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

Upload all the documents to your 409A valuation page. Read this article to learn more about 409A valuations.

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