Outstanding Shares
Shares currently held by shareholders, excluding any shares the company has bought back and holds in its own treasury.
Quick Answer
Is 'outstanding shares' the same thing as 'issued shares'?
Usually close, but not identical — outstanding shares exclude any treasury stock the company has repurchased and holds itself, while issued shares include that treasury stock in the historical total ever distributed.
- Treasury shares are the key difference between the two figures
- Most early-stage companies have no treasury shares yet
- This distinction matters more once buybacks start happening
The Lovie Advantage
Lovie accounts for treasury shares separately the moment a buyback occurs, keeping outstanding and issued counts accurate.
See how this connects to Stock Option Pool Refresh. For the formal definition, see the IRS's overview of sole proprietorships.
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