5 years ago2/26/2021

[**Pre-filling Subscription Documents for Existing LPs**](https://releasenotes.carta.com/pre-filling-subscription-documents-for-existing-lps-2vDOw)

If you are an LP, you’ve felt the pain of filling out subscription documents. You go through the same long investor questionnaire with the same questions for every fund investment you make. With Carta subscription documents, now you don’t have to.

## What’s New

Limited Partners who have already completed a subscription document on Carta can now re-use their information for future investments. They can add their subscription information in just a few clicks.

Prefilled LP Subdocs

Click for sound

### How it works

1\. Limited Partners select the portfolio for the entity they are investing through

2\. The form is pre-filled with information from their previous subscription. Any questions that are specific to this investment are highlighted for the Limited Partner to answer.

3\. Limited partners review and confirm their information is correct.

Check out our [Q1 product webinar recap blog post](/content/blog/how-we-improved-carta-for-investors-in-q1-2021/index.html) to see how simple the closings process will be.

**Timing:** Rolled out to Limited Partners on February 24, 2021

**Audience:** Limited Partners, General Partners

Ashley Chang

5 years ago2/26/2021

[**Biometrics Login on Mobile**](https://releasenotes.carta.com/biometrics-login-on-mobile-0eQM0)

To provide safe and easy access to our mobile users, we are introducing biometrics login on the Carta iOS and Android apps.

This update will make it easy for users to log in to the Carta app through the use of Touch ID or Face ID on supported iOS devices, and Facial or Fingerprint recognition on supported Android devices.

Note: Only biometrics login for a single account is supported at this time.

Sudeep Kumar

5 years ago2/26/2021

[**Stakeholders can now more easily review their shares and tax withholdings from RSU settlements**](https://releasenotes.carta.com/stakeholders-can-now-more-easily-review-their-shares-and-tax-withholdings-from-rsu-settlements-4kbUvS)

Stakeholders can now view details about their public RSU settlements in the RSU settlement history view.

**Who this affects:**

Public company stakeholders with RSU awards

**What’s new:**

From the portfolio view, stakeholders can navigate to each individual RSU grant and view a comprehensive settlement history:

The settlement history shows the settlement type, shares sold or withheld for taxes, and the net shares that the stakeholder receives.

Stakeholders can download a Settlement details report capturing the breakdown of their taxes related to the RSU settlement, asl well as shares sold or withheld for taxes:

Bryan Wells

5 years ago2/25/2021

[**Public company administrators can now track cash paid for taxes upon RSU settlement**](https://releasenotes.carta.com/public-company-administrators-can-now-track-cash-paid-for-taxes-upon-rsu-settlement-1DhM1W)

Carta now features a Pay Cash settlement type for public company RSUs settlements. Administrators can set up a settlement event for participants paying cash to cover their tax obligations for an RSU release.

**Who this affects:**

Public company administrators

**What's new:**

When entering in a public RSU settlement through Transactions: RSU settlements, administrators can now select Pay cash as a settlement type.

The Pay Cash settlement type calculates taxes, but does not reduce the gross shares vesting by the shares sold or withheld to cover taxes. Carta captures the ordinary income and taxes to be withheld in its reports as well as in the settlement flow.

Stakeholders will see their total gross quantity of shares in their portfolio post settlement, along with an indication that they paid cash to cover taxes.

Bryan Wells

5 years ago2/18/2021

[**Fund Administration Experience on Mobile**](https://releasenotes.carta.com/fund-administration-experience-on-mobile-3qxHS8)

Carta Fund Administration clients can now access both company investments and fund overview information on the Carta iOS and Android apps. This will help investors get information on the go.

**Who this affects**

Fund administration clients

**What’s new**

Fund administration clients can now view both company investments and an overview of their fund entities on Carta.

- General partners can view and search through the company investments
- The new fund overview page provides a summary into the fund investments and also the top five investments, which can be filtered based on Gross IRR, Cost, Value, Gain/Loss, and Multiple.

Sudeep Kumar

5 years ago2/17/2021

[**Tax Documents on Mobile**](https://releasenotes.carta.com/tax-documents-on-mobile-QrWvK)

At Carta, we want to make complex things simple and easy to understand. To that end, we’re excited to release Tax Documents on Mobile.

This update will allow Carta users to access Tax Forms 3921 and 1099-B from the dedicated Tax Documents section within their Account.

To access Tax Documents, users can navigate to their account and select Tax Documents under portfolio information. If a user has multiple portfolios, they can choose a desired portfolio to view the documents.

Users will now be able to view, download and share tax documents from the mobile app.

Sudeep Kumar

5 years ago2/12/2021

[**Administrators can now record public company net exercise transactions**](https://releasenotes.carta.com/administrators-can-now-record-public-company-net-exercise-transactions-dQdLW)

Net exercises can now be entered as off platform transactions for public companies. This functionality leverages Carta’s tax calculations to determine the shares to withhold for option cost and taxes, as well as the net shares that the stakeholder receives from the transaction.

## Who this affects:

Public company administrators

Navigate to Securities > Equity awards. To the right of the option grant’s row, click the V drop down and Select Off System Transaction. Select Net Exercise as the Exercise Type:

Enter the transaction date and shares to be net exercised:

Carta will then use the stakeholder’s address(es), relationship history, and year to date compensation information to calculate taxes and the number of shares to withhold to cover the total cost of the exercise

Administrators can review and adjust taxes related to the exercise after Carta initially calculates them. Changes to tax amounts will update the quantity of shares withheld to cover option cost and taxes.

