Filing Details

 

CUSIP No.   526057302
1.Names of Reporting Persons.  I.R.S. Identification Nos. of above persons (entities only).  Morris Propp, immediate family and immediate family‘s controlled entities
2.Check the Appropriate Box if a Member of a Group  (a)o  (b)o
3.SEC Use Only
4.Citizenship or Place of OrganizationU.S.A.
Number of Shares Beneficially Owned by Each Reporting Person With	5.Sole Voting Power173,000
	6.Shared Voting Power1,431,000 (with members of immediate family)
	7.Sole Dispositive Power173,000
	8.Shared Dispositive Power     1,431,000 (with members of immediate family)
9.Aggregate Amount Beneficially Owned by Each Reporting Person  1,604,000
10.Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)      o
11.Percent of Class Represented by Amount in Row (9)  4.49%
12.Type of Reporting Person (See Instructions)  IN

---

2

Item 1.

The name and address of the principal executive offices of the Issuer are:

Lennar Corp.

700 N.W. 107^th. Avenue

Miami, FL 33172

Item 2.

This statement on Schedule 13G is being filed by:

	(a)Name:	Morris Propp (collectively, the “Filers”)
	(b)Address:	366 Eagle Drive Jupiter, FL 33477
	(c)Citizenship/Place:	U.S.A.
	(d)Title of Class of Securities:	Class B Shares
	(e)CUSIP Number:	526057302

Item 3.  If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a)oBroker or dealer registered under section 15 of the Act (15 U.S.C. 78o). 

(b)oBank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). 

(c)oInsurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). 

(d)oInvestment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). 

(e)oAn investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); 

(f)oAn employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); 

(g)oA parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G); 

(h)oA savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); 

(i)oA church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); 

(j)oGroup, in accordance with §240.13d-1(b)(1)(ii)(J). 

Item 4.  Ownership

See Items 5-9 and 11 of the cover page for each Filer.

The sum totals for all filers are as below.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a)Amount beneficially owned:    1,604,000 

(b)Percent of class:   4.49% 

---

3

(c)Number of shares as to which the person has: 

(i)Sole power to vote or to direct the vote:173,000 

(ii)Shared power to vote or to direct the vote:1,431,000 

(iii)Sole power to dispose or to direct the disposition of:173,000 

(iv)Shared power to dispose or to direct the disposition of:    1,431,000 

---

4

Item 5.  Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following  o

Item 6.  Ownership of More than Five Percent on Behalf of Another Person

Not applicable.

Item 7.  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

Not applicable.

Item 8.  Identification and Classification of Members of the Group

Not applicable.

Item 9.  Notice of Dissolution of Group

Not applicable.

Item 10.  Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Notes

 

Total ownership of immediate family and immediate family‘s controlled entities, 1,604,000 shares, is 4.49% of the outstanding “b” shares and 11.58% of the float (the “b” shares not owned by Chairman Stuart Miller’s family interests).

 

Since ”b” shares are super-voting, we recently cast approximately 16,000,000 votes in favor of Mssrs. Beckwitt, Jaffe and Miller in recognition of their fine leadership & management of the Company’s homebuilding operations.

 

Per contra, we cast our approximately 16,000,000 votes AGAINST each of the six independent board candidates. We are concerned that these board members are insufficiently diligent and/or independent.  We have identified four specific areas where inadequate board governance and oversight may pose risks to the company and to its executives.

 

Representing possibly the second largest private Lennar voting bloc, I encourage the independent directors to invite me to express my concerns.

 

Finally, looking forward, we suggest the board address the recurring issue of the two-class capital structure.  we suggest making class “b” shares convertible into class “a” shares rather than what we view as the only other viable alternative, a single-class structure.

---

5

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date:May 11, 2021

By:/s/ Morris Propp  Morris Propp (individual)

---

6