# H.R. 3357 (119th): Enhancing Multi-Class Share Disclosures Act

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.

## How this bill is scored

Tier: no Tier 1 record. A bill with no record cannot newly become Tier 1.
Lane: corporate_accountability. Category: not stored. Lane tag: not stored.
Lane: corporate_governance. Category: not stored. Lane tag: not stored.
Lane: financial_transparency. Category: not stored. Lane tag: not stored.
Tier 1 sign-off: no record. A bill with no record cannot newly become Tier 1.
Stored polarity: mixed. Only tags the rules mark scoreable on a mixed bill are scored. A yea can draw a penalty or a credit according to the tag. A nay on a tag scored as good can draw a penalty.
Roll 217: On Motion to Suspend the Rules and Pass, as Amended. Vote type: final_passage.
Polarity rationale: Reviewed enrichment (llm_import) polarity: The measure is a disclosure rule for corporate governance. It promotes honest transparency about concentrated voting power, which is a modest good, but its moral weight is prudential and it does not directly restrain or advance a named moral evil. Classifying it as mixed reflects that ordinary governance goods and reasonable disputes about disclosure burden coexist.
Theological note: The bill concerns transparency about concentrated voting control in corporations. Scripture values honest stewardship, truthful dealing, and fair accounting, so disclosure of who holds decisive influence is relevant to those concerns. It does not address a named moral harm directly, and its effects belong to prudential corporate governance rather than a clear moral verdict.

## Recorded votes

Roll 217: On Motion to Suspend the Rules and Pass, as Amended. Yea 381 · Nay 31 · Other 18.

HTML: https://justmeasure.org/bill/hr-3357-119/