On December 15, 2021, the U.S. Securities and Exchange Commission (“Commission”)proposed amendments to its rules regarding the disclosure of share repurchase programs or, as they are colloquially known, stock buybacks. The amendments contained in the Share Repurchase Disclosure Modernization proposal rulemaking (hereafter referred to as the “Proposal”) would require more frequent and detailed disclosures regarding issuers purchasing of their own stock.