Per the instructions at the top of the S50, you have to report only shareholders who hold 10% or more of the shares. (I assume that means “votes and value”?) So, if the “Outstanding” includes a large number of shareholders, you can ignore them on the S50.
@kingsmen.assetmgt
When you say that shares are “outstanding” it means they have been ISSUED to someone - not held by the corporation.
S50 is just for reporting the share-HOLDERS. If the shares have not been issued to anyone, then nobody is “holding” them, so for tax purposes they don’t exist.
Make sense?