Stuart Miller, CEO Lennar, Photo courtesy of Lennar
Stuart A. Miller, Lennar Corporation2014 Salary% Total
% Change Vs. 2013Breakdown ($)Comp
30.64% $
Base salary1,000,0005.58%
Stock Awards4,360,72024.35%
Options Awards00.00%
Non-Equity Incentive12,540,41370.02%
Change in Pension Value00.00%
All Other Comp8,4100.05%
TOTAL COMP17,909,543 

  • Miller’s salary was unchanged from 2013.
  • The amount of stock awards ticked up to $4,360,720, from $4,266,000 last year; and the amount of his non-equity incentive plan compensation was up from the $8,314,050 achieved in 2013.
  • Approximately 94% of his total direct compensation (salary, annual incentive and long-term incentive) for fiscal 2014 was variable and tied directly to the financial performance of the company, including: revenues of $7.8 billion, up 31% year-over-year; deliveries of 21,003 homes, up 15%; new orders of 22,029 homes, up 16%; and revenues from home sales, which shot up 29% to $6.8 billion.
  • The company does not cap cash bonuses. Miller was eligible to receive cash bonuses equal to 1.25% of the company’s pretax income. Based on the company’s pre-tax income of $1 billion, that amounted to $12,540,413
  • On the stock awards, the company bases the decisions on recommendations of its senior management and Compensation Committee: “when considering the number of shares to award, the Compensation Committee did not assign a specific weight to any individual factor,” nor does it compare it to the company’s peer group.