Outstanding shares are stock currently held by investors, including restricted shares owned by the company's officers and insiders, as well as those held by the public. Shares that have been repurchased by the company are not considered outstanding stock.
The number of outstanding shares is shown on a company's balance sheet under "Capital Stock". It is more important than the authorized shares or float. It is used to calculate a number of metrics, including market capitalization and earnings per share.
- Outstanding Shares. Investopedia.