H.R. 3357 Passed the House Finance and Financial Sector

Enhancing Multi-Class Share Disclosures Act

To amend the Securities Exchange Act of 1934 to require issuers with a multi-class stock structure to make certain disclosures in any proxy or consent solicitation material, and for other purposes.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Meeks, Gregory W. [D-NY-5] Introduced May 13, 2025 Cosponsors 0 Latest action July 24, 2025

Summary

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.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Roll-call votes

Actions

  1. Jul 24, 2025 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. Jul 23, 2025 Motion to reconsider laid on the table Agreed to without objection.
  3. Jul 23, 2025 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)
  4. Jul 23, 2025 Considered as unfinished business. (consideration: CR H3621-3622)
  5. 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.
  6. Jul 21, 2025 DEBATE - The House proceeded with forty minutes of debate on H.R. 3357.
  7. Jul 21, 2025 Considered under suspension of the rules. (consideration: CR H3508)
  8. Jul 21, 2025 Mr. Hill (AR) moved to suspend the rules and pass the bill, as amended.
  9. Jun 3, 2025 Placed on the Union Calendar, Calendar No. 90.
  10. Jun 3, 2025 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
  11. May 20, 2025 Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
  12. May 20, 2025 Committee Consideration and Mark-up Session Held

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