Congress·In Committee·S. 3831

New Disclosure Rules for Companies with Multiple Stock Classes

Enhancing Multi-Class Share Disclosures Act

Legislative Progress

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This bill targets companies that use a 'multi-class' stock structure. This is a setup where some shares have more voting power than others, often allowing a small group of founders or executives to keep total control of a company even if they do not own most of the actual stock.
If passed, these companies would be required to clearly list how much voting power their leaders and big investors actually hold. They would need to show two numbers: the percentage of total shares they own and the percentage of total voting power they control.
The goal is to give regular investors more transparency. It can currently be difficult for the public to see if a few insiders hold all the power, which affects how much influence everyday shareholders have on major company decisions.
These rules would apply to company directors, top executives, and anyone who owns 5% or more of the company's total voting power. This information would be included in the paperwork sent to shareholders before they vote at annual meetings.

2 milestones2 actions

Feb 11, 2026Senate

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

Feb 11, 2026

Introduced in Senate

Document Type

Congressional Bill

Official Title

Enhancing Multi-Class Share Disclosures Act

Bill NumberS 3831

Congress119th Congress

ChamberSenate

Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

(1)

R: 1

Congress.gov

Official legislative information

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