JackAskSlap, with the Authorized Shares (AS)...
The AS is not important or at least not to me in this situation. In my opinion, the Outstanding Shares (OS) is what's important because the OS is the key fundamental denominator that's used to assess the fundamental valuation of a company via deriving the Earnings Per Share (EPS).
It's more important to me that they are buying back half the OS and retiring them back to the Treasury regardless to what the AS is.
For inquiring minds though, back on I think Jan 2, 2019, the AS was increased to make room for notes that are never going to hit the market of which they referenced them in the PR. They increased it to be in line with the SEC to have such cushion in their Treasury of Shares for worse case reasoning... even if they are never going to hit the market. When the OS is reduced and all of the debt is paid, I am very confident that we will see a huge reduction in the AS too.
v/r
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