S. 3831, the Enhancing Multi-Class Share Disclosures Act, would require publicly traded companies with multiple classes of stock that have different voting rights to provide clearer information about who controls voting power in the company. Specifically, companies would need to disclose in proxy materials for shareholder meetings how many shares and what percentage of total voting power are held by each director, executive officer, and significant shareholder (those owning 5 percent or more). The Securities and Exchange Commission would establish the specific rules for these disclosures. The bill affects primarily large corporations with complex ownership structures where some shareholders have greater voting control than their ownership stake would suggest. There is no specified funding or implementation timeline in the legislation; the SEC would develop the disclosure rules as it determines appropriate.