← Glossary GLOSSARY

Cap table

The list of who owns what equity in your company, on what terms, with what dilution.

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The longer version

A cap table tracks every share, option, warrant, SAFE, and convertible note ever issued, plus the resulting fully-diluted ownership percentages. Modern cap tables live in tools like Carta or Pulley; spreadsheet cap tables become unmaintainable past a single round.

Why it matters in your books

Cap-table data drives 409A valuations, ASC 718 stock-comp expense, QSBS qualification, and every diligence call you will ever have. Keep it clean from day one.