This guide walks you through downloading Pulley’s cap table template, understanding its structure, and filling it out correctly with your company’s equity data.
Before you start: This guide focuses on cap table formatting. For the complete upload process (adding admins, uploading documents, submitting), see Populating your Pulley dashboard.
👉 To learn more about cap tables, read our guide here.
Download the template
Pulley provides two standardized Excel templates based on your company’s legal structure. Mandatory fields are highlighted in red, recommended fields in yellow. Select and download or make a copy of the template’s below:
Choose your template:
C-Corporation: Most venture-backed startups are C-Corps. This template includes shares, stock options, RSAs, RSUs, SAFEs, convertible notes, and warrants.
Limited Liability Company (LLC): If your company is structured as an LLC, use this template. It includes units, profits interests, phantom stock, options, SAFEs, convertible notes, and warrants.
💡 Not sure which you are? Check your formation documents (Certificate of Incorporation vs. Articles of Organization) or ask your lawyer. Most VC-backed startups are C-Corps.
Using your own cap table instead?
You can upload your own Excel file, but it must include all mandatory fields for each security type. Use Pulley’s template as a reference to ensure nothing is missing.
Template structure
Both C-Corp and LLC templates contain 9 sheets, with some sheets common to both and others specific to your entity type.
Common sheets (both C-Corps and LLCs)
Sheet | Required for | What it tracks |
Summary | Everyone (read first) | Instructions and overview |
Stakeholder Details | Everyone | All people and entities on your cap table |
Options | Companies with employee equity compensation | Option grants |
SAFEs | Companies that raised via SAFEs | SAFE agreements |
Convertible Notes | Companies that raised via convertible debt | Convertible note agreements |
Warrants | Companies that issued warrants | Warrant agreements |
C-Corporation specific sheets
Sheet | Required for | What it tracks |
Shares | Everyone | Common and preferred stock issuances |
Restricted Stock Awards | Companies with RSAs | Any shares issued under an equity plan |
Restricted Stock Units | Companies with RSUs | RSU grants |
LLC specific sheets
Sheet | Required for | What it tracks |
Units | Everyone | Membership units (LLC equivalent of shares) |
Profits Interests | Companies with profits interests | Profits interest grants (LLC equity compensation) |
Phantom Stock | Companies with phantom equity | Phantom stock/unit grants |
What sheets do you need?
You only need to fill out sheets relevant to your company’s equity structure. Based on your questionnaire answers:
You answered… | C-Corps: Fill out these sheets | LLCs: Fill out these sheets |
Everyone | Summary, Stakeholder Details, Shares | Summary, Stakeholder Details, Units |
“I have raised a priced round” (C-Corps only) | Add preferred stock details to Shares sheet | N/A |
“I have raised SAFEs or convertible notes” | SAFEs and/or Convertible Notes | SAFEs and/or Convertible Notes |
“Yes” to ESOP/Equity Incentive Plan | Options, RSAs, and/or RSUs (as applicable) | Options and/or Profits Interests (as applicable) |
“Yes” to issued warrants | Warrants | Warrants |
Note on Phantom Stock: This sheet is available in the LLC template but isn’t tied to a questionnaire answer. Include it if you’ve granted phantom equity to service providers or employees.
Universal guidelines
Before you start filling out any sheet, review these important rules:
Date format: Always use
MM/DD/YYYY(notMM-DD-YYYYor any other format)Stakeholder names: Use the exact same name across all sheets. "Jane Doe" on one sheet and "J. Doe" on another will cause errors.
Field categories:
Red (Required): Must complete these
Yellow (Recommended): All fields in this guide are recommended for accurate record-keeping, but only red fields are strictly required
White (Optional): Helpful but not critical
Column groupings: The template organizes columns into groups separated by borders (e.g., vesting columns, cancellation columns). If you fill in one field within a bordered group, be sure to complete all fields in that group.
👉 Exception: This does not apply to cells within the "Miscellaneous" groupings.
Comments: Use Excel's comment feature to add context or notes for the Pulley team
Below is a video walkthrough outlining our Cap Table spreadsheet best practices for successfully populating your Cap Table in Pulley:
Field requirements by security type
We recommend filling out all fields outlined below for recordkeeping and data clarity. At minimum, you must complete the required fields marked in the tables.
Common sheets (both C-Corps and LLCs)
The following sheets appear in both templates with identical or nearly identical field requirements:
Stakeholder Details (mandatory for everyone)
This sheet lists all people and entities on your cap table with their contact information and relationship status.
