Enhancing Multi-Class Share Disclosures Act

This bill would amend the Securities Exchange Act of 1934 to cover companies that have two or more classes of stock with different voting rights in electing directors. The Securities and Exchange Commission would have to issue a rule requiring these companies to include certain ownership information in proxy or consent materials for annual shareholder meetings, or in other filings the Commission chooses. For each director, director nominee, named executive officer, and owner of 5 percent or more of the voting power, the company would disclose that person's share ownership as a percentage of outstanding voting shares. The company would also disclose that person's voting power as a percentage of total combined voting power.

Full text and official record on Congress.gov

Sponsors

• Ruben Gallego Democrat sponsor
• 1 cosponsors