# Understand shares, reserves, and share classes

> Learn the difference between authorized, issued, treasury, and reserved equity.

- Category: Cap-table fundamentals
- Type: concept
- Audience: All users
- Last reviewed: 2026-08-25
- Canonical HTML: https://tekorax.com/help/fundamentals/shares-reserves/
- Content version: c20c9551b88cc1b1

## Core equity quantities

- **Authorized shares** — the ceiling established for the company, when applicable.
- **Issued shares** — shares already recorded in the company’s historical ownership ledger.
- **Treasury shares** — company-held shares available according to the company’s legal structure and recorded events.
- **Reserves** — contractual or planned equity positions that are not yet issued shares.

## Share classes

A share class groups shares with the same economic or voting characteristics. Select the class supported by the legal documents; do not use a new class merely to label a transaction.

**Issued is not projected**

Public API and MCP clients cannot delete issuances. The authenticated UX has a separate destructive erasure workflow whose required company access depends on the round type; it is not ordinary editing and may remove later issuance history.

## Reconcile quantities before making changes

Check the company total, each class total, and each stakeholder position on the same effective date. A reserve may affect projected dilution without being an issued share. If the legal records and Eqdeal use different terminology, identify the economic meaning before selecting a field.