The formula for calculating the shares outstanding consists of subtracting the shares repurchased from the total shares issued to date. The outstanding shares formula is represented as issued shares minus shares held in the company's treasury or treasury stock.In this video, we will study the definition, types of Outstanding Shares and its impact on investors. What are Outstanding Shares(stocks)? The number of basic shares outstanding is calculated as the number of shares issued (1,192,093,991) less treasury stock (428,676,471). Outstanding shares represent the number of a company's shares that are traded on the secondary market and, therefore, are available to investors. Issued and outstanding.