In which scenario is diluted shares outstanding not greater than basic shares outstanding?

The scenario where diluted shares outstanding is not greater than basic shares outstanding occurs when un-exercisable options are excluded. Basic shares outstanding typically refer to the number of shares that are currently issued and outstanding, while diluted shares outstanding consider all potential dilution from securities that could convert into equity, such as options and convertible debt.

When un-exercisable options are excluded from the calculation of diluted shares, the total continues to reflect only those shares that are available to shareholders, thus preventing any potential increase from those options. If no un-exercisable options or other dilutive securities are accounted for, the number of diluted shares outstanding will equal the number of basic shares outstanding, resulting in no increase.

The other options consist of scenarios that either involve the presence of un-exercisable options, where their effect would not be counted in the diluted share count, or suggest absolute statements that do not accommodate instances where no shares or only basic shares are counted.