In the early round, the result for an applicant is:
A. Admit.
B. On the “borderline” – possibility of admit, waitlist, or reject, depending on comparison to the regular round applicants.
C. Far below the “borderline” – very unlikely to be anything but reject, unless the regular round applicant pool is far weaker than typical or expected.
Supposedly, some colleges (supposedly including Stanford) will only defer category B and deliver reject notices to category C, but other colleges will defer most of category C as well as B.