How to Move Your Cap Table Before Pulley Shuts Down

Pulley is scheduled to cease operations and normal platform support on December 8, 2026. Existing customers can accept the arranged Carta transition or export their records and move elsewhere, but the safest order is the same: preserve the complete corporate record now, reconcile it, and only then authorize an import (TechCrunch; BPM).

Enter your stakeholder count and priority; the tool will identify the best-supported path and flag evidence that still needs vendor confirmation.

Treat December 8 as the Migration Deadline

Three dates govern the shutdown process:

The November 30 and January 31 dates are reported by BPM. The full terms of the Carta migration offer are not included in the available source material, so the public Carta product tiers should not be treated as the offer itself.

Before opting in, ask Carta to state the migration scope, first-year price, renewal price, stakeholder assumptions, included services, treatment of historical records, and export rights. A promotional transition can still produce a poor long-term fit if the renewal tier or required add-ons are unclear.

Export the Corporate Record Before Selecting a Vendor

A migration can fail in two ways. Records can be omitted during transfer, or existing cap-table errors can be reproduced accurately in the destination. An independent archive protects against the first problem and gives the company the evidence needed to identify the second.

Pulley provides four separate retrieval paths in its export instructions:

1. Download the complete data room. Use Company → Data Room → Download All to obtain a ZIP containing uploaded agreements, board consents, generated documents, and the existing folder hierarchy.
2. Export the all-time cap table. Use Cap Table or Dashboard → Download Cap Table, retain the All Time setting, and download the .xlsx file. A current ownership snapshot is insufficient because it omits the history needed to reconstruct how the company reached its present position.
3. Download all electronic share certificates. Pulley provides a separate bulk download under Certificates.
4. Generate transaction and audit reports. Preserve the granted-securities, vesting-details, exercised-options, and cancelled-securities reports, along with any other reports material to the company.

Store the original archive somewhere controlled by the company, with access assigned to the appropriate finance, legal, and executive owners. Do not edit the original files. Perform reconciliation in working copies and preserve the originals as received from Pulley.

The archive should include, where applicable:

• the certificate of incorporation and amendments;
• board and stockholder approvals;
• founder stock purchase documents;
• equity incentive plans and amendments;
• signed option, restricted-stock, and advisor grant documents;
• exercise, repurchase, cancellation, and termination records;
• SAFEs, convertible notes, and warrants;
• financing documents and pro formas;
• every historical 409A report; and
• stakeholder contact and tax-related records the company is permitted to retain.

The platform view does not replace the documents authorizing an issuance. If ownership terminology is obstructing the review, this cap table guide explains the difference between outstanding and fully diluted ownership.

Carta Is the Fastest Arranged Path, Not an Automatic Choice

Carta is the only assisted destination identified as part of Pulley’s arranged transition. Its published Launch plan includes cap-table management, securities issuance, option exercises and repurchases, ISO administration, SAFE modeling, and HRIS/payroll integrations. The published qualification is up to 25 stakeholders and $1 million raised.

Higher tiers add priced-round modeling, 409A valuations, ASC 718 reporting, Rule 701 management, and IFRS reporting. Carta does not publish prices for its Build, Grow, and Scale tiers on its pricing page.

That makes Carta a reasonable default when continuity and migration speed outweigh the desire to avoid further consolidation with a large provider. It does not establish what a particular Pulley customer will pay or which corrections Carta will perform during migration.

Require a written answer to these questions before accepting:

• Which Pulley files and transaction types will Carta import?
• Will Carta reconstruct the complete transaction history or only opening balances?
• Who resolves discrepancies between spreadsheets and signed documents?
• Does the offer include a 409A valuation, and under what conditions?
• What is the price after the migration term expires?
• Which features require a higher tier?
• Can the company export its complete history, documents, and audit trail without professional-services fees?

If the answers remain incomplete near the opt-in deadline, preserve the exports regardless. Accepting or rejecting Carta should not determine whether the company retains its records.

Eqvista Has the Clearest Low-Cost Published Entry Point

Eqvista publishes a free plan for companies with fewer than 20 stakeholders and a Premium plan at $2 per stakeholder per month, with custom pricing above 50 stakeholders. Premium features listed by the vendor include SAFE e-signing, board resolutions, Rule 701 and Form 3921 workflows, round modeling, and waterfall modeling.

A cap-table-and-409A bundle starts at $990 per year for a pre-revenue company, according to Eqvista’s pricing. That figure should not be applied to a revenue-generating company or assumed to cover every valuation scenario.

Eqvista is therefore the strongest evidenced starting point in this source set for a cost-sensitive company below 20 stakeholders, especially if avoiding Carta is an explicit objective. The company still needs to verify migration corrections, valuation terms, audit support, security coverage, and later-stage reporting against its own requirements.

Model cost using the expected stakeholder count after the next financing and hiring cycle, not only the current count. A plan that is free today may move into a paid or custom tier as employees, advisors, investors, and former holders accumulate.

Cake Provides Another Published-Pricing Benchmark

Cake Equity is not part of Pulley’s arranged transition, but its published plans provide a useful benchmark. Cake lists a $1,000 annual Build plan for 25 stakeholders and a $2,750 annual Team plan for 40 stakeholders, with two 409A valuations included in Team. It also says Pulley migrations are managed without charge and that customers can review the reconstructed cap table before paying (Cake pricing).

Cake’s Pulley migration guide requests the cap table, stakeholder report, and vesting-details report. It separately warns that signed agreements, board consents, and previous 409A reports must be downloaded.

That distinction applies to every destination: importing a few spreadsheets does not preserve the complete corporate record. Confirm that Cake’s workflows cover every security, reporting requirement, and jurisdiction the company uses before treating its published package as directly comparable.

Ledgy and Fidelity Require Fresh Vendor Evidence

The supplied source set does not establish current pricing, Pulley-specific migration assistance, bundled 409A terms, stakeholder limits, or international coverage for Ledgy or Fidelity Private Shares. Those products therefore cannot be responsibly ranked above Carta or Eqvista on those criteria from the available evidence.

They can still be included in a request-for-proposal process, particularly when avoiding Carta or supporting international stakeholders is central to the decision. Ask each vendor to respond against the same transaction inventory and provide a written quote covering implementation, corrections, recurring fees, valuations, jurisdictional support, reporting, and complete exports.

Do not infer international suitability from a vendor’s general market presence. Obtain confirmation for the jurisdictions, security types, tax workflows, and stakeholder residency patterns the company actually has.

Reconcile Every Security Before Going Live

Assign one internal owner and one reviewer. Compare the destination against Pulley’s exports and the signed authorizing documents rather than comparing only the old and new dashboards.

Test these items explicitly:

• authorized, issued, and outstanding shares by class;
• each holder’s security type, quantity, issue date, and purchase price;
• option-pool authorization, grants, cancellations, and remaining availability;
• vesting commencement dates, cliffs, acceleration, and exercised amounts;
• SAFE and note principal, cap, discount, interest, and conversion status;
• warrants and other contingent rights;
• historical transactions rather than only present balances; and
• fully diluted ownership before and after migration.

Record each discrepancy, the controlling source document, the correction made, and the person who approved it. Unresolved ownership questions should go to company counsel rather than being forced to match an old dashboard.

Before closing the Pulley account, generate the same current cap table, fully diluted view, stakeholder totals, and vesting report from both systems. Obtain written migration sign-off from the responsible company officer and retain the reconciliation workbook with the corporate records.

The selected platform should be able to reproduce the ownership history, support the next financing, and return the company’s records in a usable form. Migration speed matters before December 8, but it should not come at the cost of another data-recovery problem later.