What does Preamble of Enhancing Multi-Class Share Disclosures Act do?

This Act amends the Securities Exchange Act of 1934 It requires issuers with a multi-class stock structure to make certain disclosures

What does SHORT TITLE. of Enhancing Multi-Class Share Disclosures Act do?

This bill is formally titled the Enhancing Multi-Class Share Disclosures Act

What does DISCLOSURE RELATING TO MULTI-CLASS SHARE STRUCTURES. of Enhancing Multi-Class Share Disclosures Act do?

This section amends the Securities Exchange Act of 1934 to require disclosure regarding multi-class share structures. The Securities and Exchange Commission (SEC) must create rules requiring issuers with multi-class share structures to disclose specific information in proxy or consent solicitation materials, or other filings as determined by the SEC. The required disclosure includes the number of shares owned and voting power held by directors, director nominees, named executive officers, and beneficial owners of 5% or more of the total combined voting power. The disclosure must be expressed as a percentage of the total number of outstanding securities or total combined voting power. A 'multi-class share structure' is defined as a capitalization structure with two or more types of securities having differing voting rights in the election of directors.

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Enhancing Multi-Class Share Disclosures Act

Last updated: 7/24/2025 · Introduced: 5/13/2025

Author: Gregory Meeks (D-NY)

TL;DR (AI)

This bill amends the Securities Exchange Act of 1934 to mandate disclosures related to multi-class share structures.
Issuers with multi-class share structures will be required to disclose the voting power held by directors, executives, and significant shareholders as a percentage of total outstanding securities.
The Securities and Exchange Commission (SEC) will establish specific rules detailing the required disclosures in relevant filings.

119th Congresspassed houseS. 3831(In Committee)Official page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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