Rick Beckwitt was the Co-Chief Executive Officer and Co-President of Lennar Corporation until his retirement in 2023. He joined Lennar in 2006 and held key positions, becoming CEO in 2018 before becoming Co-CEO in 2020. His compensation peaked in 2023...

Rick Beckwitt was the Co-Chief Executive Officer and Co-President of Lennar Corporation until his retirement in 2023. He joined Lennar in 2006 and held key positions, becoming CEO in 2018 before becoming Co-CEO in 2020. His compensation peaked in 2023 at an impressive total of $43.7 million, boosted by a substantial retirement payment of $20.2 million. Interestingly, Beckwitt did not receive a bonus during his last year due to his retirement, yet he did see all his shares in the company vest. Throughout his time, he made strategic decisions focused on increasing profits and maintaining strong performance incentives for the company. At his retirement, he had significant holdings in Lennar, reflecting his belief in the company’s long-term value. Beckwitt's leadership style emphasized aligning executive pay with company success, showing a dedication to shareholder interests. His career showcases how effective leaders can drive a company's growth and value over time.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Lennar Corporation CEOs

L

Rick Beckwitt

Ex-CEO of Lennar Corporation

Education

Bachelor's degree from Claremont McKenna College

Field of Expertise

Real Estate & Construction - Real Estate

Born

December 1, 1959 - 65 years ago

CEO of Lennar Corporation for

2 years 6 months (Apr 2018 - Nov 2020)

Previous Experience

President of Lennar

Rivals

Competitors/colleagues of Rick Beckwitt

T

Cynthia M. M. Dyer

CEO of Taylor Morrison Home Corporation

2023 Compensation

Stock

$0.00

Salary

$1.08M

Bonus

$2.62M

Other

$0.00

Total Holdings

$881.55K

M

Phillipe Lord

CEO of Meritage Homes

2022 Compensation

Stock

$17.53M

Salary

$900.00K

Bonus

$5.63M

Other

$62.53K

Total Holdings

$21.04M

N

Eugene J. Bredow

CEO of NVR

2023 Compensation

Stock

$250.00K

Salary

$500.00K

Bonus

$150.00K

Other

$50.00K

Total Holdings

$20.85M

D

Paul J. Romanowski

CEO of D.R. Horton

2023 Compensation

Stock

$1.22M

Salary

$500.00K

Bonus

$6.31M

Other

$59.90K

Total Holdings

$17.99M

T

Douglas C. Yearley, Jr.

CEO of Toll Brothers

2023 Compensation

Stock

$0.00

Salary

$1.20M

Bonus

$7.80M

Other

$0.00

Total Holdings

$44.98M

Holdings

See how much did Rick Beckwitt make over time.

Rick Beckwitt's stock holdings showed significant engagement with Lennar Corporation. Upon his retirement, he had accumulated restricted shares that vested fully, totaling 94,804 shares valued around $37.8 million. His investment in Lennar reflected confidence in the company's future, as he...

Rick Beckwitt's stock holdings showed significant engagement with Lennar Corporation. Upon his retirement, he had accumulated restricted shares that vested fully, totaling 94,804 shares valued around $37.8 million. His investment in Lennar reflected confidence in the company's future, as he previously enjoyed large gains from his equity during good market periods. In the years leading up to his retirement, his wealth was largely tied to Lennar's performance, showing a deep connection to the firm's success. Beckwitt also held shares in Eagle Materials, but his stake in Lennar made up the bulk of his holdings at the time of his retirement, illustrating a focused commitment to the company.

Loading...

Insider Trading

See recent insider trades of Rick Beckwitt.

No insider trades found for this CEO.

Compensation History

See how much did Rick Beckwitt make over time.

In 2023, Rick Beckwitt earned a total of $43.7 million, making it a remarkable final year. His salary was $535,385, but the bulk of this high figure came from a one-time retirement payment exceeding $20 million. He did not receive a bonus for the year since he was retiring, yet all his time-based restricted stock vested as he left the company. Over the years, Beckwitt's compensation combined base salary with performance bonuses, showing a pay structure aligned with the company's profitability. This model made sure his incentives were directly tied to Lennar's financial successes. His earning trajectory was a clear sign of how well he managed executive responsibilities aligned with shareholder value expectations.

Year

2023

Total Compensation

$58.64M

Salary

$535.39K

Board Justification

The compensation philosophy emphasizes aligning executive compensation with company performance and stockholder interests, focusing on both short-term and long-term incentives.

Bonus

$0.00

Board Justification

Due to retirement, Mr. Beckwitt forfeited his 2023 cash incentive compensation under the incentive compensation program.

Other

$20.27M

Board Justification

This includes a payment of $20,243,245 received in connection with the Separation Agreement upon retirement, less applicable withholdings.

Restricted Stock

$37.83M(94.8K time-based restricted stock)

Board Justification

Upon retirement, all 94,804 outstanding shares of time-based restricted stock held by Mr. Beckwitt vested in full as of September 1, 2023.

Performance Metrics

The performance metrics for determining compensation include profitability goals and strategic objectives related to the company's operations.

Other Lennar Corporation CEOs

Here are other CEOs of Lennar Corporation

Stuart Miller

Ex-CEO of Lennar Corporation

January 1997 - April 2018

Jonathan M. Jaffe

CEO of Lennar Corporation

November 2020 - Present