"Authorized shares" refers to the number of shares the corporation is allowed to issue under its certificate or articles of incorporation. Outstanding shares are shares of stock that have been issued.You do not have to issue all shares authorized; that way, you have the flexibility to add more shareholders at a later date. Authorized and Issued shares in the company represent two different values of the total shares. Issued shares are drawn from the total pool of authorized shares and can never exceed the number of authorized shares. In this blog we'll explore the difference between a corporation's authorized, issued and reserved shares and some corporate governance considerations. The FDIC and its employees have a tradition of distinguished public service. Six core values guide us in accomplishing our mission:.