Field name | Type | Description | Example |
Stakeholder Name | Required | Full legal name of person or entity | Jane Doe or Acme Ventures LLC |
Stakeholder Email | Recommended | Email address (required if you want them to access Pulley) | |
Relationship | Recommended | Current relationship to company | Founder, Employee, Investor, Advisor, Former Employee |
Termination Type | Recommended | Type of separation (if terminated) | Voluntary, Involuntary, With Cause, Disability, Death |
Termination Date | Recommended | Date employment/relationship ended | 06/15/2024 |
Vesting Stop Date | Recommended | When vesting stopped | 06/15/2024 |
Last date to exercise options/warrants | Recommended | End of post-termination exercise window | 09/15/2024 |
Last date to repurchase shares/units | Recommended | Company’s repurchase deadline | 06/15/2024 |
Address | Recommended | Full mailing address | 123 Main St |
City | Recommended | City | San Francisco |
State | Recommended | State/Province | CA |
Country | Recommended | Country | USA |
Zip Code | Recommended | Postal code | 94102 |
Note on termination fields: If you fill in one termination field, complete all relevant termination fields for that stakeholder.
Options
Both C-Corps and LLCs can grant options. The fields are nearly identical, with one difference noted below.
Field name | Type | Description | Example |
Stakeholder Name | Required | Must match Stakeholder Details | John Smith |
Issue Date | Required | Grant date | 03/01/2023 |
Options Issued (Quantity) | Required | Number of options granted | 50,000 |
Exercise Price | Required | Strike price per share/unit | $1.00 |
Plan Name | Required if your company has more than one plan; otherwise Recommended | Equity plan options issued from | 2022 Stock Option Plan |
ID | Recommended | Grant ID | OPT-001 |
Options Outstanding | Recommended | Number still outstanding | 45,000 |
Vesting Schedule | Recommended | Vesting terms | 4 years monthly, 1 year cliff |
Vesting Commencement Date | Recommended | When vesting started | 03/01/2023 |
Acceleration | Recommended | Acceleration provisions | Double-trigger, 50% |
Acceleration Notes | Recommended | Details | 50% on termination within 12 mo of acquisition |
Cancelled Date | Recommended | When options were cancelled (if applicable) | 05/15/2024 |
C-Corp only field:
Field name | Type | Description | Example |
Type | Required | Option type (C-Corps only) | ISO, NSO, International |
Note for C-Corps: The “Type” field is required to distinguish between ISOs (Incentive Stock Options) and NSOs (Non-Qualified Stock Options) for tax purposes. This field doesn’t exist in the LLC template.
SAFEs
Complete this sheet if you answered that you raised SAFEs in the questionnaire.
Field name | Type | Description | Example |
Stakeholder | Required | Investor name | Angel Investor LLC |
Principal | Required | Investment amount | $100,000 |
Convertible Type | Required | Pre-money or Post-money | Post-Money |
Issue Date | Required | Date SAFE was signed | 06/15/2023 |
Valuation Cap | Recommended | Maximum valuation for conversion | $10,000,000 |
Conversion Discount | Recommended | Discount percentage | 20% |
ID | Recommended | SAFE identifier | SAFE-001 |
MFN Date | Recommended | Most Favored Nation date (if applicable) | 09/15/2023 |
Pro Rata Ownership % | Recommended | Pro-rata rights percentage | 2.5% |
Converted To | Recommended | What the SAFE converted into | PS-001 or U-001 |
Federal Exemption | Recommended | Securities exemption | Reg D, Rule 506(b) |
Board Approval Date | Recommended | Board approval date | 06/01/2023 |
Cancelled Date | Recommended | Cancellation date (if applicable) | 08/01/2024 |
Cancellation Reason | Recommended | Reason | Investor withdrawal, Mutual agreement |
Convertible Notes
Complete this sheet if you answered that you raised convertible notes in the questionnaire.
