118th Congress Finance and Financial Sector
S. 790: ALIGN Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Tammy Baldwin D-WIOriginal
- Elizabeth Warren D-MAOriginal
Who scored on this bill
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History
- Introduced in the Senate by Mark Warner.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.