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United States · Bill · S

S. 790 (118th)

ALIGN Act

referredUnited States· United States Congress· EN

Introduced

14 March 2023

Last action

14 March 2023 · Introduced

Status

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Sponsors

Sen. Warner, Mark R. [D-VA], Sen. Warren, Elizabeth [D-MA], Sen. Baldwin, Tammy [D-WI]

Subjects

Discovery layer

Source updated

14 January 2025

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Summary

Advancing Long-term Incentives for Governance Now Act or the ALIGN Act This bill establishes requirements for share repurchase authorizations (i.e., stock buybacks) and stock-based compensation. Specifically, issuers of securities are required to disclose a stock buyback within one business day of the authorization by the board of directors. Further, executive officers of an issuer are prohibited from selling, transferring, or divesting from a security that is part of that officer's compensation within (1) one year of a buyback, or (2) three years of being granted such a security. The bill establishes exceptions to this prohibition, including by allowing transfers occurring in connection with a change of control of the company or pursuant to a will.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 14 March 2023

    Introduced

    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Source: IntroReferral

  2. 14 March 2023

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

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Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 14 March 2023

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 14 March 2023

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 14 March 2023

    Open at official source

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Sponsors

Related records

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Sources

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