000 16,000 D
Stock Option (Right to Acquire) $0 11/03/2006 11/03/2007 Class B Common Stock 1,500(4) 1,500 D
Stock Option (Right to Acquire) $0 03/06/2005 03/06/2011 Class B Common Stock 421(4) 421 D
Stock Option (Right to Acquire) $0 01/25/2006 01/25/2012 Class B Common Stock 420(4) 420 D
Stock Option (Right to Acquire) $0 01/23/2004(3) 01/23/2008 Class B Common Stock 3,600(4) 3,600 D
Class B Common Stock(5) $0 08/08/1988(6) 08/08/1988(6) Class B Common Stock 1,600 1,600 D
Explanation of Responses:
1. Restricted shares granted on 4/14/06 and are subject to forfeiture. The shares vest and are no longer subject to forfeiture, in three equal installments beginning on the first anniversary of the grant date.
2. Stock options granted vest in nine annual installments. 10% of the stock options granted become exercisable on the first eight anniversaries of the grant date and the remaining 20% become exercisable on the ninth anniversary of the grant date.
3. Stock options granted become exercisable in four annual installments. 10% of the stock options become exercisable on the first anniversary of the grant date and 30% of the stock options become exercisable on each of the next three anniversaries of the grant date.
4. Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock.
5. Contractual right to receive shares in the future.
6. No activity is being reported. The SEC staff has designated 8/8/88 as a "dummy date." Information is included to disclose holding following the reported transactions or other holdings not affected by the reported transactions.
Michael Francis as Attorney-In-Fact for Marshall H. Ames 04/18/2006
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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