1. Short title This Act may be cited as the Advancing Long-term Incentives for Governance Now Act or the ALIGN Act . 2. Restrictions on sale of shares following stock buybacks (a) Definitions In this section: (1) Covered issuer The term covered issuer means an issuer, a security of which is registered under subsection (b) or (g) of section 12 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78l ). (2) Covered person The term covered person means an executive officer, as that term is defined in section 240.3b–7 of title 17, Code of Federal Regulations, or any successor regulation, with respect to a covered issuer. (3) Equity security; issuer; security The terms equity security , issuer , and security have the meanings given the terms in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) ). (4) Share repurchase authorization The term share repurchase authorization means an authorization by the board of directors of a covered issuer to purchase shares of the covered issuer. (5) Subject security The term subject security means any equity security of a covered issuer that is awarded to a covered person with respect to that covered issuer as part of the compensation of that covered person. (b) Disclosure of share repurchase authorization (1) In general Not later than 180 days after the date of enactment of this Act, the Securities and Exchange Commission shall issue regulations to require covered issuers to publicly disclose a share repurchase authorization not later than 1 business day after the authorization has occurred. (2) Contents In issuing regulations under paragraph (1), the Securities and Exchange Commission shall ensure that each disclosure required under those regulations is— (A) uniform for all covered issuers; and (B) made in a manner that— (i) maintains accuracy