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+--------+ UNITED STATES
| FORM 5 | SECURITIES AND EXCHANGE COMMISSION
+--------+ Washington, D.C. 20549
[_] Check 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
[_] Form 3 Holdings Reported
[X] Form 4 Holdings Reported
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1. Name and Address of Reporting Person*
Krasnoff Jeffrey P.
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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 Year Ended 11/30/01
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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)
[X] Director [X] Officer [ ] 10% Owner [ ] Other
(give title below) (specify below)
President
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7. Individual or Joint/Group Reporting (check applicable line)
X Form Filed by One Reporting Person
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Form Filed by More than One Reporting Person
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Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1. Title of Security 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
(Instr. 3) action action or Disposed of (D) Securities ship of In-
Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Month/ (Instr. 8) Owned at the Direct Bene-
Day/ end of (D) or ficial
Year) Issuer's Indirect Owner-
(A) or Fiscal Year (I) ship
Amount (D) Price (Instr. 3 and 4) (Instr. 4) (Instr. 4)
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Common Stock Various A 2 (A) 401 I By Savings Plan
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Common Stock N/A N/A N/A N/A 2,871 I By IRA Trust
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Restricted Common Stock(1) N/A N/A N/A N/A 200,000 D
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* If the form is filed by more than one reporting person, see instruction
4(b)(v).
(1) Represents shares of restricted stock. The shares vest with respect to
one-quarter of the total number of shares on January 19, 2002, 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.
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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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(A) (D)
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Common Stock Options 6.80 N/A N/A N/A N/A
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Common Stock Options 24.8125 N/A N/A N/A N/A
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Common Stock Options 17.3125 N/A N/A N/A N/A
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Common Stock Options 18.15625 N/A N/A N/A N/A
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Common Stock Options 26.84375 N/A N/A N/A N/A
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Stock Purchase Agreement(2) 28.80 5/9/2001 A4 40,397(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 of De- of In-
Date ative Secur- rivative direct
(Month/Day/ Secur- ities Secu- Bene-
Year) ity Bene- rity: ficial
(Instr. 5) ficially Direct Owner-
-------------------------------------------- Owned (D) or ship
Date Expira- Amount or at End Indi- (Instr. 4)
Exer- tion Title Number of of Year rect (1)
cisable Date Shares (Instr. 4) (Instr. 4)
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10-31-97 12-25-01 Common Stock 73,988 N/A 73,988 D
Options
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10-31-98 10-30-07 Common Stock 100,000 N/A 100,000 D
Options
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01-01-99 12-14-07 Common Stock 70,000 N/A 70,000 D
Options
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01-28-01 01-27-10 Common Stock 20,000 N/A 20,000 D
Options
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01-17-02 01-16-11 Common Stock 20,000 N/A 20,000 D
Options
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04-01-02 04-01-06 Stock Purchase 40,397 N/A 40,397 D
Agreement
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Explanation of Responses:
/s/ Jeffrey P. Krasnoff 2/8/2002
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**Signature of Reporting Person Date
Jeffrey P. Krasnoff
** 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.
(2) Represents a signed purchase agreement under the 2001 Senior Officer Stock
Purchase Plan. On April 1st of each year from 2002 through 2006, Mr. Krasnoff
will make purchases of LNR common stock. These purchases will total 40,397
shares.