Legis Daily

ALIGN Act

USA118th CongressS-790| Senate 
| Updated: 3/14/2023
Mark R. Warner

Mark R. Warner

Democratic Senator

Virginia

Cosponsors (2)
Elizabeth Warren (Democratic)Tammy Baldwin (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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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Timeline

Bill from Previous Congress

S 116-3296
ALIGN Act

Bill from Previous Congress

S 117-1166
ALIGN Act
Mar 14, 2023
Introduced in Senate
Mar 14, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 30, 2023

Latest Companion Bill Action

HR 118-2406
Introduced in House
  • Bill from Previous Congress

    S 116-3296
    ALIGN Act


  • Bill from Previous Congress

    S 117-1166
    ALIGN Act


  • March 14, 2023
    Introduced in Senate


  • March 14, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • March 30, 2023

    Latest Companion Bill Action

    HR 118-2406
    Introduced in House

Finance and Financial Sector

ALIGN Act

USA118th CongressS-790| Senate 
| Updated: 3/14/2023
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline

Bill from Previous Congress

S 116-3296
ALIGN Act

Bill from Previous Congress

S 117-1166
ALIGN Act
Mar 14, 2023
Introduced in Senate
Mar 14, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 30, 2023

Latest Companion Bill Action

HR 118-2406
Introduced in House
  • Bill from Previous Congress

    S 116-3296
    ALIGN Act


  • Bill from Previous Congress

    S 117-1166
    ALIGN Act


  • March 14, 2023
    Introduced in Senate


  • March 14, 2023
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.


  • March 30, 2023

    Latest Companion Bill Action

    HR 118-2406
    Introduced in House
Mark R. Warner

Mark R. Warner

Democratic Senator

Virginia

Cosponsors (2)
Elizabeth Warren (Democratic)Tammy Baldwin (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted