Carta Release Notes - Product Updates

5 years ago3/29/2021

Stakeholders from public companies can now more easily view their share and cost basis information

Who this affects:

Public company stakeholders

What's new:

Public company stakeholder portfolios now feature share lot details and transaction details tabs, capturing information about shares that are held and shares that have been sold.

Share lot details tab:

The Share lot details tab shows the stakeholder’s share lots. Stakeholders can view their acquisition date and cost basis for all share lots, as well as the source of the shares. For share lots linked to ISO awards or employee stock purchase plans, this view shows a qualifying date capturing the earliest date that the share lot can be sold in a qualifying disposition. The FMV at acquisition is also captured in the table to facilitate tax analysis.

Transaction details:

The second tab features transaction details for any sold lots. Stakeholders can view their sold share lots and their related cost basis and acquisition dates. This view also shows the disposition type if the share lot is linked to an ISO exercise or ESPP purchase. The view captures the proceeds for each liquidated share lot.

Bryan Wells

5 years ago3/25/2021

Certificates of exercised option grants are now generated and issued after funds are confirmed

For private companies, Carta will now generate the resulting certificate after the option exercise funds are sent to the company and have succeeded (may take 1-2 business days).

Who this affects:

Private companies: Admins and shareholders

What was the problem:

Previously, resulting certificates were generated after Carta confirmed the funds from stakeholder, but before the funds were sent to the Company. This created reconciliation issues for the company as they could not verify if funds were sent to the company before issuing the certificate.

What’s new:

We have now updated the flow to generate the certificate after funds are sent to the company, which may take 1-2 business days for the company to receive the funds.

This will help Company admins to reconcile exercise funds received during the exercise workflow.

Aneetha Sampath

5 years ago3/19/2021

Automated partner matching for Schedule K-1 uploads

Sending K-1s to the right Limited Partners can be a manual, error-prone process. The new K-1 uploader helps ensure that every tax document goes to the right LP. When you upload your K-1s into Carta, our system will automatically match or suggest matches for LPs based upon name and tax ID.

Who this affects

LP Portal customers, Fund Admin customers

What’s new

We have released a new tool for LP Portal customers to easily upload Schedule K-1 tax documents. This is the same tool used by Carta’s internal fund administrators.

The tool scans each K-1 to look for partner names and tax IDs, and compares them to the names and tax IDs we have on file.

If a K-1 matches with exactly one partner, the tool will automatically assign it to that partner.

If the tool is unable to definitively assign a document to a partner, it will suggest potential matches for user review.

To access the K-1 uploader, visit the Partners tab. Under Documents, select Upload documents and choose Schedule K-1.

Timing : This feature was released March 3, 2021

Ives Chor

5 years ago3/4/2021

New Equity Reporting Page

Starting 3/22, clicking on the Reporting from the Capitalization dropdown will take you to the new Equity Reporting page.

The new page contains all the equity reports you're familiar with along with significant improvements to help you access data more quickly and in the manner that you need. You'll notice:

You'll be able to switch back to the classic reporting experience via the blue banner at the top of the new Equity Reporting page until 4/5/21.

For questions or comments, please email out to reports-feedback@carta.com

Alex Chen

5 years ago2/26/2021

Pre-filling Subscription Documents for Existing LPs

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 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

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

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

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

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.

Sudeep Kumar

5 years ago2/17/2021

Tax Documents on Mobile

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

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

Bryan Wells

5 years ago2/4/2021

Health Check Dashboard [Early Access]

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

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.

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?

  2. 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.

  3. Can Carta fix the data issues for me automatically?

  4. 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.

  5. Why is it important for me to address Health Check errors?

  6. 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

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:

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:

Vince Lo

5 years ago2/1/2021

Tax mobility feature available to Carta admins

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:

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:

Vince Lo

5 years ago1/21/2021

Carta HRIS Integrations now available to Carta admins

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:

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:

Lastly, for Enterprise companies, Carta also supports flat file 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

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

Who this affects:

Supported platforms:

What's new:

Timing:

Resources:

Gwynne Burgess

5 years ago1/19/2021

Option exercise settings for exercises initiated and settled on Carta

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:

What's new:

Timing:

Action required:

Resources:

Gwynne Burgess

5 years ago1/14/2021

Limited Partner Onboarding flow

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.

Timing

This was released for Limited Partners on January 14, 2021

Ashley Chang

5 years ago1/6/2021

Limited Partner Settings

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.

Timing

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

Ashley Chang

5 years ago12/30/2020

Exercise flow improvements

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:

What's new:

Gwynne Burgess

5 years ago12/30/2020

Carta now supports performance conditions for grants with custom vesting schedules

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

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

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:

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

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

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

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

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

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).
- Cumulative Vested

- Vested Outstanding
- Quantity Exercised
- Quantity Exerciseable
- 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

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:

What's new:

Action required:

Resources:

Gwynne Burgess

5 years ago11/4/2020

Preferred shareholders can request ownership when accepting securities

What's New:

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

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

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:

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

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 -

Alex Chen

5 years ago10/14/2020

New Equity Reporting Page and Custom Reporting

What's new

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

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!

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).

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

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

Audience:

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

Timing: Rolled out on 09.24.2020

Resources: https://support.carta.com/s/article/merging-portfolios

Hassan Waheed

5 years ago9/24/2020

Performance Awards

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 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

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:

New exercise approval screen:

Previous exercise approval screen:

Timing:

Vince Lo

5 years ago9/24/2020

83(b) elections for Profits Interest Units

What’s coming:

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

Who this affects:

What’s new:

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.

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

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

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

Gwynne Burgess