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Independent, audit-ready 409A reports in 4 to 5 business days, requested directly from your dashboard.
When you need one
Your last valuation is more than 12 months old.
You're issuing stock options.
You've raised a new funding round that changes your company's value.
There's been a leadership change that impacts your finances.
Your business has undergone major strategic or operational changes.
Industry or economic shifts have materially affected your fair market value.
Why EquityList
A mispriced stock option can trigger a 20% federal tax penalty for employees and create compliance risk for your company. EquityList's valuations are built to hold up to regulators and boards.
We deliver the first draft of your report in 4 to 5 working days, so a new option grant is never held up waiting on a price.
Cross-border hires and subsidiaries often fall outside standard valuation coverage. EquityList covers the USA, India, and UK to meet local regulations.
Your data is encrypted at rest and in transit, access is controlled and logged down to the individual record, and our practices are independently certified against SOC 2 and ISO 27001 standards.
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View detailsCustomer stories
Don't just take our word for it. Explore what our customers & community say!
We came across EquityList in 2020, which has since helped us manage our cap table and employee grants in one place. Employees, too, can visualize and easily comprehend the value of their growing stock through their dashboard.
Revant Bhate
Co-Founder & CEO, Mosaic
EquityList helped us transition from managing ESOPs on scattered Google sheets to managing them professionally. EquityList makes sharing details with investors and auditors hassle-free, making the process error-free!
Deepanshu Arora
Co-founder and CEO, Toddle
We came across EquityList in 2020, which has since helped us manage our cap table and employee grants in one place. Employees, too, can visualize and easily comprehend the value of their growing stock through their dashboard.
Revant Bhate
Co-Founder & CEO, Mosaic
EquityList helped us transition from managing ESOPs on scattered Google sheets to managing them professionally. EquityList makes sharing details with investors and auditors hassle-free, making the process error-free!
Deepanshu Arora
Co-founder and CEO, Toddle
After raising series B, managing our ESOPs and cap table on Excel became tough and inefficient, and we wanted to digitize it. We could get this setup done quickly and get used to it with its easy-to-use interface.
Saurabh Gupta
CEO and CoFounder, Company 10
From promptly addressing our queries to providing regular updates on plan performance, EquityList's communication style fosters a sense of transparency and trust.
Akshay Jain
Senior Manager, Yulu
After raising series B, managing our ESOPs and cap table on Excel became tough and inefficient, and we wanted to digitize it. We could get this setup done quickly and get used to it with its easy-to-use interface.
Saurabh Gupta
CEO and CoFounder, Company 10
From promptly addressing our queries to providing regular updates on plan performance, EquityList's communication style fosters a sense of transparency and trust.
Akshay Jain
Senior Manager, Yulu
Since 2020, the EquityList team and their software have helped us streamline and automate some of our most crucial financial aspects like the ESOP management, grants, and reports.
Mikami Chandrasekaran
Associate Director, People Operations, Company 12
EquityList's sophisticated tools have enabled us to optimise our pool usage, ensuring that remaining stock options are strategically allocated for subsequent grants.
Nilangi Netravalkar
Admin, Operations & Payroll Specialist, Limechat
Since 2020, the EquityList team and their software have helped us streamline and automate some of our most crucial financial aspects like the ESOP management, grants, and reports.
Mikami Chandrasekaran
Associate Director, People Operations, Company 12
EquityList's sophisticated tools have enabled us to optimise our pool usage, ensuring that remaining stock options are strategically allocated for subsequent grants.
Nilangi Netravalkar
Admin, Operations & Payroll Specialist, Limechat
The UX is simple and intuitive for employees and administrators and can be used with little or no training. The platform makes the administrator's job of managing the ESOP pool and reporting pretty easy.
Bikramjit Singh
Head of Business HR
“Transitioning to EquityList was a breeze. The platform's straightforward design ensured a hassle-free migration process, with excellent support at every step.”
Chithra Ramachandran
Director - People, smallcase
“EquityList is a great platform to manage the ESOP flow internally, from issuing grants to managing cap tables. Onboarding is relatively easy, and the team is very helpful.”