After reviewing and saving,  the transaction will appear on reports as a net exercise. Both the exercise details and exercised and settled reports will reflect the shares withheld for taxes and net shares that the stakeholder receives.

## Resources:

[\[Support Article\] Record Net Exercise Transactions- Public Company Admins](https://support.carta.com/s/article/record-net-exercise-transactions-puma-admin)

Bryan Wells

5 years ago2/4/2021

[**Health Check Dashboard \[Early Access\]**](https://releasenotes.carta.com/health-check-dashboard-early-access-89H4A)

_The Health Checks Dashboard allows you to identify, understand, and take action to fix data inconsistencies in your Carta account. It is currently rolling out to select customers under “Early Access”._

# **This article focuses on the following topics**

- Who can access the dashboard
- Where to access the dashboard
- How to navigate the dashboard
- How to fix a health check error
- FAQs

# **Who can access the dashboard**

You must be a Company’s Legal Administrator, Company Editor, or Company Viewer to see the dashboard. Note that Company Viewers do not have the ability to edit company data, and will only have view-access to the dashboard. [Learn more about permissions](https://support.carta.com/s/article/corporate-permissions).

# **Where to access the dashboard**

|     |     |
| --- | --- |
| via the Company Summary Page |  |
| via the Company menu dropdown link |  |

# **How to navigate the dashboard**

**Tags**

Tags help you navigate to Health Checks related to a certain topic. If you select more than one tag, checks that apply to any of the tags will be displayed below.

**Tabs**

****

Required: Shows Health Checks that require attention as soon as possible and may post a transaction risk if not addressed. These reflect instances where bad data can propagate to other nodes in the Carta network is not address promptly

Recommended: Shows Health Checks that can improve the Carta experience and ensure different Carta experiences reflect consistent values.

Dismissed: Shows Health Checks that have been dismissed by users. Certain Health Checks will flag issues that may be expected discrepancies, from a company perspective. These will be dismissable

**Health Check Cards**

Each card will contain information on why a fix is important and instructions on where to fix the issue. Tooltips to the right of the title, contain guides to support articles and more details on how an issue can be addressed.

# **Fixing a Health Check Error**

There are two types of Health Checks- ones that can be fixed by a company user and ones that require a Carta team member to make the underlying changes.

If a Health Check error has a modify action, you will be able to address the issues on your own.

For other health checks, we may recommend that you reach out to Carta Support to process the data change on your behalf.

# **FAQs**

1. Will Carta continue to work, if I don’t address Health Check errors?

1. Yes, Carta will continue to work, but you may see discrepancies in Carta tools and reports. We suggest that you address required issues as soon as you can to ensure Carta works smoothly.
2. Can Carta fix the data issues for me automatically?

1. We take your data integrity very seriously. As such, we want to ensure all changes to data are reviewed and verified by an account owner. In some circumstances, we’ve improved the product to capture more data and need your help populating the new data fields.
3. Why is it important for me to address Health Check errors?

1. All Carta tools depend on clean and accurate data to work correctly. For example, an expense report requires vesting schedules and stakeholder relationships to be filled out correctly.

Alex Chen

5 years ago2/1/2021

[**New stakeholder address management features for Carta admins**](https://releasenotes.carta.com/new-stakeholder-address-management-features-for-carta-admins-1viwWQ)

_Company administrators can now use the stakeholder address history feature to track multiple, effectively-dated addresses per stakeholder as they move from location to location. Additionally, we've also improved the experience around managing and viewing addresses in Carta for stakeholders based outside of the United States._

# Who this affects:

Company administrators responsible for managing stakeholder information in Carta

# What’s new:

- **Multiple, effectively-dated addresses per stakeholder.** Companies can now reflect a timeline or history of addresses for a stakeholder as they move from location to location
- **Extra structure for non-US addresses.** For stakeholders based outside of the US, companies can now track and view stakeholder address information at the country, country region (i.e. state/province/county/etc.), and city level
- **Integration with Carta's tax system.** When an option exercise occurs, Carta will estimate tax withholding amounts using multiple tax jurisdictions if the stakeholder lived in more than one location during the vesting period

_Track stakeholder address history as they move from location to location:_

_Old form for adding a non-US stakeholder address:_

__

_New form for adding a non-US stakeholder address:_

__

# Timing:

All companies will have access to these new features by **Wednesday, February 3rd**

# Resources:

- [\[Support article\] Manage stakeholder addresses in Carta](https://support.carta.com/s/article/managing-stakeholder-addresses)
- [\[Support article\] Manage employee tax withholding in Carta](https://support.carta.com/s/article/manage-tax-withholding)
- [\[Support article\] Country and country regions in Carta](https://support.carta.com/s/article/countries-and-country-regions)

Vince Lo

5 years ago2/1/2021

[**Tax mobility feature available to Carta admins**](https://releasenotes.carta.com/tax-mobility-feature-available-to-carta-admins-1aRXGg)

_For company administrators using the new "Tax rules" page in Carta, they can now choose to enable the tax mobility feature for their company. If tax mobility is turned on, Carta will use a stakeholder's address history when estimating taxes for withholding purposes._

# Who this affects:

Company administrators with access to the "Tax rules" page in Carta

# What’s new:

- **Enable tax mobility for more accurate tax withholding estimates.** Companies can turn the tax mobility feature on under Compliance > Tax rules. If tax mobility is enabled, Carta will look at a stakeholder's full address history when estimating applicable taxes for a withholding event (e.g. NSO option exercise, RSU settlement).

