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FORM 4A U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ 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(s) to Issuer (Check all applicable)
___ Director _X_ Officer ___ 10% Owner ___ Other
(give title below) (specify below)
Vice President and Chief Financial Officer
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7. Individual or Joint/Group Filing (Check Applicable Line)
__X_ Form filed by One Reporting Person
____ Form filed by More than One Reporting Person
Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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5. Amount of
Securities 6. Ownership 7. Nature of
3. Transaction 4. Securities Acquired (A) Beneficially Form: Indirect
Code or Disposed of (D) Owned at Direct Bene-
1. Title of 2. Transaction (Instr. 8) (Instr. 3, 4 and 5) End of Issur's (D) or ficial
Security Date -------------- -------------------------- Fiscal Year Indirect Ownership
(Instr. 3) (Mo/day/Yr) Code/V Amount/(A) or (D)/Price (Instr. 3 and 4) (Instr. 4) (Instr.4)
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By
Common Stock N/A N/A N/A 191 I Savings Plan
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Common Stock 01/19/02 J 5,000(A) 5,000 D
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Restricted Common Stock(1) 01/19/02 J 5,000(D) 15,000 D
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Restricted Common Stock(2) N/A N/A N/A 10,000 D
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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.
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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5. Number of Derivative
4. Transaction Securities Acquired
Code (A) or Disposed of (D)
2. Conversion or 3. Transaction (Instr. 8) (Instr. 3, 4, and 5)
1. Title of Derivative Exercise Price Date ---------------------------------------------------
Security (Instr. 3) of Derivative (Mo/Day/Yr) 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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10. Ownership
6. Date Exer- 9. Number of Form of 11. Nature
cisable and 7. Title and Amount of Derivative Derivative of In-
Expiration Underlying Securities Securities Securities direct
Date (Instr. 3 and 4) 8. Price of Beneficially Owned at Bene-
(Mo/Day/Yr) ------------------------ Derivative Ended of Ended of ficial
----------------- Title/Amt. or Security Month Month(1) Ownership
Exer/Expir. # of Shares (Instr. 5) (Instr. 4) (Instr. 4) (Instr. 4)
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Common Stock Options 02-05-98 / 02-04-03 Common Stock Options/ 8,221 N/A 8,221 D
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Common Stock Options 10-31-98 / 10-30-07 Common Stock Options/ 37,500 N/A 37,500 D
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Common Stock Options 01-01-99 / 12-14-07 Common Stock Options/ 26,250 N/A 26,250 D
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Common Stock Options 01-28-01 / 01-27-10 Common Stock Options/ 10,000 N/A 10,000 D
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Common Stock Options 01-17-02 / 01-16-11 Common Stock Options/ 10,000 N/A 10,000 D
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Common Stock Options 01-02-03 / 01-01-12 Common Stock Options/ 10,000 N/A 10,000 D
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Stock Purchase Agreement (3) 04-01-02 / 04-01-03 Stock Purchase Agreement/ 2,430 N/A 2,430 D
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Explanation of Responses:
* Reporting person denies beneficial ownership of these securities.
** Intentional misstatements or omissions 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.
/s/ Shelly Rubin 2/8/2002
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**Signature of Reporting Person Date
Shelly Rubin