You have to ask yourself, if titles weren't involved, what is your role at the company. Are you really steering the direction of the company? Do you have actual

You have to ask yourself, if titles weren't involved, what is your role at the company. Are you really steering the direction of the company? Do you have actual monetary investment into the company? -OR- are you really just a manager of an IT department? Small companies are notorious for over inflated job titles. I suspect you're not as much CTO as you are manager of the IT department. I don't see you getting any sort of equity unless you are bringing something important to the table, like cash or an existing product. The company is compensating you for your work and ideas. Only you can decide if their compensation is fair. If you don't feel that it is, which it's plain to see that you do not, then negotiate with them or leave for better pay.