The number of authorized shares is what may be issued.

The fee is based on the number of authorized shares within the corporation.

Times Mirror also said it would increase the authorized shares of regular common stock to 300 million, from 80 million.

Authorized Shares: Every corporation must issue shares of stock.

Stockholders approved an increase in authorized shares of common stock to 540 million, enabling the company to complete a 2-for-1 stock split.

The company's proxy material notes that without an increase in authorized shares, McDonald's would be unable to make a 2-for-1 split.

USX said the plan would increase the number of authorized shares, with 550 million being Marathon stock and 200 million being steel stock.

The American Telephone and Telegraph Company said it proposed to increase the number of its authorized shares of common stock to 1.5 billion, from 1.2 billion.

Toward the end of the first quarter ending in April, they said, Federated would go public and the authorized shares would then assume some form of market value.

The companies' shareholders must approve the merger, and Tele-Communications stockholders must also have approve a rise in the number of authorized shares of stock, the companies said.

After perusing options programs at large companies, TIAA-CREF identified 13 companies with programs it considered significantly dilutive to shareholders, if all authorized shares are granted.

The company is also seeking shareholder approval to increase the number of authorized shares outstanding to 850 million from 200 million, according to a proxy statement filed with the Securities and Exchange Commission.

Some or all of the authorized shares will be issued to shareholders (and are called issued shares or called-up shares), with an issue price which can exceed the par value but cannot be less than the par value.

In December, Seragen's board - which included Mr. Silber, Mr. Cassidy and Kenneth Condon, the university's treasurer - voted to raise the number of authorized shares in the company to 70 million from 30 million.