US SB3831

Amends the Securities Exchange Act of 1934 to require companies with multi-class stock structures (2 or more share classes with different voting rights for director elections) to disclose voting power information in proxy materials

Requires disclosure of shareholdings and voting power for directors, director nominees, named executive officers, and beneficial owners holding 5% or more of total voting power

Mandates reporting of each covered person's shares as a percentage of total outstanding voting securities and their voting power as a percentage of total combined voting power

SEC must establish rules requiring these disclosures in annual shareholder meeting proxy materials or other filings the Commission deems appropriate

Introduced February 11, 2026 by Senators Gallego and Rounds with bipartisan sponsorship; referred to the Committee on Banking, Housing, and Urban Affairs