More terms
Authorized Shares
The maximum number of shares a company may issue under its charter or other organizational documents.
What traders should verify
For Authorized Shares, trace the instrument count, rights, price or conversion terms, vesting or maturity, measurement date, and later changes in filings.
Do not conflate
Do not treat Authorized Shares as proof that shares are issued, outstanding, freely tradable, converted, exercised, vested, or sold unless the evidence establishes that state.
Primary source
SEC definitionSource boundary: this glossary reflects SEC staff views and is not a Commission rule, regulation, or statement. Check the linked source for current wording and legal context.
Related glossary terms
Related lessons
- Why can one company have so many different “share counts”?
- Registered is not another share count: it is a sales path
- Why was the filing made? Start with primary versus resale
- Where do Form S-1, Form S-3, and Shelf fit on the timeline?
- Why can a “$1,000 facility” provide only $200 now?
- Final lesson: calculate one company from beginning to end