HR 3357 119th Congress

Enhancing Multi-Class Share Disclosures Act

Latest Action

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

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.

Vote Result

Passed 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)

Actions

2025-07-24T00:00:00

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

2025-07-23T00:00:00

Motion to reconsider laid on the table Agreed to without objection.

2025-07-23T00:00:00

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)

2025-07-23T00:00:00

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)

2025-07-23T00:00:00

Considered as unfinished business. (consideration: CR H3621-3622)

2025-07-21T00:00:00

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.

2025-07-21T00:00:00

DEBATE - The House proceeded with forty minutes of debate on H.R. 3357.

2025-07-21T00:00:00

Considered under suspension of the rules. (consideration: CR H3508)

2025-07-21T00:00:00

Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.

2025-06-03T00:00:00

Placed on the Union Calendar, Calendar No. 90.

2025-06-03T00:00:00

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.

2025-06-03T00:00:00

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.

2025-05-20T00:00:00

Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.

2025-05-20T00:00:00

Committee Consideration and Mark-up Session Held

2025-05-13T00:00:00

Referred to the House Committee on Financial Services.

2025-05-13T00:00:00

Introduced in House

2025-05-13T00:00:00

Introduced in House

Policy Areas

Finance and Financial Sector

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Enhancing Multi-Class Share Disclosures Act

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Summary

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