Equity is usually a separate purchase from the compensation platform. It is sold as cap table software and priced per stakeholder on the cap table — every person or entity holding shares or options — not per employee. Of the vendors checked in October 2026, Carta publishes a free Launch tier for up to 25 stakeholders and $1M raised, then charges a per-stakeholder price with a minimum annual fee that it does not name. Cake Equity publishes the full card: free up to 5 stakeholders, $1,000 a year for 25, $2,750 a year for 40, plus $1 to $5 per additional stakeholder depending on tier.
Expect extras on top of the plan. A 409A valuation is the common one — Cake Equity sells it at $1,500, and includes two a year only on its higher tiers. Carta’s total-comp benchmarking is not part of the free tier. If equity is a real part of your packages, budget the cap table tool and the comp platform as two lines, and check the vendor’s page before committing: this category reprices often, and Pulley’s own pricing page now says it is shutting down in December 2026.