Enhancing Multi-Class Share Disclosures Act

Latest action Jul 24, 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.

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Where it stands

Passed one of the two chambers; it still needs the other.

Introduced
In committee
Up for a vote
Passed one chamber
Passed
Enacted

Committee

House Committee on Financial Services · U.S. House of Representatives

S. 3831Enhancing Multi-Class Share Disclosures ActRelated bill

As identified by Congress.gov.

Recorded votes

Vote: On Motion to Suspend the Rules and Pass, as Amended
U.S. HouseJul 23, 2025Result: Passed
(381) (31) (0) (18)

Full history

Jul 24, 2025
In committee
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
U.S. House
Jul 24, 2025
Sent to the executive
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
U.S. Senate
Jul 23, 2025
Considered as Unfinished business. (consideration: cr H3621-3622)
Considered as unfinished business. (consideration: CR H3621-3622)
Jul 23, 2025
Considered as Unfinished business. (consideration: cr H3621-3622)
Considered as unfinished business. (consideration: CR H3621-3622)
Jul 23, 2025
Considered as Unfinished business. (consideration: cr H3621-3622)
Considered as unfinished business. (consideration: CR H3621-3622)

Show full history (23 earlier events)

Jul 23, 2025
Passed a chamber
Motion to reconsider laid on the table Agreed to without objection.
Jul 23, 2025
Passed a chamber
Motion to reconsider laid on the table Agreed to without objection.
Jul 23, 2025
Passed a chamber
Motion to reconsider laid on the table Agreed to without objection.
Jul 23, 2025
Passed a chamber
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)
U.S. House of Representatives
Jul 21, 2025
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.
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.
Jul 21, 2025
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.
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.
Jul 21, 2025
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.
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.
Jul 21, 2025
Debate - the House Proceeded With Forty Minutes of Debate on H.R. 3357.
DEBATE - The House proceeded with forty minutes of debate on H.R. 3357.
U.S. House of Representatives
Jun 3, 2025
Placed on the Union Calendar, Calendar No. 90.
Jun 3, 2025
Placed on the Union Calendar, Calendar No. 90.
Jun 3, 2025
Placed on the Union Calendar, Calendar No. 90.
Jun 3, 2025
Reported out of committee
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
Jun 3, 2025
Reported out of committee
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
Jun 3, 2025
Reported out of committee
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
May 20, 2025
Committee vote
Committee Consideration and Mark-up Session Held
May 20, 2025
Committee vote
Committee Consideration and Mark-up Session Held
May 20, 2025
Committee vote
Committee Consideration and Mark-up Session Held
May 20, 2025
Reported out of committee
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
May 20, 2025
Reported out of committee
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
May 20, 2025
Reported out of committee
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
May 13, 2025
Introduced
Introduced in House
U.S. House of Representatives
May 13, 2025
Introduced
Introduced in U.S. House
U.S. House
May 13, 2025
Referred to committee
Referred to the House Committee on Financial Services.
U.S. House of Representatives

About this record

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Source: From Congress.gov and official rosters. This record was last updated Aug 2, 2026. About our data

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