Lennar Corp. LEN, +0.29% disclosed Tuesday that both co-Chief Executives Rick Beckwitt and Jonathan Jaffe had total compensation of $34.045 million in 2021, up from 2020 total comp $21.983 million for Beckwitt and $19.352 million for Jaffe. The combined compensation for both home builder’s CEOs of $68.090 million was up 64.7% from 2020. The salaries of both Beckwitt and Jaffe remained at $800,000 in 2021, so the pay increases resulted in increases in stock awards and non-equity incentive plan compensation, both to $16.608 million for both co-CEOs. Meanwhile, Executive Chairman Stuart Miller’s total comp in 2021 was $38.852 million, up 54.4% from $25.170 million in 2020. Lennar’s stock, which has shed 22.7% year to date, had run up 52.4% in 2021, while the iShares U.S. Home Construction ETF ITB, -0.72% had hiked up 48.6% and the S&P 500 SPX, -1.66% had advanced 26.9%.
