Operators: the cap table is the book

Named holders, percent, and class on the operating company. Trading accounts live on the prop-desk page.

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Audience · issuing-company operators

Operators: the cap table is the book

Named holders, percent, and class on the operating company. Trading accounts live on the prop-desk page.

Operators keep a cap table because someone holds the company. The book is a named holder, a percentage, and a class. Vesting and the exit waterfall use the same ledger. Employees see grants on the live portal. A 409A is a workflow with counsel, not an in-house appraisal. A prop firm is still an operating company: trading accounts hang off that book via POST /api/v10/prop-firm/onboard. Opening the book is free.

Cap table · Data room · The book. Open the book — $0. Come as you are is $0. Marks are not NAV. Learn seeds stay 5.

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