Yaswanth Goteti
Head of People, Fincent
Equitylist saved us not only time but also minimized the risk of errors that often accompany manual processes. What truly sets it apart is the exceptional support- from onboarding to ongoing- by the team, their dedication to ensuring our success was evident.
Rupal Rajal
Head HR, Rupifi
EquityList has significantly increased the credibility of ESOPs among our team members, making the ESOPs more tangible by showcasing the potential monetary growth achievable over the long term.
Shiffana MK
People & Culture, Nova
We believe in generating wealth for our employees and, therefore, use EquityList to issue multiple grant letters and provide real-time visibility on the valuation updates, which helps boost their confidence and gives them a bird's-eye view of their impact on the organization's growth.
Kaushal Pawar
Director People & Culture, Company 6
The UX is simple and intuitive for employees and administrators and can be used with little or no training. The platform makes the administrator's job of managing the ESOP pool and reporting pretty easy.
Bikramjit Singh
Head of Business HR
“Transitioning to EquityList was a breeze. The platform's straightforward design ensured a hassle-free migration process, with excellent support at every step.”
Chithra Ramachandran
Director - People, smallcase
“EquityList is a great platform to manage the ESOP flow internally, from issuing grants to managing cap tables. Onboarding is relatively easy, and the team is very helpful.”
Yaswanth Goteti
Head of People, Fincent
Equitylist saved us not only time but also minimized the risk of errors that often accompany manual processes. What truly sets it apart is the exceptional support- from onboarding to ongoing- by the team, their dedication to ensuring our success was evident.
Rupal Rajal
Head HR, Rupifi
EquityList has significantly increased the credibility of ESOPs among our team members, making the ESOPs more tangible by showcasing the potential monetary growth achievable over the long term.
Shiffana MK
People & Culture, Nova
We believe in generating wealth for our employees and, therefore, use EquityList to issue multiple grant letters and provide real-time visibility on the valuation updates, which helps boost their confidence and gives them a bird's-eye view of their impact on the organization's growth.
Kaushal Pawar
Director People & Culture, Company 6
Request an independent, audit-ready report directly from your EquityList dashboard.
A 409A valuation is valid for up to 12 months from the effective date, unless there's a material event that affects your company's value, such as a new funding round, major acquisition, or significant change in business outlook. In those cases, an updated valuation is required sooner.
Yes. Our valuation partners, Aranca and CCV India, provide direct access to their certified experts. You can discuss your report, ask questions, and request clarifications during the review process.
Yes. Every 409A report delivered through EquityList is signed by the certified valuation specialist responsible for the analysis, ensuring it's defensible for board and regulatory review.
Some equity platforms (e.g., Carta) offer system-generated 409A reports. However, an independent analysis notes that Carta's reports typically do not list a named analyst or include a signature from a responsible valuation expert, which reduces the level of accountability and audit protection available if questions arise.*
You can request additional valuations as and when required. However, we don't offer unlimited valuations since each 409A report on EquityList is independently prepared by certified valuation experts, not by software. This ensures your reports meet the highest standards of accuracy and credibility, and stand up to regulator and investor review. If your company requires multiple or periodic valuations, the EquityList team can also offer volume-based pricing to make recurring reports more cost-efficient.
Not necessarily. The rules under Internal Revenue Code Section 409A (IRC 409A) apply to deferred-compensation plans of U.S. tax persons. If your company and all option-holders are located outside the U.S., and you aren't granting equity or deferred compensation to U.S. tax-residents, then you generally don't need a 409A valuation. In such cases, local valuation rules (for example in India under the Companies Act, 2013 or Rule 11UA) will apply instead.
However, if you have U.S. employees, advisors or contractors receiving stock options or other deferred equity compensation, or a U.S. entity grants the compensation, then you'll need a 409A-compliant valuation.
Your historical and projected financials, along with details of any recent or planned funding rounds. If you're already on EquityList, most of this is pulled from your cap table automatically.
