Carta Release Notes - Product Updates

A Redesigned Portfolio Experience

We’ve heard you!

You are on the go and now we are too. Investors, board members, and employees can now access their holdings data on any device.

For investors, the portfolio company page features a new overview tab. Here you can glean the most important information about your portfolio company. Portfolio Insights customers will also enjoy added granularity to the in-app reporting. We’ve made our popular bulk export feature now available for all metrics.

Another win for all investors is the ability to upload documents to the company page. Keep track of all relevant company materials, such as board decks and legal documents, in one place.

We hope you enjoy the new experience, but we’d love to hear your feedback. Reach out to us at investorservices@carta.com.

Tender Offers: sell order UI refresh

We’ve made some UI improvements to the sell order submission workflow in the Tender Offer product:

• There is a new customizable intro page companies can use to communicate important information with sellers
• We’ve switched from a single-page sell order to a multi-step workflow. This includes a new navigation tracker on the left-hand side that shows sellers where they are in the process
• Sellers can save at each step so they don’t have to complete their order in one sitting
• We’ve also leveraged the Carta Platform team’s _ink components for a more streamlined look and feel

Modify plans attached to options and RSAs

You can now update the option plan that is attached to option grants and RSAs through the modify workflow.

When modifying RSAs, if you remove the plan that is attached, the shares will become a standard certificate and pull from the shares authorized instead of the option pool.

Please note - this does not track changes over time. If you need to set up multiple option plans so shares will pour over, please contact Carta customer support.

Changes to acceptance reminder emails

As the SEC transfer agent for our private companies, we want every user on Carta to accept their securities.

We have updated our notifications to help remind people and keep the data in Carta up to date and accurate. We currently have reminder emails for accepting securities go out at 2, 5, 10, 20 and 30 day intervals. We have now added more reminder emails to also be sent out at 2, 3, 6 and 12 month intervals as well.

Update investors with our financials template

For companies fulfilling investor information requests through Carta, we have now made it easier to provide financials via a template. The new layout clearly lists the requested items and provides template for financials, which includes actuals and forecasted numbers for Profit & Loss, Balance Sheet, and Cash flow statement.

Modify cancellation date and reason (certificates)

You can now edit the cancellation date and reason that is set on a certificate after it has been canceled. To update, select the cancelled certificate you want to modify. Click “Actions” in the top left corner and “Modify certificates.” You will see the two new fields under the “Certificates details” section:

Note: These fields can only be updated on a certificate that is already canceled. To cancel a certificate that is currently outstanding, follow the instructions here.

These two new fields will be coming to the other security ledgers soon!

Merge duplicate stakeholder tool

You may now merge duplicate stakeholders from the stakeholder ledger. Follow the steps outlined below:

1. Check the boxes for two stakeholders you would like to merge. Note: you can only merge two stakeholders at this time, and both stakeholders cannot have accepted securities separately. Select “Merge Stakeholders” from the actions dropdown.

2. Compare the stakeholder information and enter updated values in the cells on the right.

3. Review and correct the stakeholder’s relationships and their effective dates.

4. Review the changes you’ve made and check that they are correct.

5. Sign and click “Merge stakeholder” to merge the stakeholder.

Ability to modify option plan associated with option grants and RSUs

You are now able to update the option plan that an option grant or RSU is attached to through the modify workflow. You can do this by selecting an option grant or RSU on the left side, click the “Actions” button at the top left of the ledger and select “Modify.”

Please note, you are only able to modify one security at a time.

We will release the ability to modify the option plan attached to RSAs, SARs, CBUs and PIs shortly.

New way of managing board members

Now Board admins can manage access to board room under “Company > Roles and Permissions > Board”. We streamlined adding members, made status of invitation visible, and moved company access to “People.”

Admins can also now resend invitations to board members who didn’t accept invitations to join Carta.

New custom equity plan report

Now Legal and Company administrators can export a new customizable equity plan. There are 40+ columns to choose from, and you also have the ability to select multiple plans to export. The output file is a spreadsheet with each plan being its own tab.

2FA Status update

We strongly recommend that you enable 2-factor authentication to keep your account secure.

If you do not have access to your device or cannot receive the code, you can raise a request to disable it through the Carta platform.

If we do not have enough information to approve your request, you will now be able to schedule an identity verification call directly from the status update email - no need to contact support first.

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New Permissions and Roles page

To improve the user experience in our platform, we merged the Access and Roles pages together.

Now company access, roles, signatories and board admins can be managed in one place -- Permissions and roles page, under the Company dropdown.

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Roles page
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Switch emails in your account

You can now easily switch between your contact and additional emails on the web.

Under the settings page, you are able to add additional emails. Once you have multiple emails verified, you can select the email you would like to use as the main contact email.

This will be available in the mobile app soon!

Securities ledgers statuses update

We’ve made changes to the securities ledgers to clarify statuses and make it easier to understand recent activity on the cap table.

Statuses show the most recent legal changes that have occurred to a security. Securities active on the cap table are labeled “Outstanding.”

All securities have dots that represent activity.

• Green dots indicate an active security.
• Red dots indicate a security that is no longer active.
• Yellow dots indicate that the security holder has been terminated and the security will soon no longer be active.

Securities awaiting signature are indicated with labels.

• Orange indicates a security awaiting officer signature.
• Green indicates a security awaiting holder signature.

Paper securities are indicated with a gray background.

Bulk Modify Workflow update

We are in the process of updating the bulk modify workflow across all ledgers. This update will provide a cleaner experience and allow to more easily add fields in the future.

We moved the modification reason to the first step and now ask for the type of modification - clerical error or amendment. This is for data tracking only; the option you select will not affect anything.

In the second step, we have also separated the fields into sections and added the ability to set certain fields as null.

In the final step, we cleaned up the review screen to make it clearer what fields are being changed and the notifications that will be sent out.

Currently, this workflow shows for options and certificates. It will be updated for convertibles, warrants, RSAs, RSUs, SARs and PIs shortly.

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Select board members who need to approve a resolution

Now you can select board members who need to approve a resolution. This helps if you have committees or a board member’s contract will soon expire.

You can also decide if you want to send notifications or not, so you can create multiple resolutions and approvals without sending multiple emails.

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Hiding docs users don't have access to

We updated boardroom user experience and now hide all documents that users don’t have access to. This improvement is important for the closed session part of the board meeting which is usually only attended by board directors.

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