If you don't already have access to the "Tax rules" page in Carta, reach out to your account manager to request access.

_Navigate to Compliance > Tax rules to find the tax mobility feature:_

# Timing:

All companies with access to the "Tax rules" page will have access to the tax mobility feature by **Wednesday, February 3rd**

# Resources:

- [\[Support article\] Manage employee tax withholding in Carta](https://support.carta.com/s/article/manage-tax-withholding)
- [\[Support article\] Manage stakeholder addresses in Carta](https://support.carta.com/s/article/managing-stakeholder-addresses)

Vince Lo

5 years ago1/21/2021

[**Carta HRIS Integrations now available to Carta admins**](https://releasenotes.carta.com/carta-hris-integrations-now-available-to-carta-admins-mTJDO)

_Carta integrations to HRIS (Human Resources Information System) Providers are now available to all users with HR Administrator or above Carta access. The HRIS Integrations we have today are one-way data synchs from either BambooHR, Namely, or Workday into Carta._

# Who this affects:

HR Admins, Company Editors, and Legal Admins for all companies

# What’s New:

Carta HRIS integrations are now available to users with HR Administrator, Company Editor, and Legal Administrator access. Carta HRIS integrations can:

- **Flag Terminated Employees.** Employee terminations made in the HRIS appear as pending termination events in Carta
- **Flag Existing Stakeholder Updates.** Employee profile updates made in the HRIS will appear as pending stakeholder profile updates in Carta

Carta HRIS integrations functionality can be enabled via the _Company > Settings > Integrations_ page. The data pulled by the HRIS integrations is then shown in the _Stakeholders > Stakeholder Updates_ page where, you can find:

1\. Pending HRIS employee profile updates for stakeholder profiles that already exist in Carta

2\. Pending terminations for employees who were terminated in the HRIS but not in Carta

Learn more about setting up each HRIS integration here:

- [BambooHR](https://support.carta.com/s/article/integration-bamboohr)
- [Namely](https://support.carta.com/s/article/integration-namely)
- [Workday](https://support.carta.com/s/article/integration-workday)

Lastly, for Enterprise companies, Carta also supports [flat file integrations](https://support.carta.com/s/article/flat-file-hris-integrations) with HRIS Providers that support automatic report uploads via SFTP. Contact your Carta Account Manager if you want access to the flat file integrations feature.

Steven Camina

5 years ago1/19/2021

[**International exercising - submit and settle your exercise with Carta**](https://releasenotes.carta.com/international-exercising-submit-and-settle-your-exercise-with-carta-yfGQo)

_Non-US optionholders at US private companies will now be able to initiate and pay for option exercises through Carta._

# Who this affects:

- 🌐 Non-US optionholders at US private companies that have enabled this feature

# Supported platforms:

- 💻   [Web](https://app.carta.com/accounts/login/)
- 📱   [Android](https://play.google.com/store/apps/details?id=com.esharesinc.android&hl=en_CA&gl=US) and [iOS](https://apps.apple.com/us/app/carta-manage-your-equity/id1137735263)

# What's new:

- **_Submit exercises on Carta_** \- When enabled by your company, option exercises can be initiated within Carta.
- _**Submit payment to Carta**_ \- After admin approval, pay for your exercise with a wire transfer to Carta. Once Carta receives the full cost of the exercise, funds are transferred to the issuing company.

- _**Exercise and payment status**_ \- Track exercise and payment status within Carta. Be notified of any issues with your payment.

- **_Immediate certificate generation_** \- After receiving the funds for your exercise, a stock certificate is immediately generated for company officers to sign.

# Timing:

- This feature is being made available to US private companies gradually throughout 2021.

# Resources:

- [\[Support article\] Exercise options via wire](https://support.carta.com/s/article/exercise-options-via-wire)

Gwynne Burgess

5 years ago1/19/2021

[**Option exercise settings for exercises initiated and settled on Carta**](https://releasenotes.carta.com/option-exercise-settings-for-exercises-initiated-and-settled-on-carta-4DrBOU)

# _**Managing option exercising is now easier than ever.**_

_All exercises are now settled through Carta—US optionholders pay via ACH, Non-US optionholders pay via a wire transfer. Carta conveniently manages payment reconciliation and payment issues such as insufficient funds or overpayments. US private companies can centrally adjust exercising via the Transaction Settings page._

# Who this affects:

- 🇺🇸  US private companies

# What's new:

- **💸 _All exercises are settled with Carta_** \- No matter where your optionholders are located, Carta will receive all funding for on-platform exercises. US holders pay for their exercise via ACH and non-US holders pay for their exercise via a wire transfer to Carta. Company admins will no longer need to mark exercises as paid.
- **✉️ _Communication with optionholders_** \- Carta communicates directly with optionholders to resolve payment issues, letting them know of an outstanding balance for an exercise or facilitating a refund for overpayment.
- **❌** _**A**_ **_uto-cancel unpaid exercises_** \- If a wire exercise is unfunded or underfunded for 30 days after admin approval, the exercise will automatically be canceled.
- **⚙️ _Clear transaction settings_**\- Control option grant exercisability easily in one central location

# Timing:

- To be rolled out to all customers by the end of 2021

# Action required:

- Visit _Company > Settings > Transaction Settings_ to opt in
- Once your company has access to this feature, you must opt in within 30 days otherwise online exercising will be disabled
- If you do not yet have access, reach out to your Customer Support Manager to get immediate access

# Resources:

- [\[Support Article\] Enabling online transactions](https://support.carta.com/s/article/enabling-online-transactions-us)
- [\[Support Article\] Exercise options via wire](https://support.carta.com/s/article/exercise-options-via-wire)
- [\[Release notes\] Exercising as non-US optionholder](https://releasenotes.carta.com/international-exercising-submit-and-settle-your-exercise-with-carta-yfGQo)

Gwynne Burgess

5 years ago1/14/2021

[**Limited Partner Onboarding flow**](https://releasenotes.carta.com/limited-partner-onboarding-flow-3SUuGs)

_Limited partners now confirm that their information is accurate when viewing new investments on Carta. This will help ensure accurate information for tax season_.

