; and (4) in subsection (h) (as so redesignated)— (A) by striking effective— and all that follows through (1) with respect to and inserting effective with respect to ; (B) in paragraph (1), by striking ; and and inserting a period; and (C) by striking paragraph (2). (b) Conforming amendment Section 941 of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by striking subsection (c). 843. Frequency of shareholder approval of executive compensation Section 14A(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78n–1(a) ) is amended— (1) in paragraph (1), by striking Not less frequently than once every 3 years and inserting Each year in which there has been a material change to the compensation of executives of an issuer from the previous year ; and (2) by striking paragraph (2) and redesignating paragraph (3) as paragraph (2). 844. Shareholder Proposals (a) Resubmission thresholds The Securities and Exchange Commission shall revise section 240.14a–8(i)(12) of title 17, Code of Federal Regulations to— (1) in paragraph (i), adjust the 3 percent threshold to 6 percent; (2) in paragraph (ii), adjust the 6 percent threshold to 15 percent; and (3) in paragraph (iii), adjust the 10 percent threshold to 30 percent. (b) Holding requirement The Securities and Exchange Commission shall revise the holding requirement for a shareholder to be eligible to submit a shareholder proposal to an issuer in section 240.14a–8(b)(1) of title 17, Code of Federal Regulations, to— (1) eliminate the option to satisfy the holding requirement by holding a certain dollar amount; (2) require the shareholder to hold 1 percent of the issuer's securities entitled to be voted on the proposal, or such greater percentage as determined by the Commission