H.R. 3357: Enhancing Multi-Class Share Disclosures Act
Sponsor
Gregory Meeks
Democrat · NY-5
What H.R. 3357 does
Some companies issue shares with different voting rights, such as limited or no votes for the public and more votes for founders and executives. H.R. 3357 would require companies with that kind of structure to add disclosures to their proxy and consent solicitation materials.
For each director, director nominee, named executive officer and holder of 5% or more of the total voting power, the company would have to report how many voting shares the person owns and how much voting power they hold.
How the House voted
Passed · July 23, 202531 Republicans broke with their party to vote no
Tom Barrett
Aaron Bean
Andy Biggs
Sheri Biggs
Josh Brecheen
Tim Burchett
Ben Cline
Michael Cloud
Mike Collins
Eli Crane
Jeff Crank
Randy FineOn Motion to Suspend the Rules and Pass, as Amended: H R 3357 Enhancing Multi-Class Share Disclosures Act · Roll no. 217 · Official record
HR3357 Legislative Journey
Committee Action
Jul 24, 2025
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
House: Vote: 381-31
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)
House: Vote Held
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.
House: Committee Action
Jun 3, 2025
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-120.
House: Vote: 51-0
May 20, 2025
Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
House: Committee Action
May 13, 2025
Referred to the House Committee on Financial Services.
About the Sponsor
Gregory Meeks
Democrat, New York's 5th congressional district · 29 years in Congress
Committees: Foreign Affairs, Financial Services
View full profile →
Committee Sponsors
Banking, Housing, and Urban Affairs Committee
0 of 24 committee members cosponsored
No committee members have cosponsored this bill
Financial Services Committee
0 of 54 committee members cosponsored
No committee members have cosponsored this bill
35 Democrats across these committees haven't cosponsored yet. Mobilize their constituents
What laws does H.R. 3357 change?
1 changes
Sections Amended
Section 14 of Securities Exchange Act of 1934 (15 U.S.C. 78n)
adding at the end the following: ``(l) Disclosure Relating to Multi-class Share Structures
H.R. 3357 Quick Facts
- Committee
- Banking, Housing, and Urban Affairs
- Chamber
- House
- Policy
- Finance and Financial Sector
- Introduced
- May 13, 2025
Passed the House, received in Senate
Jul 24, 2025
H.R. 3357 Bill Text
“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.”
Source: U.S. Government Publishing Office
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