H.R. 3357: Enhancing Multi-Class Share Disclosures Act

119th Congress · introduced 2025-05-13 · Finance and Financial Sector · Latest: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

federal

What does this mean?

Official title

Enhancing Multi-Class Share Disclosures Act

Plain summary

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.

Congressional Research Service summary (Introduced in House), 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.

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What does this mean? (plain words)

Official text

Enhancing Multi-Class Share Disclosures Act

Source: Congressional Research Service summary (Introduced in House)

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Officials and money

Sponsor: Rep. Meeks, Gregory W. [D-NY-5] · 0 cosponsors

Money: CBO cost estimate: H.R. 3357, Enhancing Multi-Class Share Disclosures Act (2025-07-16) No linked contracts or vendors yet.

Recorded votes

House roll call 217 (2025): On Motion to Suspend the Rules and Pass, as Amended, H R 3357 (2025-07-23): Passed

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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 (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119hr3357.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/hr>

Record fed-us-cong119-hr3357 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills