If you are planning to offer stock options to employees, you will need to do a 409A valuation to comply with legal requirements. Learn more about 409A valuations here and here.

Pulley works with 409A valuation experts to build a defensible report for your startup. Learn more about our partners here.

Pulley 409A Process

You can get your 409A valuation on Pulley in these simple steps:

1. Get on our Growth Plan which includes access to 409A valuations

2. Request your 409A valuation on Pulley. Click 409A Valuations in your left-hand navigation bar and select "Request New 409A"

3. Upload the required documents to your 409A dashboard

4. Get introduced to your valuation expert and tell them about your company

5. Receive your 409A valuation report in a few business days

409A valuations determine the value of stock that you give to employees. The value of equity at publicly traded companies is easy to determine by looking at their stock price. There is no public market for equity of privately held companies, and a 409A valuation by a qualified, third-party is the only way to determine the value of the equity. Pulley works with Aranca, a qualified, independent valuation provider to provide your business with a fair and defensible 409A report.


  • Articles of Incorporation

  • Balance sheet and Profit & Loss for the past 2-3 years - Include the financial statements since inception for companies less than 2 years old.

  • Business plan or investor deck - Any information about your business model and market is sufficient

  • Estimated options to grant - Estimate options expected to grant in the next 12 months


  • Cap table

  • Securities and financing documents - Upload SAFE, convertible notes and Stock Purchase Agreements

  • Employee option plan

  • Employee stock options agreements

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