What is a capitalization table (or cap table) and where do I find my company's issued shares?

A capitalization table (or cap table) is a spreadsheet that details who has ownership in a company. It lists all the securities or shares in a company including stock, convertible notes, warrants, and equity grants. It indicates each investor’s percentage of ownership in the company, the value of their securities, and dilution over time.

Your company may use a service such as Carta to manage its cap table. Your company's finance or legal team should be able to direct you to your company's cap table.

Locating share information

Your company’s issued share details will be located on your company's capitalization table (cap table). It may also be located in your company's Articles of Incorporation. Depending on the state, that document may also be called a Certificate of Incorporation, Certificate of Formation, or Articles of Organization.

Please note that if your company uses Carta, their platform displays issued shares in a column titled "Outstanding Shares," as illustrated in the example below: