Previously Disclosed Millrose Spin-off Record Date and Election Period for Lennar Stockholders Begins Today

Core Points - Lennar Corporation is initiating a taxable spin-off of approximately 80% of Millrose Properties, Inc. stock, with the record date starting January 21, 2025 [1][2] - Stockholders of Lennar will receive one share of Millrose Class A common stock for every two shares of Lennar Class A or Class B common stock held as of the record date [2] - An election period for stockholders to choose between Millrose Class A and Class B common stock will run from January 21, 2025, to February 3, 2025 [2][3] Company Overview - Lennar Corporation, founded in 1954, is a leading builder of quality homes across various segments, including affordable and active adult homes [5] - The company also provides mortgage financing and title services through its Financial Services segment and develops multifamily rental properties [5] Millrose Overview - Post spin-off, Millrose will operate as an independent, publicly traded company focused on land purchases and development activities, primarily in relation to Lennar and other homebuilders [6]