Authorized Shares: List the total number of shares you are creating. Stock corporations must create at least one share."Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. Authorized stock is the maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation. ATI expects to grant the underwriter a 30day option to purchase up to 2,550,000 additional shares of common stock. Every state demands that you supply three basic facts about your business: its corporate name, its registered agent and the number of authorized shares.