"Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. At December 31, 2023, reported the following stockholders' equity.If you hold certificated shares of Rockwell Collins common stock, you must properly complete a Letter of Transmittal and return it to Computershare. Authorized stock is the maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation. There's no legal requirement for the number of authorized shares. Your articles of incorporation set the number. The number of authorized shares is the maximum number of shares the corporation is permitted to issue, and is set forth in the certificate of incorporation. Every state demands that you supply three basic facts about your business: its corporate name, its registered agent and the number of authorized shares. O'Connor, Collin. 8. Authorized shares are the maximum number of shares that a company is permitted to issue to investors, as laid out in its articles of incorporation.