Usg% stands for Usage Percentage; the formula is

Usg%= 100 * ( ( FGA + 0.44 * FTA + TOV ) * ( Tm MP / 5 ) ) / ( MP * ( Tm FGA + 0.44 * Tm FTA + Tm TOV ) )

What is Usage Percentage?

The usage percentage is a metric that estimates the percentage of his basketball  (external link) team's possessions a player "uses" while he is in the game. As players "use" more possessions, their overall efficiency tends to drop.


120917 ~ Sporting Charts explains Usage Percentage

In an effort to determine how much impact players have on their teams, sports statisticians have developed metrics such as Usage Percentage. Examining Usage percentage gives us an indication of how efficient a player is given the amount of possessions he uses.

What defines a quality player is someone who can have a high Usage percentage, but still plays at a high rate of efficiency. Teams can look at the Usage percentage of players on their team, and determine how to balance usage across their lineup to maximize team efficiency.

Although the formula itself looks a bit more complicated, the basic idea is to look at a player's combination of field goal attempts, free throw attempts and turnovers, and find the percentage of the team totals he uses in those same categories.

Some of the all-time leaders in this category include Michael Jordan, Allen Iverson?, George Gervin?, Dominique Wilkins? and Shaquille O'Neal?.
George Brown

Basketball  (external link)
2016-17 NBA Stats and Leaders: Regular Season, Advanced  (external link)

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