The "Enhancing Multi-Class Share Disclosures Act" proposes to amend the Securities Exchange Act of 1934, introducing new disclosure requirements for companies with a multi-class share structure . This structure is defined as having two or more classes of securities with differing voting rights in the election of directors. The bill directs the Securities and Exchange Commission (SEC) to establish rules mandating these issuers to disclose specific information in proxy or consent solicitation materials, or other appropriate filings. This required disclosure includes, for directors, executive officers, and beneficial owners holding 5% or more of voting power, their percentage of total outstanding voting shares and their percentage of total combined voting power. The legislation aims to increase transparency regarding the distribution of voting control within companies that utilize such capitalization structures.