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| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
[_] Check this box if
no longer subject ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Rubin Shelly A.
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(Last) (First) (Middle)
760 N.W. 107th Avenue
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(Street)
Miami FL 33172
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(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol LNR Property Corporation / LNR
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3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary)
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4. Statement for Month/Year Jan-02
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
___ Director ___ 10% Owner
X Officer (give ___ Other (specify
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title below) below)
Vice President and Chief Financial Officer
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7. Individual or Joint/Group Filing
X Form filed by One Reporting Person
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____ Form filed by More than One Reporting Person
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially
Owned
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature of
of action action or Disposed of (D) Securities Form: Indirect
Security Date Code (Instr. 3, 4 and 5) Beneficially Direct Beneficial
(Instr. 3) (Month/ (Instruction 8) Owned at (D) or Owner (4)
Day/ ----------------------------------------------- End of Indirect
Year) Issuer's Fiscal (Instr. 4)
Code / V Amount/ A or D Price Year (Instr. 3 and 4)
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Common Stock N/A N/A N/A 191 I By Savings
Plan
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Common Stock Various J 7,500 (A) 7,500 D
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Restricted Common 01/19/02 J 5,000 (D) 15,000 D
Stock (1)
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Restricted Common 01/17/02 J 2,500 (D) 7,500 D
Stock (2)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
(1) Represents shares of restricted stock. The shares vest with respect to
one-quarter of the total number of shares on January 19, 2002 (20,000), and the
remainder will vest on each of January 19, 2003, January 19, 2004 and January
19, 2005 to the extent of one-quarter of the total number of shares.
(2) Represents shares of restricted stock. The shares vest with respect to
one-quarter of the total number of shares on January 17, 2003 (10,000), and the
remainder will vest on each of January 17, 2004, January 17, 2005 and January
17, 2006 to the extent of one-quarter of the total number of shares.
(J) Represents release of restrictions on restricted common stock.
FORM 4 (continued)
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4, and 5)
ative Year)
Security
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Code/ V (A) (D)
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Common Stock Options 16.20 N/A N/A N/A
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Common Stock Options 24.8125 N/A N/A N/A
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Common Stock Options 17.3125 N/A N/A N/A
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Common Stock Options 18.15625 N/A N/A N/A
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Common Stock Options 26.84375 N/A N/A N/A
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Common Stock Options 31.30 1/2/2002 A 10,000 (A)
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Stock Purchase Agreement (3) N/A N/A N/A N/A
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Security ficial
(Instr. ficially Direct (D) Owner-
-------------------------------------------- 5) Owned or ship
Date Expira- Amount or at End Indirect (I) (Instr.
Exer- tion Title Number of of (Instr. 4) 4)
cisable Date Shares Year
(Instr. 4)
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02-05-98/02-04-03 Common Stock Options/ 8,221 N/A 8,221 D
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10-31-98/10-30-07 Common Stock Options/ 37,500 N/A 37,500 D
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01-01-99/12-14-07 Common Stock Options/ 26,250 N/A 26,250 D
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01-28-01/01-27-10 Common Stock Options/ 10,000 N/A 10,000 D
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01-17-02/01-16-11 Common Stock Options/ 10,000 N/A 10,000 D
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01-02-03/01-01-12 Common Stock Options/ 10,000 N/A 10,000 D
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04-01-02/04-01-03 Stock Purchase Agreement/ 2,430 N/A 2,430 D
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Explanation of Responses:
/s/ Shelly Rubin 2/8/2002
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**Signature of Reporting Person Date
Shelly Rubin
*Reporting person denies beneficial ownership of these securities.
** Intentional misstatements or ommissions 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 provided is insufficient,
See Instruction 6 for procedure.
(3) Represents a signed purchase agreement under the 2001 Senior Officer Stock
Purchase Plan. On each of April 1, 2002 and 2003, Ms. Rubin will purchase
1,215 shares.
Page 2
SEC 1474