## Who this affects

Limited partners with fund investments on Carta and funds using Carta's fund admin and LP portal products

## What's new

Limited partners can now review and update their information in the onboarding flow for their fund investment.

- Limited partners can confirm or update their address information
- If a new address is added, they can use that for all of their fund investments

## Timing

This was released for Limited Partners on January 14, 2021

Ashley Chang

5 years ago1/6/2021

[**Limited Partner Settings**](https://releasenotes.carta.com/limited-partner-settings-3QDHDW)

_The new Limited Partner Settings page allows Limited Partners to control their information across fund investments on Carta._

## Who this affects

Limited partners with investments into funds on Carta.

## What's new

Limited Partners can now manage and share their information across fund investments. Previously, Limited Partners had to contact their fund admin or the Carta support team to update their information. Now they can update their address and other information used for taxes and distributions in Settings.

- Limited Partners can choose to use an address for individual fund investments or apply to all investments
- When updating an address, a Limited Partner can choose to make that their “default” address to be used for any new investments added to Carta.
- Partners investing through multiple entities can swap between entities and assign the correct information to each fund investment.

### Timing

This went live to all Limited Partners on January 6, 2021

Ashley Chang

5 years ago12/30/2020

[**Exercise flow improvements**](https://releasenotes.carta.com/exercise-flow-improvements-4fzVEk)

_Optionholders at private companies will now see an improved exercising experience where they can clearly see fair market value (FMV), exercise spread, and option income._

# Who this affects:

- Optionholders exercising option grants from private companies

# What's new:

- **Current fair market value (FMV)** \- Optionholders can see the current fair market value the issuing company has on file, which determines the tax implications of their exercise.

- **Exercise spread on option grant** \- Optionholders can see the per-grant spread when selecting a grant to exercise. This shows the difference between exercise price and fair market value.

- **Overall gain/loss** \- When selecting the quantity of shares to exercise, optionholders can see the overall gain/loss for their exercise. This is useful for understanding tax implications of an exercise.

- **Tax implications** \- Optionholders will be able to see tax implications more clearly. If the exercise is taxable and the issuing company has provided tax rates for the jurisdiction of the holder, the holder will see a table of the relevant taxes for their exercise.

Gwynne Burgess

5 years ago12/30/2020

[**Carta now supports performance conditions for grants with custom vesting schedules**](https://releasenotes.carta.com/carta-now-supports-performance-conditions-for-grants-with-custom-vesting-schedules-3YxZQs)

Performance conditions can now be set at the tranche level for vesting schedules that have been customized for an individual grant. Administrators can create custom schedules for individual participants and attach vesting tranches to performance conditions.

With this enhancement, performance awards can now be attached to grants without vesting templates. This compliments our existing performance award functionality that allows for performance awards to be attached to vesting template tranches.

To create a custom performance vesting schedule, first select Custom vesting in the vesting schedule column when drafting an award:

This selection will bring up a vesting schedule creator. If the vesting schedule is unique to this particular grant, click Custom one time schedule.

Note: if the vesting schedule for the grant is not unique, we recommend clicking Create schedule as template. Creating a template will allow multiple grants to use the same vesting pattern.

After clicking Custom one-time schedule, enter the vest dates and quantities. If a performance condition applies to one or more of the tranches, select it in the Performance Condition column.

Following the creation of the custom performance vesting schedule and the drafting of the grant, the grant’s vesting schedule and payout will be governed by the performance condition. From this step, the performance condition’s achievement and payout function in the same way as grants with standard and custom performance vesting templates:

Bryan Wells

5 years ago12/15/2020

[**Carta now supports multiple performance conditions on a single grant**](https://releasenotes.carta.com/carta-now-supports-multiple-performance-conditions-on-a-single-grant-1guDHa)

Performance conditions for performance awards can now be individually set per vesting tranche. Administrators can control the payout of performance conditions, including payouts greater than or less than 100% per vesting tranche.

**Creating performance conditions using custom vesting templates**

When creating a custom vesting template, performance conditions can be set at the vesting tranche level. These performance conditions are controlled through the performance module and administrators can set payout percentages upon condition achievement.

Performance conditions will apply to every grant attached to the performance vesting template.

Performance awards can also be added on to milestone vesting templates. These act as a second performance condition in addition to the achievement of the milestone event. Milestone vesting templates can be used with or without performance conditions:

Achievement of a performance condition will flow back to all grants tied to vesting tranches set up with that condition:

Bryan Wells

5 years ago12/11/2020

[**Email customization for document sharing**](https://releasenotes.carta.com/email-customization-for-document-sharing-2nKunS)

This month we released a new feature on Carta to allow users of a fund to customize the email sent to LPs when sharing documents. This feature is available for all Fund Administration and LP Portal customers. To use the feature:

1\. Select ‘Share documents’ on the Documents page.