Field name | Type | Description | Example |
Stakeholder | Required | Investor name | Investor Fund LP |
Issue Date | Required | Note issuance date | 03/01/2023 |
Principal | Required | Loan amount | $250,000 |
Interest Rate (%) | Required | Annual interest rate | 5% |
Interest Type | Required | How interest accrues | Simple, Compounding |
Interest Accrual Period | Required | When interest accrues | Monthly, Quarterly, Annually |
Day Count Basis | Required | Day counting method | Actual/360, Actual/365, 30/360 |
Maturity Date | Required | When note is due | 03/01/2025 |
Conversion Type | Recommended | Pre-money or Post-money | Pre-Money |
Valuation Cap | Recommended | Maximum conversion valuation | $8,000,000 |
Conversion Discount | Recommended | Discount on next round | 20% |
ID | Recommended | Note identifier | CN-001 |
Interest Accrual Start Date | Recommended | When interest starts accruing | 03/01/2023 |
Interest Accrual End Date | Recommended | When interest stops accruing | 03/01/2025 |
Note on interest fields: All interest-related fields (Interest Rate, Interest Type, Interest Accrual Period, Day Count Basis) must be completed together as they’re part of the same column grouping.
Warrants
Complete this sheet if you answered “Yes” to issuing warrants in the questionnaire.
Common fields:
Field name | Type | Description | Example |
Stakeholder Name | Required | Warrant holder name | Silicon Valley Bank |
Issue Date | Required | Warrant issue date | 07/01/2023 |
Warrants Issued (Quantity) | Required | Number of warrants issued | 50,000 |
Exercise Price | Required | Price to exercise warrant | $1.50 |
ID | Recommended | Warrant identifier | WAR-001 |
Warrants Outstanding | Recommended | Number still outstanding | 50,000 |
Early Exercise? | Recommended | Can exercise before vesting? | Yes / No |
Vesting Schedule | Recommended | Vesting terms (if applicable) | 2 years monthly |
Vesting Commencement Date | Recommended | Vesting start date | 07/01/2023 |
Cancelled Date | Recommended | Cancellation date (if cancelled) | 12/01/2024 |
Cancellation Reason | Recommended | Reason for cancellation | Expiration, Termination |
Quantity Exercised | Recommended | Number of warrants exercised | 25,000 |
Unexercised Quantity Canceled | Recommended | Remaining warrants cancelled | 25,000 |
Entity-specific field:
There is one field difference between the C-Corp and LLC Warrants. Each of the following fields is required for its respective sheet.
Field name | Type | Description | Example |
Share Class (C-Corps) | Required | Type of shares warrant converts to | Common, Series A Preferred |
Unit Class (LLCs) | Required | Type of units warrant converts to | Class A Units, Class B Units |
C-Corporation specific sheets
The following sheets only appear in the C-Corp template:
Shares (mandatory for C-Corps)
This sheet tracks all common and preferred stock issuances.
Field name | Type | Description | Example |
Stakeholder Name | Required | Must match name in Stakeholder Details sheet | Jane Doe |
Share Class | Required | Type of shares issued | Common, Series A Preferred, Series Seed |
Shares Issued (Quantity) | Required | Total number of shares issued | 1,000,000 |
Issue Date | Required | When shares were issued | 01/15/2023 |
Certificate Number | Recommended | Certificate ID for tracking | CS-001 |
Price per Share | Recommended | Price paid per share | $0.50 |
Capital Contribution | Recommended | Total cash paid for shares | $500,000 |
Vesting Schedule | Recommended | Description of vesting terms | 4 years monthly, 1 year cliff |
Vesting Commencement Date | Recommended | When vesting started | 01/15/2023 |
Acceleration | Recommended | Any acceleration provisions | Single-trigger on acquisition |
Acceleration Notes | Recommended | Details about acceleration | 100% vests on change of control |
Cancelled Date | Recommended | When shares were cancelled (if applicable) | 08/01/2024 |
Cancellation Reason | Recommended | Why shares were cancelled | Termination, Buyback, Conversion |
Note on vesting: If shares vest, include both Vesting Schedule and Vesting Commencement Date.
Restricted Stock Awards (RSAs)
Complete this sheet if you have granted RSAs (typically founder shares or early employee shares subject to vesting).
