What is included in Shares Outstanding Fully Diluted?

Shares Outstanding Fully Diluted is equal to basic shares outstanding at a specific point in time + additional shares that could be created if dilutive securities were converted/exercised.

This can include:

• Basic shares outstanding

• Shares from in-the-money stock options

• Shares from warrants

• Shares from convertible securities (e.g., convertible bonds/preferred shares)

• Other securities that would result in additional shares upon conversion/exercise

The key point is that it represents the potential total share count after considering dilutive instruments, not just the shares currently issued and outstanding.

Example:

If a company has 100M basic shares and another 10M shares could result from in-the-money options and convertibles, fully diluted shares would be approximately 110M.