Skip to main content
S 790 118th Congress Senate Finance and Financial Sector

ALIGN Act

Introduced: March 14, 2023 Introduced by: Warner, Mark R. Democratic · Virginia See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 14, 2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Mar 14, 2023
Introduced in Senate
 Plain-English summary Congressional Research Service

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.

What's happening now March 14, 2023

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

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Democratic 2