PlainBillCongress, translated.Legislation. Context. Public interest.Committee on Banking, Housing, and Urban Affairs. Hearings held.
Congressional Research Service
Version 00 · Introduced in Senate · Jul 31, 2019
Stock Buyback Reform and Worker Dividend Act of 2019
This bill revises requirements related to stock buybacks (i.e., a company repurchasing shares of common stock). Specifically, issuers of securities must provide an annual dividend to non-executive employees in certain circumstances. The calculation of this dividend is based on (1) the amount the issuer spends on stock buybacks, (2) increases in dividends, and (3) any special dividends.
Additionally, an issuer is prohibited from repurchasing shares unless details of the buyback are disclosed to the Securities and Exchange Commission (SEC), including the rationale for the repurchase. The buyback must also comply with certain purchasing requirements. The bill lowers the allowed daily amount of repurchased shares. Executive officers may not sell shares for seven days beginning on the date of an announced buyback, subject to certain exceptions.
The SEC may enforce these provisions. Employees are afforded a private right of action against an issuer regarding required employee dividends.
People & committees
Sen. Brown, Sherrod [D-OH] · D–OH
Legislative record
A procedural vote is different from passage. Passage in one chamber does not establish enactment. Explore the glossary.
Committee on Banking, Housing, and Urban Affairs. Hearings held.
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 116-456.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Apr 2, 2025. Consult Congress.gov for the current record.
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