TX SB1057

Adds Section 21.373 to the Texas Business Organizations Code establishing requirements for shareholder proposals at nationally listed corporations that voluntarily opt in through amendments to their governing documents

Defines "nationally listed corporation" as one with securities registered under the Securities Exchange Act of 1934, listed on a national exchange, and either headquartered in Texas or listed on a Texas-based, state-approved stock exchange

Requires shareholders submitting proposals to hold at least $1 million in market value OR 3% of the corporation's voting shares for a continuous period of at least six months before the meeting

Mandates that proposal sponsors solicit holders of shares representing at least 67% of voting power entitled to vote on the proposal

Exempts director nominations and procedural meeting resolutions from these shareholder proposal requirements; takes effect September 1, 2025