Bill > HR3357

This bill requires companies with a multi-class stock structure (meaning they have different types of shares with varying voting rights) to provide detailed voting and ownership information in their annual shareholder meeting proxy materials or other specified filings. Specifically, companies must disclose for each director, director nominee, named executive officer, and any person owning at least 5% of the company's voting securities: (1) the number of shares they own that can vote in director elections, expressed as a percentage of total outstanding voting shares, and (2) the percentage of total voting power they hold across all share classes. The bill aims to increase transparency about voting rights and ownership in companies with complex stock structures, where some shareholders may have disproportionate control compared to their economic stake. The Securities and Exchange Commission (SEC) would be responsible for creating the specific rules to implement these disclosure requirements, which would help investors better understand the voting dynamics and potential governance risks in multi-class companies.

Business and Industry, Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/house-bill/3357/all-info