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Enhancing Transparency in Multi-Class Stock Voting Power Disclosures

This bill requires companies with different types of shares to clearly disclose who holds the most voting power. It helps everyday investors understand how much control company leaders and large shareholders actually have.
Key points
Companies must list the percentage of shares owned by directors and top executives.
The actual voting power of major shareholders must be clearly stated as a percentage.
This information must be included in documents provided to shareholders before annual meetings.
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Status: Introduced
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Additional Information
Print number: 119_S_3831
Sponsor: Sen. Gallego, Ruben [D-AZ]
Process start date: 2026-02-11
System Note: Lustra is free, publicly auditable civic infrastructure — full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source—always verify them if you can.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Enhancing Multi-Class Share Disclosures Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3831.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2026-02-11.

What are the main provisions?

Key points include:

  • Companies must list the percentage of shares owned by directors and top executives.
  • The actual voting power of major shareholders must be clearly stated as a percentage.
  • This information must be included in documents provided to shareholders before annual meetings.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Gallego, Ruben [D-AZ].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-02-26.

What is the impact of this bill?

We don't know—that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy