Residential homebuilder Lennar Corp. is urging shareholders to vote against three stockholder proposals at the company's 2018 annual meeting to be held April 11.
The proposals seek to set a 15-year tenure limit for director service on the company's board and to ensure that all outstanding Lennar stock has an equal one-vote-per-share status in each voting situation. The company's class A shares carry one vote apiece, and its class B shares carry 10 votes each.
In addition, a proposal to allow class B stockholders the right to annually convert 1% of their stock into class A common stock is up for a vote.
