The current organization model distinguishes authorized, issued, treasury, outstanding, held, and reserved shares. All are whole shares. Evidence
| Field | Meaning |
|---|---|
| Authorized shares | Capacity tracked by the organization; follow-on funding increases it |
| Issued shares | Total created, including shares held in treasury |
| Treasury shares | Issued shares held by the organization rather than an outside holder |
| Outstanding shares | max(1, issued shares) − treasury shares, clamped nonnegative |
| Holder shares | Direct player shares or shares held by another organization |
| Reserved shares | Existing or treasury shares committed to an active sell order |
Displayed stake is held shares divided by outstanding shares. Snapshot labels are Majority at 50% or more, Blocking at 25%, Influence at 10%, Stake at 5%, and Minor below 5%. These labels describe stake size; operational control follows the effective largest-holder rule. Evidence
An active sell order locks its quantity from other sales. A bid locks the buyer’s Noctmarks in escrow. Treasury shares receive no dividend because dividends iterate current player and organization holders only.