2\. After select Share documents you will have three options for sharing documents: Send with daily digest, Send immediately, No notification.

3\. When ‘Send immediately’ is selected you will have the option to

**Open email editor**.

4\. The email editor will allow you to:

- Customize the subject line
- Customize the header
- Customize the email body
- Include dynamic fields in your text
- Send a preview email to yourself before sending

5\. After completing the email customization, you will be able to share the documents to your LPs.

Jordan Agnew

5 years ago12/10/2020

[**Performance Awards in Custom Reporting**](https://releasenotes.carta.com/performance-awards-in-custom-reporting-11JdSM)

You will now be able to see data related to performance awards in our custom reporting suite.

These fields include:

|     |
| --- |
| Performance Condition - The name of the performance condition |
| Condition type - Whether the condition is event based, market-based, or non-market based |
| Vesting condition details - Any notes regarding this performance condition |
| Minimum payout - Lowest payout percentage, relative to the original grant amount |
| Maximum payout - Highest payout percentage, relative to the original grant amount |
| Vests post-termination - Whether the performance condition could be recognized during a PTEP period to allow vesting |
| Performance condition recognition status - Whether the condition was recognized or unrecognized |
| Recognition date - Date the condition is recognized |
| Actual payout percentage - The payout percentage, relative to original grant amount |

You'll see these fields in these reports and are able to add them as optional fields in other custom reports:

|     |     |     |     |
| --- | --- | --- | --- |
| Equity Awards outstanding | Equity Plan Granted report | Options outstanding report | Securities Ledger |

Alex Chen

5 years ago12/8/2020

[**Improved Equity Plan Balance Report**](https://releasenotes.carta.com/improved-equity-plan-balance-report-2JjJdK)

We're excited to release a new Equity Plan Balance Report for our Private Market customers. This report allows you to see your plan balance across all equity plans and better reflects the effects of plan pour overs and transactional events on securities.

You'll notice some improvements:

1. All equity plans will be included - you no longer need to select a equity plan while exporting the report
2. Pour over calculations are more accurate - overdrawn balances are reflected on plans clearly
3. RSAs are now tracked under "Equity Grants" - we'll be consistently tracking RSAs its an equity award in future reports

You can find this reports under top menu at Capitalization > Reports.

We'll be retiring the older version of the equity plan balance report as part of this release.

Alex Chen

5 years ago12/8/2020

[**Subscription Document Signing for Carta SPVs**](https://releasenotes.carta.com/subscription-document-signing-for-carta-spvs-2xXM1a)

Investors can now quickly and efficiently close SPVs on Carta!

General Partners invite prospective investors to their fund, those investors can read and complete the subscription documents, and GPs can close the fund –– all in one simple tool.

This product currently works with Carta SPVs using standard subscription documents.

Over the next few months, we'll expand this to allow full funds to close on Carta using their own documents and to pre-fill data for LPs that already have a Carta account.we'll

Ashley Chang

5 years ago12/7/2020

[**Information Clarity in the Equity Awards Ledger**](https://releasenotes.carta.com/information-clarity-in-the-equity-awards-ledger-1u6yNa)

**What’s coming:** The "Quantity" column shown in the "Options" tab of the Equity awards ledger will be re-labeled to "Original quantity" to more accurately reflect the information in this column.

We're highlighting this small change because it comes in anticipation of some improvements to Carta's transactional workflows that will reinforce the dynamic nature of option grants and their quantities.

**Who this affects:** All companies

**What’s better:** Information clarity

**Timing:** Live for all customers December 7th

Vince Lo

5 years ago11/30/2020

[**Roll-forward Reporting for Transaction Modeling**](https://releasenotes.carta.com/roll-forward-reporting-for-transaction-modeling-eTomA)

With Carta's new customizable ledger reports, you can easily calculate important values to determine key quantities in potential future transactions.

The fields below are available in all of the customizable ledger reports ( [Learn more about customizing reports](https://releasenotes.carta.com/new-equity-reporting-page-and-custom-reporting-2hZhQY)).

|     |
| --- |
| - Cumulative Vested<br>  <br>- Vested Outstanding<br>- Quantity Exercised<br>- Quantity Exerciseable<br>- Exercised Unvested |

Adjust the as-of date to run the report for a future date. Carta will use existing information, such as vesting schedules, to project future quantities.

Alex Chen

5 years ago11/6/2020

[**Exercisability settings for non-US companies**](https://releasenotes.carta.com/exercisability-settings-for-non-us-companies-1MepG0)

_Non-US, private companies in supported regions now have the ability to enable exercising workflows for their optionholders. Optionholders can access wire payment instructions within Carta after exercise approval to send funds directly to the company._

#

# Who this affects:

- 🇰🇾   private Cayman Island companies
- 🇨🇦   private Canadian companies
- 🌐   \+ more locations in the future!

# What's new:

- Supported non-US, private companies can enable offline wire exercising, allowing their optionholders to initiate and track an exercise request within the Carta platform.
- Company admins can manage payment instructions that are provided to optionholders after an exercise is approved.
- Company admins can toggle exercisability on and off, as well as select which grant types are exercisable.

