Section 1 Short title
This Act may be cited as the “Multi-Class Stock Company Voting Transparency Act.”
Multi-Class Stock Company Voting Transparency Act.
A BILL
To amend the Securities Exchange Act of 1934 to require issuers with a multi-class share structure to disclose certain shareholder voting results.
Sec. 2 Shareholder voting results disclosure requirement for issuers with multi-class share structures
Section 14 of the Securities Exchange Act of 1934 (15 U.S.C. 78n) is amended by adding at the end the following:
“(l) Shareholder voting results disclosure requirement for issuers with multi-Class share structures—The Commission shall, by rule, require that an issuer with 2 or more classes of voting securities, with respect to each meeting during which the shareholders of the issuer vote as one class, disclose to such shareholders the following with respect to such vote:
“(1) The total number of votes cast for, against, or withheld, disaggregated by class of voting security held.
“(2) The total number of abstentions and broker non-votes, disaggregated by class of voting security held.”