Enhancing Multi-Class Share Disclosures Act

Sponsored byRep. Meeks, Gregory W. [D-NY-5]NY· Introduced 13 May 2025

Open on Congress.gov

Cosponsors

Actions

Amendments

Committees

—

Since introduced

Introduced

Committee

Passed Chamber

Passed Both

Enacted

Step 1 of 0

Latest action

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

24 July 2025·0 years ago

Summary

Introduced in House · Updated 18 July 2025

Enhancing Multi-Class Share Disclosures Act

This bill requires issuers of securities with multi-class share structures to disclose certain information in any proxy solicitation or consent solicitation material. A multi-class share structure occurs when a company issues two or more classes of shares that have different voting rights. For example, a company may issue one class of shares with no or few voting rights for the public, and another class with more voting rights for company founders and executives.

Under the bill, the issuer must disclose certain information about each director, director nominee, named executive officer, and each beneficial owner of securities with 5% or more of the total combined voting power of all classes of securities entitled to vote in the election of directors. Specifically, the issuer must disclose (1) the number of shares of all classes of securities entitled to vote in the election of directors beneficially owned by such person, and (2) the amount of voting power held by such person.

Timeline

17 actions

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
24 July 2025 · IntroReferral
Motion to reconsider laid on the table Agreed to without objection.
23 July 2025 · Floor
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 381 - 31 (Roll no. 217). (text: 07/21/2025 CR H3508)
23 July 2025 · Floor
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 381 - 31 (Roll no. 217). (text: 07/21/2025 CR H3508)
23 July 2025 · Floor
Considered as unfinished business. (consideration: CR H3621-3622)
23 July 2025 · Floor
DEBATE - The House proceeded with forty minutes of debate on H.R. 3357.
21 July 2025 · Floor
Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
21 July 2025 · Floor
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
21 July 2025 · Floor
Considered under suspension of the rules. (consideration: CR H3508)
21 July 2025 · Floor
Placed on the Union Calendar, Calendar No. 90.
3 June 2025 · Calendars
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
3 June 2025 · Committee
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
3 June 2025 · Committee
Committee Consideration and Mark-up Session Held
20 May 2025 · Committee
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
20 May 2025 · Committee
Referred to the House Committee on Financial Services.
13 May 2025 · IntroReferral
Introduced in House
13 May 2025 · IntroReferral
Introduced in House
13 May 2025 · IntroReferral

Sponsorship

0 cosponsors

Sponsor

Rep. Meeks, Gregory W. [D-NY-5]NY

Classification

Policy area

Finance and Financial Sector

Legislative subjects

Consumer affairsCorporate finance and managementFinancial services and investmentsSecurities

Committees

Financial Services Committee
House · Standing
- Referred To13 May 2025
- Markup By20 May 2025
- Reported By3 Jun 2025
Banking, Housing, and Urban Affairs Committee
Senate · Standing
- Referred To24 Jul 2025

Reports

H. Rept. 119-120

Track Enhancing Multi-Class Share Disclosures Act as it moves through Congress