I 
110TH CONGRESS 
1ST SESSION H. R. 2595 
To amend the Securities Exchange Act of 1934 to require the disclosure 
of proxy votes relating to executive and director compensation by bene-
ficial owners of more than 5 percent of a company’s shares. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 6, 2007 
Mr. MAHONEY of Florida (for himself and Mr. CASTLE) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To amend the Securities Exchange Act of 1934 to require 
the disclosure of proxy votes relating to executive and 
director compensation by beneficial owners of more than 
5 percent of a company’s shares. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. PROXY VOTES RELATING TO EXECUTIVE AND 
DIRECTOR COMPENSATION BY CERTAIN BEN-
EFICIAL OWNERS. 
(a) IN GENERAL.—Section 13 of the Securities Ex-
change Act of 1943 (15 U.S.C. 78m) is amended— 
(1) in subsection (d)(1)— 
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(A) by redesignating subparagraphs (C), 
(D), and (E) as subparagraphs (D), (E), and 
(F), respectively; and 
(B) by inserting after subparagraph (B) 
the following: 
‘‘(C)(i) information relating to how the votes 
for such shares were cast on any proxy or consent 
or authorization in respect of any such security re-
lating to executive and director compensation pro-
posals by the issuer of the security or by a share-
holder, including a description of the matter voted 
on; and 
‘‘(ii) a description of any relationship between 
the person filing the statement and the issuer of the 
security and any affiliate thereof, or between the 
person filing the statement and any other person re-
quired to file a statement under this subsection or 
under subsection (g)(1) with respect to any securi-
ties of such issuer;’’; and 
(2) in subsection (g)(1)— 
(A) in subparagraph (A), by striking ‘‘; 
and’’ and inserting a semicolon; 
(B) in subparagraph (B), by striking the 
period and inserting ‘‘; and’’; and 
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(C) by inserting after subparagraph (B) 
the following: 
‘‘(C)(i) information relating to how the votes 
for such shares were cast on any proxy or consent 
or authorization in respect of any such security re-
lating to executive and director compensation pro-
posals by the issuer of the security or by a share-
holder, including a description of the matter voted 
on; and 
‘‘(ii) a description of any relationship between 
the person filing the statement and the issuer of the 
security and any affiliate thereof, or between the 
person filing the statement and any other person re-
quired to file a statement under this subsection or 
under subsection (d)(1) with respect to any securi-
ties of such issuer.’’. 
(b) REGULATIONS.—Not later than 180 days after 
the date of enactment of this Act, the Securities and Ex-
changes Commission shall issue regulations to implement 
the amendment made by this Act, and shall include in 
such regulations a requirement that the information re-
quired to be provided under subsections (d)(1)(C) and 
(g)(1)(C) of section 13 of the Securities Exchange Act of 
1943 (15 U.S.C. 78m), as amended by this Act, shall be 
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updated annually under subsections (d)(2) and (g)(2) of 
such section. 
Æ 
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