What must a company report about a beneficial owner with stakes through multiple exempt entities?

The beneficial owner whose ownership interests of the reporting company are held through one or more entities, all of which are exempt from the definition of a reporting company. You don’t have to report information regarding individual beneficial owners. Rather, you may report the name of the exempt entities. 
For example, if a large operating company(exemption 21) holds 50% of the ownership interests in your company, it is considered exempt from the reporting requirements. This means the large operating company is not classified as a reporting company. If Individual A owns 50% of the large operating company, they consequently hold 25% of the ownership interests in your company (50% × 50% = 25%). In this case, you can report the name of the large operating company instead of Individual A's personal information.