More terms
Issued and Outstanding Shares
Shares the company has issued and that remain held by shareholders; issued shares no longer outstanding, such as Treasury Stock, are excluded from the outstanding count.
What traders should verify
For Issued and Outstanding Shares, trace the instrument count, rights, price or conversion terms, vesting or maturity, measurement date, and later changes in filings.
Do not conflate
Do not treat Issued and Outstanding Shares as proof that shares are issued, outstanding, freely tradable, converted, exercised, vested, or sold unless the evidence establishes that state.
Primary source
SEC definitionSource boundary: this glossary reflects SEC staff views and is not a Commission rule, regulation, or statement. Check the linked source for current wording and legal context.
Related glossary terms
Related lessons
- Forget filings for a minute: dilution is a pie cut into more slices
- Why can one company have so many different “share counts”?
- Registered is not another share count: it is a sales path
- Why was the filing made? Start with primary versus resale
- Where do Form S-1, Form S-3, and Shelf fit on the timeline?
- Final lesson: calculate one company from beginning to end