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Lennar urges voting against stockholder proposals

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.