Enhancing Multi-Class Share Disclosures Act requires issuers with multi-class stock structures to disclose voting information in proxy materials.
The Enhancing Multi-Class Share Disclosures Act amends the Securities Exchange Act of 1934 to mandate that issuers with multi-class stock structures disclose specific voting information in proxy or consent solicitation materials. This includes the percentage of shares and voting power held by directors, director nominees, named executive officers, and beneficial owners of securities with 5 percent or more of the total combined voting power. The Securities and Exchange Commission will implement these requirements through rulemaking.
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