H.R. 3357
Requires voting power disclosures from multi-class companies
Companies that issue several classes of stock with different voting rights would have to tell investors how many shares and how much voting power directors, top executives and big owners hold.
- Applies to companies with two or more classes of shares that carry different voting rights
- Must be included in proxy or consent solicitation materials sent to shareholders
- Covers each director, director nominee, named executive officer and each owner of 5% or more of total voting power
- Discloses the number of voting shares owned and the amount of voting power held
Passed the House · Senate's turn