ALIGN Act

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.