# Action required:

- Company admins must visit the _Transaction Settings_ page to enable exercising
- Companies must have a valid fair market value (FMV)

# Resources:

- [Support article: Exercise workflow for optionholders](https://support.carta.com/s/article/exercising-via-wire)
- [Support article: Overview of option exercising via the offline wire exercise workflow](https://support.carta.com/s/article/wire-exercise-workflow)

Gwynne Burgess

5 years ago11/4/2020

[**Preferred shareholders can request ownership when accepting securities**](https://releasenotes.carta.com/preferred-shareholders-can-request-ownership-when-accepting-securities-4gDVo4)

## What's New:

- Preferred shareholders can now request ownership details (like fully diluted share count or detailed cap table information) when they accept certificates. Previously this request action was available only after the stakeholder's account had been set up and a security accepted. This change helps empower company admins to set the correct respective access levels for investors more effectively. This helps both companies and their investors get the most out of the Carta platform with clearer information sharing workflows.
- The information management workflow for companies remains the same. Company admins can still select the appropriate level of data sharing access for each stakeholder. For our summary of these levels, we've detailed them [here](https://support.carta.com/s/article/levels-of-cap-table-access).

**Accept screen for preferred shareholders accepting preferred shares**:

We will be rolling out these changes during the week of November 2nd.

Ry Sullivan

5 years ago10/20/2020

[**Using Custom Spreadsheets When Adding New Stakeholders in Bulk**](https://releasenotes.carta.com/using-custom-spreadsheets-when-adding-new-stakeholders-in-bulk-1d13lS)

**What’s coming:** Admins can now upload new stakeholder information using data stored in custom spreadsheets/reports

**Who this affects:** All companies

**What’s better:**

For companies that use HR Providers to store their stakeholder/employee information, their company admins can now upload new hire information into Carta in bulk using the HR Provider's report (xls, or xlsx) with minimal modifications.

This workflow is an enhancement to the existing Bulk Add Stakeholders flow, with a new step for users to map the columns in the report to Carta data fields.

**Timing:** Live for all customers Oct 20.

Steven Camina

5 years ago10/20/2020

[**Changes to Watermark Styling**](https://releasenotes.carta.com/changes-to-watermark-styling-1fhQoo)

We've listened to your feedback on watermark styling obstructing the readability of the documents and we've made a few changes to address those concerns. We'll continue to iterate on our watermarking capabilities and tools in the coming months and we are starting with the following changes.

**Here's a sample document with the old watermark styling**

**Here's the same sample document with the new watermark styling**

****

**Specifically, we've made the following changes with this iteration:**

- Reduced opacity of the watermark text
- Updated alignment between the rows
- Fewer repetition

**Who these changes affect?**

All Carta users who choose to apply watermark on their documents. These changes will be rolling out to all users today.

Amol Patil

5 years ago10/14/2020

[**Rule 701 Worksheet Updates**](https://releasenotes.carta.com/rule-701-worksheet-updates-2GYOrK)

Recently, we've made updates to the Rule 701 worksheet to improve the calculation methodologies. Here are a few changes we hope you'll find useful.

1\. Ability to a reporting date range - regardless of whether your company uses a rolling or fixed reporting period for Rule 701, you have full control over the securities to include in the report. By default, we show a 12 month rolling period. Change dates to review historical data or model out future issuances.

2\. Report calculation methodology detailed -

- We do not include canceled or expired securities in our Rule 701 check
  - Securities that are canceled as part of a transfer or repurchase will remain included in the report
    - The resulting balance certificates from the transfer or repurchase stock are excluded
- Common certificates resulting from the exercise or settlement of Rule 701 equity awards are included
  - The exercised portion of the equity award is moved from ‘Common shares issuable upon exercise of Rule 701 option grants/RSUs’ to ‘Common shares issued under Rule 701’ to avoid double counting and enable accurate tracking of Rule 701 shares after an exercise.
- The aggregate sales price for RSUs is set to the FMV value at grant
- We define outstanding shares as securities that were not issued under Rule 701

Alex Chen

5 years ago10/14/2020

[**New Equity Reporting Page and Custom Reporting**](https://releasenotes.carta.com/new-equity-reporting-page-and-custom-reporting-2hZhQY)

**What's new**

- Custom reporting - set filter criteria and add, edit, and remove data columns
- Preview of ledger-based reports
- Unified reporting page - see Carta-provided reports and your custom reports

**How you can access the experience**

In the last few months, we've been introducing a new reporting experience and the ability to create custom reports. We hope this update will help you become more efficient in exporting the Carta data you need, in the format you need. If this experience is enabled for your company, you'll be able to access the page by clicking on Capitalization > Reporting in the top menu.

From top of the classic reporting page, you'll see a banner allow you to switch between the new and old reporting pages.

Once you've landed on the new page, you always have the option to head back to the classic reporting page at any time, by using the banner in the top navigation.

**How to run a Carta-provided report**

From this new page, you'll be able to access the same reports that you are familiar with. For example, clicking on the cap table report will surface a modal, allowing you to input the parameters necessary to generate the report

Some reports now support in-app preview and customization, these are denoted by a purple _customizable_ badge. Clicking on the report name brings you directly to the report preview. You're able to adjust parameters, see the filters applied, and a preview of the data before exporting the report.

**Customizing a report**

You can make modifications to this report and save it as a custom report by clicking _Copy and edit_ in the top navigation. From here you can make adjustments to filtering criteria and add, remove, or reorder columns.

Once you're happy with your changes, you can _Save and run_ the report or _export_ it to share.

Alex Chen

5 years ago10/12/2020

[**Inline tags for Company Investments**](https://releasenotes.carta.com/inline-tags-for-company-investments-UPCPC)

**Who this affects:** Investors with company investments on Carta

**What's new:** Investors can now see and add tags inline on our Company Investments page. This will allow users to filter their investments by tags.

