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*
PEKOR ALLAN J
(Last) (First) (Middle)
700 NORTHWEST 107TH AVENUE
(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)
03/19/2004
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 03/19/2004 M 6,000 A $26.32 0 D
Class B Common Stock 03/19/2004 M 600 A $0(4) 0 D
Class A Common Stock 03/19/2004 M 3,860 A $8.25 0 D
Class B Common Stock 03/19/2004 M 386 A $0(4) 0 D
Class A Common Stock 03/19/2004 M 6,000 A $27.845 0 D
Class B Common Stock 03/19/2004 M 600 A $0(4) 0 D
Class A Common Stock 03/19/2004 M 6,000 A $18.32 0 D
Class B Common Stock 03/19/2004 M 600 A $0(4) 0 D
Class A Common Stock 03/19/2004 M 2,142 A $8.25 0 D
Class B Common Stock 03/19/2004 M 214 A $0(4) 0 D
Class A Common Stock 03/19/2004 S 21,860 D $53.99 59,878 D(1)
Class B Common Stock 03/19/2004(5) 03/22/2004(5) S 2,186 D $50.15 6,404 D(2)
Class A Common Stock 11,734 I By ESOP Trust
Class B Common Stock 1,172 I By ESOP Trust
Class A Common Stock 258 I By IRA Trust
Class B Common Stock 24 I By IRA 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
Option $26.32 03/19/2004 M 6,000 01/25/2004 01/25/2012 Class A Common Stock 6,000 $0 0 D
Option $0(4) 03/19/2004 M 600 01/25/2004 01/25/2012 Class B Common Stock 600 $0 0 D
Option $8.25 03/19/2004 M 3,860 02/07/2004 02/07/2010 Class A Common Stock 3,860 $0 0 D
Option $0(4) 03/19/2004 M 386 02/07/2004 02/07/2010 Class B Common Stock 386 $0 0 D
Option $27.845 03/19/2004 M 6,000 01/23/2004 01/23/2008 Class A Common Stock 6,000 $0 0 D
Option $0(4) 03/19/2004 M 600 01/23/2004 01/23/2008 Class B Common Stock 600 $0 0 D
Option $18.32 03/19/2004 M 6,000 03/06/2004 03/06/2011 Class A Common Stock 6,000 $0 0 D
Option $0(4) 03/19/2004 M 600 03/06/2004 03/06/2011 Class B Common Stock 600 $0 0 D
Option $8.25 03/19/2004 M 2,142 02/07/2004 02/07/2010 Class A Common Stock 2,142 $0 0 D
Option $0.00(4) 03/19/2004 M 214 02/07/2004 02/07/2010 Class B Common Stock 214 $0 0 D
Option $0(3) 08/08/1988(3) 08/08/1988(3) Class A Common Stock 112,000 112,000 D
Option $0(3) 08/08/1988(3) 08/08/1988(3) Class B Common Stock 11,200 11,200 D
Explanation of Responses:
1. Includes 36,000 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, with shares vesting at the rate of 18,000 on each of 6/22/04 and 6/22/05.
2. Includes 3,600 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, with shares vesting at the rate of 1,800 on each of 6/22/04 and 6/22/05.
3. No activity is being reported. The SEC staff has designated 8/8/1988 as a "dummy date". Information is included to disclose holdings following the reported transactions or other holdings not affected by the reported transactions.
4. The Class B Common Stock was issued as a result of anti-dilution provisions with regard to exercises of options that originally related to Class A Common Stock.
5. The sale of the Class B Common Stock was not completed until March 22, 2004.
Benjamin P. Butterfield as Attorney-In-Fact for Allan J. Pekor 03/23/2004
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.