A limited liability company (LLC) cannot issue shares of stock. An LLC is a business entity structured to have either single or multiple owners, who are referred to as the LLC's members. Members can be added and subtracted over the life of the LLC, and profits can be distributed in varying amounts to each of the members. These members, however, are not shareholders of the company.
Members of an LLC become owners according to the terms of a partnership agreement rather than through stock purchases. The percentage and membership units give them the right to share in the profits of the business and the right to vote on business matters.