Shares of stock that are authorized in the corporate charter but not yet issued. Unissued shares are issued on the direction of the corporation's board of directors. However, shares needed for rights, warrants, convertible securities and unexercised employee stock options must be reserved and cannot be issued. Unissued shares cannot pay dividends nor can it be voted. These shares are not the same as treasury stocks, which are issued shares but no longer outstanding. See: Convertible Securities; Issued And Outstanding; New Issue; Options; Outstanding Stock; Right; Treasury Stock; Warrant
Unissued stock is stock that has been authorised in a companies charter, but has never been sold. It differs from Treasury stock (in the UK, Treasury shares, as treasury stock means something else), in that treasury stock has been issued, and bought back by the company, where as unissued stock has never been issued.