summary
Introduced
02/11/2026
02/11/2026
In Committee
02/11/2026
02/11/2026
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To amend the Securities Exchange Act of 1934 to require issuers with a multi-class stock structure to make certain disclosures in any proxy or consent solicitation material, and for other purposes.
AI Summary
This bill, titled the Enhancing Multi-Class Share Disclosures Act, amends the Securities Exchange Act of 1934 to require companies with a "multi-class share structure"—meaning they have two or more types of stock with different voting rights for electing directors—to provide specific information in their proxy materials, which are documents sent to shareholders for meetings where votes are cast. Specifically, companies must disclose, for each director, director nominee, top executive, or anyone owning 5% or more of the voting power, the percentage of voting shares they own and the percentage of total voting power they hold. This aims to increase transparency for investors regarding control and influence within companies that utilize these differing share structures.
Committee Categories
Housing and Urban Affairs
Sponsors (2)
Last Action
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (on 02/11/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/senate-bill/3831/all-info |
| BillText | https://www.congress.gov/119/bills/s3831/BILLS-119s3831is.pdf |
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