H.R. 1257: Shareholder Vote on Executive Compensation Act

110th Congress · introduced 2007-03-01 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

Follow this bill, step by step

Where it came from: introduced 2007-03-01 · official record
Who proposed it: Rep. Frank, Barney [D-MA-4] · what a sponsor is
What happened next: 9 recorded votes in our records. Latest: House roll call 236 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20), Failed. See all
Where it stands now: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Shareholder Vote on Executive Compensation Act

Plain summary

Shareholder Vote on Executive Compensation Act - Amends the Securities Exchange Act of 1934 to require a proxy, consent, or authorization for a shareholder meeting occurring on or after January 1, 2009, to permit a separate shareholder vote to approve executive compensation. States that such shareholder vote shall not be binding on the corporation or board of directors, nor construed: (1) as overruling a board decision; (2) to create or imply additional fiduciary duty by such board; (3) to restrict or limit shareholder ability to make proposals for inclusion in proxy materials related to executive compensation. Requires proxy solicitation material for a shareholder meeting occurring on or after January 1, 2009, concerning disposition of substantially all of an issuer's assets, to disclose compensation agreements or understandings with principal executive officers of either the issuer, or acquiring issuer, regarding (golden parachute) compensation which: (1) relates to such disposition; and (2) has not been subject to a shareholder vote. Provides that proxy solicitation material containing such executive compensation disclosures shall require a separate shareholder vote to approve such agreements or understandings. States such a shareholder vote shall not be binding on the corporation or the board of directors, nor construed: (1) as overruling a board decision; (2) to create or imply additional fiduciary duty by such board; (3) to constrain shareholder ability to make proposals for inclusion in proxy materials related to executive compensation.

Congressional Research Service summary (Passed House amended), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Shareholder Vote on Executive Compensation Act

Source: Congressional Research Service summary (Passed House amended)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Frank, Barney [D-MA-4] · 27 cosponsors

Cost estimate: CBO cost estimate: H.R. 1257, Shareholder Vote on Executive Compensation Act (2007-04-13); CBO cost estimate: H.R. 1257, Shareholder Vote on Executive Compensation Act (2007-04-13)

Cosponsors on this site

Nydia M. Velázquez (D-NY), Al Green (D-TX), Brad Sherman (D-CA), Emanuel Cleaver (D-MO), Gwen Moore (D-WI), Gregory W. Meeks (D-NY), Stephen F. Lynch (D-MA)

Recorded votes

House roll call 236 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20): Failed
House roll call 237 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20): Failed
House roll call 238 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20): Failed
House roll call 239 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20): Failed
House roll call 240 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20): Failed
House roll call 241 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20): Failed
House roll call 242 (2007): On Agreeing to the Amendment, HR1257 (2007-04-20): Failed
House roll call 243 (2007): On Motion to Recommit with Instructions, HR1257 (2007-04-20): Failed
House roll call 244 (2007): On Passage, HR1257 (2007-04-20): Passed

Words on this page, explained (2)

Authorization: A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Passed House amended)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-110hr1257.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/110/hr>

Record fed-us-cong110-hr1257 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110