The Authorized Stock tab lists the number of shares of stock and the types of stock that have been issued for the respective corporate entity. Authorized stock is the maximum number of shares of stock a company can issue. It is initially specified in a company's charter (articles of incorporation), but it can be changed with shareholder approval. Authorized stock also be may referred to as authorized shares or shares authorized.
The Authorized Stock tab is accessed by clicking on the tab in the binder section of the Corporate Secretary notebook. If you have questions about entering or modifying tab data, refer to Adding Tab Data, Updating Tab Data, or Deleting Tab Data. The Authorized Stock tab displays in tabular view as described below.
|
Field |
Description |
Required (Y/N) |
|
Stock Class |
The kind of stock that has been authorized to be issued (e.g., Class A Common, Preferred, etc.). |
N |
|
# of Shares |
The number of shares of stock of the corporate entity that have been authorized for issue. Represents the number of shares that have been authorized for sale. |
N |
|
Currency |
The form of money in which the stockholders’ shares are valued. |
N |
|
Par Value |
The nominal dollar amount assigned to a security by the issuer. For an equity security, par is usually a very small amount that bears no relationship to its market price, except for preferred stock, in which case par is used to calculate dividend payments. Par value also can be called face value or simply par. Par value is not the current price of the stock that the market bears, nor does it reflect an actual valuation of the stock. Some stock has been designated as NPV (Net Present Value). Net Present Value is a calculated value of a stock that takes into consideration an investment's future net cash flows less the costs associated with the initial investment. |
N |
|
Authorized Date |
The date that the designated number of shares of stock have been authorized for sale. Defaults to the current date. If entering or updating a record, click in the field to open a calendar to select the applicable date. |
N |
|
Voting Rights |
The right of a common stock shareholder to vote, in person or by proxy, for members of the board of directors and other corporate matters, such as stock splits and substantial changes in operations. This freeform text field allows any kind of statement to be entered to describe the voting rights of the respective stockholder |
N |
|
Status/Notes |
A freeform text entry that describes the status of the authorized stock. Data describing how many shares were issued and outstanding can be stored in this column. Enter or view the contents of this field without scrolling by clicking |
N |
Note: LawManager tab records include fields containing audit and security information. For a detailed explanation of these fields, see Viewing Audit Fields and Security Information.
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