Grading reformers increasingly emphasize grading equity practices (Feldman, 2019), but a limited understanding remains of how teachers develop their grading strategies with equity in mind. We begin to fill the gap with this qualitative, inductive study, drawing from data gathered from 506 Arkansas teachers. Thematic analyses of survey responses reveal that educators shape their grading practices around four primary themes: an equity-centered lens; insights from professional development, continuing education, or personal research; a reliance on tradition; and incorporating students' behaviors and efforts into final grades. While many Arkansas teachers desire to integrate equitable grading principles, they often face challenges in its execution, defaulting to traditional grading systems. This suggests the need for additional, comprehensive professional development centered on equitable grading techniques, supported by report cards conducive to such approaches.