An SHA is an arrangement among shareholders that describes how a company should be operated, outlining shareholders’ rights and obligations. The agreement also includes information on the management of the company, the privileges and protections put in place for shareholders.

A shareholders' agreement includes details such as dates, the number of shares issued, a capitalization table that outlines the existing shareholders and their ownership percentages, any restrictions on transferring shares, the preemptive rights for current shareholders, and so on.