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H.R. 9732House119th Congress (2025-2027)In Committee

Multi-Class Stock Company Voting Transparency Act.

Sponsored by Sean CastenRep. Sean Casten (D-IL)
Introduced July 16, 2026

AI-Generated Summary

Updated July 18, 2026 at 10:35 PM UTC

The Multi-Class Stock Company Voting Transparency Act would change the Securities Exchange Act of 1934 to make companies that have more than one class of voting shares share detailed voting results with their shareholders. It requires these issuers to break down how many votes were cast for, against, withheld, abstained, or not voted by brokers, and to show the numbers separately for each class of stock. The rule applies to any public company that uses a multi‑class share structure and holds shareholder meetings where all shareholders vote together.

Key Provisions

  • The SEC must issue a rule requiring issuers with two or more voting classes to disclose voting outcomes for each meeting where shareholders vote as a single class.
  • Disclosures must include the total votes cast for, against, and withheld, broken down by each class of voting security.
  • Disclosures must also include the total number of abstentions and broker non‑votes, again separated by class of voting security.

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Financial Services.

Financial Services Committee

July 16, 2026

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HouseIntro Referral

Introduced in House

July 16, 2026

HouseIntro Referral

Referred to the House Committee on Financial Services.

Financial Services Committee

July 16, 2026

Bill Text

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Introduced in HouseIssued July 16, 2026

I

119th CONGRESS

2d Session

H. R. 9732

IN THE HOUSE OF REPRESENTATIVES

July 16, 2026

Mr. Casten introduced the following bill; which was referred to the Committee on Financial Services

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.

1.

Short title

This Act may be cited as the Multi-Class Stock Company Voting Transparency Act.

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.

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