**How it works:**

Tags are completely customizable. Users create a tag category and then add a the tags relevant to their investment strategy.

To see all tags for each investment, hover over the tags column.

To add new tags to an investment, users click the "edit tags" button. They can then search their tags or add a completely new tag.

Ashley Chang

5 years ago9/30/2020

[**Exercise Simulator on Mobile!**](https://releasenotes.carta.com/exercise-simulator-on-mobile-1aIkY8)

In an aim to make exercising simple and easy to understand, we are excited to support simulation tools on iOS and Android apps.

This release will allow any option holder on iOS or Android app to view the estimated cost and taxes by simulating an exercise before performing it.

There are three different scenarios available through the simulator depending on the type of the grant(s).

- All Vested Options
- Early Exercise all Options
- Customize your exercise

While All Vested Options and Early Exercise All Options allow users to simulate a fixed number of options based on the selected date, Customize your Exercise allows users to manually enter the number of options they plan on exercising.

Once the preferred scenario is selected and additional tax information has been provided, the cost and taxes for that exercise are calculated.

Hassan Waheed

5 years ago9/25/2020

[**Portfolio Merging**](https://releasenotes.carta.com/portfolio-merging-7Zwgo)

**Goal:** Allow users to merge their portfolios and view holdings in one view.

**Audience:**

- Users: Equity holder, Employees, Investors (Corporations), Investors (Fund Admin), LP
- Companies on Launch, Starter, and Growth
- Platforms: Web, iOS and Android

**What’s New:** Users will now be able to merge multiple portfolios into a single one using the self-serve portfolio merge tool.

- **Organization:** Organize and view different company holdings in a single portfolios
- **Customization:** Customize portfolio views by selecting which portfolios to merge

**Timing:** Rolled out on 09.24.2020

**Resources:** [https://support.carta.com/s/article/merging-portfolios](https://support.carta.com/s/article/merging-portfolios)

Hassan Waheed

5 years ago9/24/2020

[**Performance Awards**](https://releasenotes.carta.com/performance-awards-3hhgHK)

Corporations Early Access

Carta now supports performance awards with variable payouts

What’s New: Here are the highlights for Carta’s updated performance award module.

- Manage performance awards from a single, unified modal
- Support variable payouts
- Streamline award management with updated UX
- Updates to vesting modals for admins and participants
- (Coming soon) Custom vesting schedules with performance conditions
- (Coming soon) Milestone vesting with performance conditions

### Manage performance awards from a single module

Carta’s new performance award functionality allows administrators to manage performance criteria and payout from a single module. Performance criteria can be created and applied to multiple vesting schedules and many grants at once. Awards sharing the same performance criteria are all managed from a payout perspective from a single action:

### Support variable payouts

Carta now supports variable payouts for performance awards. Performance awards can be configured to allow for payouts at greater than or less than 100% of target.

Note: Carta will initially reserve shares from the plan’s share pool at the maximum payout amount.

### Streamline award management with updated UX

Performance conditions can now be created and tied to vesting tranches:

Performance conditions now can have both variable (pay out at greater than or less than 100%) or non variable payouts. Performance conditions can be attached to multiple vesting schedules; achievement is governed by managing the condition itself and flows back to all affected tranches for vesting:

The performance condition(s) are then tied to a vesting schedule or individual vesting tranches:

Associating grants with a performance vesting schedule will allow administrators to manage condition achievement by evaluating the condition itself. Performance tranches on the award will not pay out until the related performance criteria are achieved:

### Updates to vesting modal for admins and participants

Prior to achievement of a performance condition, the vesting modal will show no shares vested for tranches tied to performance conditions. The progress table will indicate the performance condition that is tied to each tranche, and will show the potential amount that can be earned.

Following the evaluation of the condition, tranches that have met both the time and performance conditions will show as vested and will allow exercise (if options) or release (if RSUs). The following screenshot shows the condition “Liquidity Event” as achieved on 9/16/2020, allowing the tranches that have met both the time and performance based conditions to vest:

Coming soon

While this initial release covers performance awards and standard vesting templates, we will soon release additional functionality. This includes the ability to associate performance conditions with custom vesting templates and schedules, as well as combining performance conditions with milestone vesting events. An upcoming entry will cover these items.

Bryan Wells

5 years ago9/24/2020

[**Improvements to the exercise approval screen**](https://releasenotes.carta.com/improvements-to-the-exercise-approval-screen-2RaaJO)

**What's coming:**

Make more informed decisions when reviewing and approving option exercise requests with key information at your fingertips

**Who this affects:**

Users with the "Option exercise approver" role in companies issuing stock options with online exercising enabled

**What's better:**

- The ability to approve or reject exercise requests
- Information about the option grant and stakeholder is readily available
- Clearer presentation of information

**New exercise approval screen:**

**Previous exercise approval screen:**

****

**Timing:**

- Rolling out to 10% of customers on September 28, 2020
- Release percentage will slowly increase to 100%

Vince Lo

5 years ago9/24/2020

[**83(b) elections for Profits Interest Units**](https://releasenotes.carta.com/83b-elections-for-profits-interest-units-2VHKOQ)

## What’s coming:

A simple way to manage 83(b) elections for Profits Interest Units

## Who this affects:

- LLCs
- US-based equity holders who are issued Profits Interest Units

## What’s new:

- **83(b) file management**

Equity holders and admins now have a dedicated place for 83(b) elections for Profits Interest Units. On the PIU modal, users will see an 83(b) elections tab where they can access the generated 83(b) election form and upload a signed copy for their issuing company and personal records.

