A bill to amend the Securities and 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.

This bill would amend securities laws to require publicly traded companies that have multiple classes of stock to provide certain disclosures in proxy or consent solicitation materials. Multi-class stock structures typically give different voting rights to different share classes, allowing founders or insiders to maintain control with a smaller ownership stake. The bill would mandate that companies disclose information about these governance arrangements when they solicit shareholder votes. If enacted, this would increase transparency for investors evaluating companies with complex ownership structures, allowing shareholders to better understand voting power distribution and governance implications. The bill is currently in the early stages of the legislative process and has been referred to committee for consideration.