United States · Bill · S
S. 790 (118th)
ALIGN Act
Introduced
14 March 2023
Last action
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Status
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsors
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Subjects
Discovery layer
Source updated
14 January 2025
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.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 14 March 2023
Introduced in Senate (PDF)
Introduced in Senate · EN · 14 March 2023
Introduced in Senate
summary · EN · 14 March 2023
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Sources
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- Official source: https://www.congress.gov/bill/118th-congress/senate-bill/790
- Open data entity: https://api.congress.gov/v3/bill/118/s/790