I am looking at a company's statistics on the OTC market and I'm confused about the difference between Float and Unrestricted shares. I thought that both are calculated using the formula
outstanding shares - restricted shares. What is the difference?
From my understanding:
Unrestricted shares = outstanding shares - restricted shares.
Float = unrestricted shares - shares "held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a “control person”), or any affiliates thereof, or any immediate family members of officers, directors and control persons".