Understand shares, reserves, and share classes

Learn the difference between authorized, issued, treasury, and reserved equity.

Last reviewed: 2026-08-25

Core equity quantities

• Authorized shares — the ceiling established for the company, when applicable.
• Issued shares — shares already recorded in the company’s historical ownership ledger.
• Treasury shares — company-held shares available according to the company’s legal structure and recorded events.
• Reserves — contractual or planned equity positions that are not yet issued shares.

Share classes

A share class groups shares with the same economic or voting characteristics. Select the class supported by the legal documents; do not use a new class merely to label a transaction.