PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Mar 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.
People & committees
Sen. Warner, Mark R. [D-VA] · D–VA
Legislative record
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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: Jan 14, 2025. Consult Congress.gov for the current record.
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