Field name | Type | Description | Example |
Stakeholder Name | Required | Must match Stakeholder Details | Jane Doe |
Issue Date | Required | When RSAs were granted | 01/01/2021 |
RSAs Granted (Quantity) | Required | Number of RSAs granted | 2,000,000 |
Plan Name | Required if your company has more than one plan; otherwise Recommended | Equity plan RSAs issued from | 2021 Equity Incentive Plan |
ID | Recommended | Certificate ID | RSA-001 |
RSAs Outstanding | Recommended | Number still outstanding | 1,500,000 |
Price Per Share | Recommended | Par value paid | $0.0001 |
Capital Contribution | Recommended | Total amount paid | $200 |
Vesting Schedule | Recommended | Vesting terms | 4 years monthly |
Vesting Commencement Date | Recommended | Vesting start date | 01/01/2021 |
Acceleration | Recommended | Acceleration provisions | Single-trigger 100% |
Acceleration Notes | Recommended | Details | Full acceleration on acquisition |
Cancelled Date | Recommended | When RSAs were cancelled (if applicable) | 06/30/2023 |
Cancellation Reason | Recommended | Reason for cancellation | Termination, Buyback |
Restricted Stock Units (RSUs)
Complete this sheet if you have granted RSUs.
Field name | Type | Description | Example |
Stakeholder Name | Required | Must match Stakeholder Details | John Smith |
Issue Date | Required | Grant date | 05/01/2023 |
RSUs Issued (Quantity) | Required | Number of RSUs granted | 25,000 |
Plan Name | Required if your company has more than one plan; otherwise Recommended | Equity plan RSUs issued from | 2023 Equity Incentive Plan |
ID | Recommended | Grant ID | RSU-001 |
RSUs Outstanding | Recommended | Number still outstanding | 25,000 |
Price Per Share | Recommended | Valuation at grant (per 409A) | $2.50 |
Vesting Schedule | Recommended | Vesting terms | 4 years quarterly |
Vesting Commencement Date | Recommended | Vesting start date | 05/01/2023 |
Acceleration | Recommended | Acceleration provisions | Double-trigger 25% |
Acceleration Notes | Recommended | Details | 25% accelerates on qualifying termination after acquisition |
Board Approval Date | Recommended | When board approved grant | 04/15/2023 |
Cancelled Date | Recommended | Cancellation date (if applicable) | 12/31/2024 |
Cancellation Reason | Recommended | Reason | Termination, Forfeiture |
LLC specific sheets
The following sheets only appear in the LLC template:
Units (mandatory for LLCs)
This sheet tracks all membership unit issuances. LLCs have units instead of shares.
Field name | Type | Description | Example |
Stakeholder Name | Required | Must match name in Stakeholder Details sheet | Jane Doe |
Unit Class | Required | Type of units issued | Class A Units, Class B Units |
Units Issued (Quantity) | Required | Total number of units issued | 1,000,000 |
Issue Date | Required | When units were issued | 01/15/2023 |
Certificate Number | Recommended | Certificate ID for tracking | U-001 |
Price per Unit | Recommended | Price paid per unit | $0.50 |
Capital Contribution | Recommended | Total cash paid for units | $500,000 |
Vesting Schedule | Recommended | Description of vesting terms | 4 years monthly, 1 year cliff |
Vesting Commencement Date | Recommended | When vesting started | 01/15/2023 |
Acceleration | Recommended | Any acceleration provisions | Single-trigger on acquisition |
Acceleration Notes | Recommended | Details about acceleration | 100% vests on change of control |
Cancelled Date | Recommended | When units were cancelled (if applicable) | 08/01/2024 |
Cancellation Reason | Recommended | Why units were cancelled | Termination, Buyback, Conversion |
Note: Units function like shares in C-Corps but represent membership interests in an LLC.
Profits Interests (LLCs only)
Complete this sheet if you have granted profits interests. These are LLC-specific equity compensation that give recipients a share of future profits and appreciation.
Field name | Type | Description | Example |
Stakeholder Name | Required | Must match Stakeholder Details | Jane Doe |
Issue Date | Required | Grant date | 01/01/2021 |
Profits Interests Granted (%) | Required | Percentage of profits interests granted | 5 (number value of percentage only) |
Plan Name | Required if your company has more than one plan; otherwise Recommended | Equity plan profits interests issued from | 2021 LLC Equity Plan |
ID | Recommended | Grant ID | PI-001 |
Profits Interests Outstanding (%) | Recommended | Percentage still outstanding | 4% |
Hurdle Amount | Recommended | Threshold value before participation | $1,000,000 |
Vesting Schedule | Recommended | Vesting terms | 4 years monthly |
Vesting Commencement Date | Recommended | Vesting start date | 01/01/2021 |
Acceleration | Recommended | Acceleration provisions | Single-trigger 100% |
Acceleration Notes | Recommended | Details | Full acceleration on acquisition |
Cancelled Date | Recommended | When cancelled (if applicable) | 06/30/2023 |
Cancellation Reason | Recommended | Reason for cancellation | Termination, Forfeiture |
Note: Profits interests are taxed differently than shares or units. Recipients generally don’t pay tax at grant but pay capital gains tax on appreciation.
