Table:
|  | July 31, 2019 | July 31, 2018 |
| --- | --- | --- |
| Exercise of stock options to purchase common stock | 216,727 | 537,064 |
| Vesting of restricted stock awards | 2,384,673 | 2,932,155 |
| Shares available for grant under stock plans | 24,776,361 | 21,592,494 |
| Total common stock reserved for issuance | 27,377,761 | 25,061,713 |
Paragraphs:
Common Stock Reserved for Issuance
As of July 31, 2019 and 2018, the Company was authorized to issue 500,000,000 shares of common stock with a par value of $0.0001 per share and, of these, 82,140,883 and 80,611,698 shares of common stock were issued and outstanding, respectively. Per the terms of the Company’s 2011 Stock Plan, on January first of each year, an additional number of shares equal to up to 5% of the number of shares of common stock issued and outstanding on the preceding December 31st is added to the Company’s 2011 Stock Plan reserve.
As of July 31, 2019 and 2018, the Company had reserved shares of common stock for future issuance as follows:
In March 2018, the Company completed a public offering of 2,628,571 shares of its common stock. The public offering price of the shares sold in the offering was $87.50 per share. No shares were sold by the Company’s stockholders in this public offering.
Question:
How many shares was the company authorized to issue in 2019 and 2018?
Answer: 500,000,000