Pulley shuts down on December 8, 2026, and its data is viewable only until January 31, 2027. Pulley has said it cannot help migrations to any provider other than Carta.
So the migration runs on files you download yourself. This checklist works for any destination, with notes on how Capable handles each step.
The migration is five steps, and step one is the only urgent one
- Export your data from Pulley.
- Collect the documents behind each security.
- Import into the new provider.
- Reconcile against Pulley's totals.
- Invite stakeholders and switch off Pulley.
Step 1: Export two files from Pulley
These two files contain the whole cap table.
| File | Where in Pulley | Why it matters |
|---|---|---|
| Cap table workbook (.xlsx) | Dashboard, then Download Cap Table | Ownership by holder, one sheet per security type, the equity plan with its pool, and vesting |
| Stakeholders report (.xlsx) | Reports, then Stakeholders | Everyone's email, so holders can be invited to their portal |
Pulley's help center documents the cap table download. We tested this pair against a live Pulley account: every share, option and SAFE came across, and fully diluted shares matched Pulley to the share.
Export the workbook as of today, not a past date
An as-of export drops activity after that date. You want the complete record, and you can always view a past date in the new tool.
Step 2: Collect the documents behind each security
Software records the cap table. The legal truth sits in signed documents, so bring them with you.
- Stock purchase agreements and certificates.
- Option and RSU grant agreements, with the equity plan and its amendments.
- SAFEs, convertible notes and warrants.
- Board and stockholder consents.
- 409A reports.
- Copies of filed 83(b) elections.
Pulley downloads them in one go: Company, then Data Room, then Download All gives one zip of grant agreements, SAFEs and side letters, board consents and 409A reports, in folders per holder. Share certificates are kept apart: Certificates, then Download All Certificates. Pulley has no API and no Open Cap Table Format export, so these downloads and the cap table workbook are the only way your records leave Pulley. Do it before Pulley closes on December 8, 2026; it has not said which downloads still work after that.
In Capable, upload the zip under Documents, then Import data room. Each agreement is attached to the security it covers, read from the agreement itself, so an employee with several grants gets each agreement on the right grant. Board consents become approval records and 409A reports attach to their valuation. Anything that does not say which security it covers is listed at the top of Documents with an Attach button.
Step 3: Import into the new provider
On Capable, start a free trial, create your company and open Import. Drop both files at once; Capable recognizes the Pulley export on its own.
Capable identifies each sheet, maps every column to the right field and rebuilds vesting schedules from their descriptions. Rows it cannot map cleanly are listed as errors or warnings for you to fix before anything is written.
Nothing is written until you confirm the reconciliation, and the done-for-you migration is free if you would rather send us the files.
Step 4: Reconcile before you commit anything
Reconciliation is the step that makes the migration trustworthy. Do not skip it, whatever tool you use.
Check these numbers against Pulley's Ownership tab:
- Fully diluted shares in total. This must match exactly.
- Fully diluted shares per stakeholder. Any difference points to a missing or duplicated security.
- Outstanding shares by class. This catches a security assigned to the wrong class.
- Option pool: granted, exercised, cancelled and available. This catches cancellations that did not return to the pool.
- Vested amounts as of today for a sample of option holders.
- SAFE and note principal in total.
Capable automates the first two for you: it shows its fully diluted shares for each stakeholder next to Pulley's figure and flags every mismatch. Check the rest in the review screen before you commit.
Step 5: Invite stakeholders and close Pulley out
Once the numbers agree, attach the documents to their securities. Record your current 409A, with its effective date and report.
Then invite stakeholders to the portal. They see their own holdings, vesting and documents, never anyone else's.
Finally, keep your Pulley exports in company storage. They are your record of the cap table on the day you moved.
These four problems cause most failed reconciliations
Duplicate stakeholders
The same person may appear under two emails. Merge them before committing so ownership does not split.
Cancelled grants missing their dates
If a cancellation has no date, historical views and pool math go wrong. The All Time export fixes this.
ISO and NSO splits
Options above the $100,000 ISO limit are treated as NSOs. Check that split grants carry the right amounts on each side. Our ISO vs NSO guide explains the rule.
Converted SAFEs still shown as outstanding
A SAFE that converted in a priced round should be closed and replaced by preferred shares. Confirm there is no double count.
We do the whole migration for free if you prefer
Send your Pulley files through the form on the migration page. We import, reconcile and send you the result to review within 24 hours, at no charge.
Before you decide on a destination, read what to do now that Pulley is shutting down and how Capable compares with Carta.