Phantom Stock (LLCs only)
Complete this sheet if you have granted phantom stock/units. These provide cash bonuses tied to the value of equity without granting actual ownership.
Field name | Type | Description | Example |
Stakeholder Name | Required | Must match Stakeholder Details | John Smith |
Issue Date | Required | Grant date | 05/01/2023 |
Phantom Units Granted (Quantity) | Required | Number of phantom units granted | 25,000 |
ID | Recommended | Grant ID | PS-001 |
Phantom Units Outstanding | Recommended | Number still outstanding | 25,000 |
Settlement Terms | Recommended | When/how phantom units pay out | Upon liquidity event, cash settlement |
Vesting Schedule | Recommended | Vesting terms | 4 years quarterly |
Vesting Commencement Date | Recommended | Vesting start date | 05/01/2023 |
Acceleration | Recommended | Acceleration provisions | Double-trigger 25% |
Acceleration Notes | Recommended | Details | 25% accelerates on qualifying termination after acquisition |
Cancelled Date | Recommended | Cancellation date (if applicable) | 12/31/2024 |
Cancellation Reason | Recommended | Reason | Termination, Forfeiture |
Note: Phantom stock doesn’t grant actual ownership or voting rights. It’s a cash bonus tied to equity value.
Including historical data
Your cap table should reflect your complete equity history, not just current status.
Why this matters: Pulley needs to understand your complete equity story for accurate tracking, compliance, and reporting. Missing historical data can cause compliance issues or inaccurate reports.
Include:
Terminated employees with termination dates and types
Exercised options even if the person no longer holds them
Cancelled securities with cancellation dates and reasons
Transferred shares with transfer dates and recipients
Repurchased shares with repurchase dates and amounts
Example: An early employee joined, got equity, exercised some options, then left after 2 years. Include:
Their stakeholder details with termination date
Their original option grant
Their exercise transaction
Their remaining unvested options that were cancelled
Common cap table mistakes
Inconsistent stakeholder names: Use the exact same legal name everywhere. Not "Jane Doe" on Shares and "J. Doe" on Options.
Wrong date format: Must be
MM/DD/YYYY. Excel sometimes auto-formats dates incorrectl. Please double check before uploading.Incomplete vesting information: If anything vests, include both the vesting schedule AND vesting commencement date. Missing one creates confusion.
Missing terminated employees: Include everyone who was ever on your cap table, even if they've left. Mark their termination date and type in Stakeholder Details.
Forgetting historical transactions: Include exercised options, cancelled grants, transferred shares, and repurchases. This is part of your equity history and required for compliance.
Blank mandatory fields: Red-highlighted fields must be completed. Leaving them blank will delay your onboarding.
Not tracking exercises separately: When someone exercises options, you need to show both: the original option grant, and the exercise event (options converted to shares)
Tips for complex cap tables
Multiple funding rounds: Include all rounds with complete investor details. Each round should show up clearly in your Shares sheet with distinct share classes (Series Seed, Series A, Series B, etc.).
Many option grants: Use consistent vesting schedule descriptions (e.g., "4 years monthly, 1 year cliff") to make bulk updates easier later. Consider using the same vesting template for similar roles.
Converted SAFEs: Include both the original SAFE details in the SAFEs sheet, and the converted shares in the Shares sheet. Mark the SAFE as converted and note which shares it converted into.
Acquisitions or mergers: Include your pre-acquisition cap table structure and clearly note when the acquisition occurred. For complex scenarios, contact onboarding@pulley.com for guidance.
Multiple equity plans: Clearly indicate which plan each grant comes from in the "Plan Name" field. This is critical if you have multiple active plans.
International employees: Use "International" as the option type for employees outside the US who receive stock options. These don't qualify for ISO treatment.
Need help?
Stuck on a specific field? Reference the field requirements tables above for that security type.
Unusual situation or complex cap table? Email onboarding@pulley.com with your question. Reference your onboarding thread.
Not sure if something is required? When in doubt, include it. More information is better than less, and you can always provide additional context in Excel comments.
Continue the upload process
Once you've filled out your cap table template, return to the main upload guide to continue to Populating your Pulley dashboard, upload the remaining documents, add admins and signatories, and submit for review!