- **83(b) template for PIUs**

Carta generates a PDF template based on the information in the platform.

- **83(b) reminders**

Timeliness is important for 83(b) elections. Equity holders will see various reminders in-app and by email highlighting 83(b) eligibility.

- **Filtering on 83(b) filing status**

For company administrators, it is easy to filter PIUs based on the 83(b) filing status.

Gwynne Burgess

5 years ago9/23/2020

[**Safe & Convertible Note Calculator**](https://releasenotes.carta.com/safe-and-convertible-note-calculator-1Ee4oM)

**What’s coming:**

- This scenario modeling tool helps founders predict the future impact of Safe and Note ownership when converted at a future priced round.

**Who this affects:**

- Users: Equity administrators, Law firm partners
- Packages: All packages (Launch, Starter, Growth, Scale, and IPO-Ready will receive this calculator)

**What’s new:**

- **View pre and post-money** dilution before and after a future priced round, visualizing your ownership at multiple future valuations.
- **Model multiple Notes or Safes and a priced round** to account for all anticipated fundraising activity between now and the completion of a future priced round.
- **Assess the potential impact of different types of convertibles**, including pre-money Safes vs. post-money Safes.

**Timing: In September, all companies received access to this calculator.**

****

## Calculation Definitions For Reference:

**Option Pool Increase**

(Target Available Pool % \*  Post-Money Fully Diluted Shares) - Available Options

**Post-Money Valuation**

Preferred Price Per Share \* Post-Money Fully Diluted Shares

**Preferred Price Per Share**

Pre-Money Valuation / (Current Fully Diluted Shares + Option Pool Increase+ Converted Shares)

**New Fully Diluted Shares**

Current Fully Diluted Shares + New Money Preferred Shares + Option Pool Increase + Converted Shares

**Conversion Price Per Share (Convertible Notes and Pre-Money Safe)**

Lower of:

- (1 - Conversion Discount) \* Preferred Price Per Share
- Valuation Cap / (Outstanding Shares + Outstanding Options +Available Options + Option Pool Increase)

**Conversion Price Per Share (Post-Money Safe)**

Lower of:

- (1 - Conversion Discount) \* Preferred Price Per Share
- Valuation Cap / (Outstanding Shares + Outstanding Options + Available Options + Converted Shares)

**Safe/Notes Ownership:**

- Convertible Note Converted Shares / New Fully Diluted Shares
- Safe Converted Shares / New Fully Diluted Shares

**Safe/Note holders post-priced round**

Converted Shares / New Fully Diluted Shares

**New investors post-priced round**

New Money Preferred Shares / New Fully Diluted Shares

**Your post-priced round ownership**

Founder Shares / New Fully Diluted Shares

**Dilution of Founder Shares**

(% change in Founder Ownership / Current Fully Diluted Shares) \* 100

**Value of your shares post-priced round**

Founder Shares \* Preferred Price Per Share

David Zhang

5 years ago9/23/2020

[**Improvements to our login screen**](https://releasenotes.carta.com/improvements-to-our-login-screen-1gnLtm)

What’s coming: We've made a few changes to our login screen to help users get access to their Carta account. We want to make sure your first interaction with Carta is clear, simple, and secure.

Who this affects:

- All Users accessing the [login screen](https://app.carta.com/accounts/login/).

What’s new:

- Added a new link to help troubleshoot log in issues and contact support.

- Updated the show password toggle to an icon to simplify the page layout. This is consistent with our designs also on our registration page.

**New log in page**

**Previous log in page**

Maxwell Estes

5 years ago9/22/2020

[**Drafts V2 - Early Access**](https://releasenotes.carta.com/drafts-v2-early-access-4pFvUI)

**What’s coming:**

- Drafting securities enhancements: in-app spreadsheet and data validations.
- Option grant and RSU drafting available now. Certificate drafting coming soon.

**Who this affects:**

- Users: Equity administrators, Law firm partners
- Packages: All packages (Launch, Starter, Growth, Scale, and IPO-Ready will receive this new drafting flow)

**What’s better:**

- In-app bulk actions for large data sets: This new and improved drafting and issuance workflow includes an in-app spreadsheet.
- Built-in data validation: We’ve built advanced validations into the product to improve data accuracy and completeness of your entire cap table.

**Timing:** So far in 2020, about 12,000 customers have received access to Drafts V2.  All remaining clients will be enabled in Q4 2020.  If you'd like to learn more or to request access sooner, email us at [draftsfeedback@carta.com](mailto:draftsfeedback@carta.com)

David Zhang

5 years ago9/22/2020

[**Material event making your 409a stale?**](https://releasenotes.carta.com/material-event-making-your-409a-stale-4iR8Na)

**What’s coming:** Let your employees know your 409a is out of date and their taxes may be impacted if exercising.

**Who this affects:**

- Users: Equity administrators and option holders
- Packages: Starter, Growth, Scale, and IPO-Ready will receive this functionality.  Any customer with 409a in their subscription.

**What’s better:**

Proactive, in-app communication: When enabling this functionality, all option holders, upon exercising, are shown a disclaimer that the FMV is stale and this could impact their taxes. See the full disclaimer below in “Option Holder view”.

**Equity Administrator view:**

**Option Holder view:**

**Timing:** Rolling out to all 409a customers on September 30th.

Connor Bathen