3 years ago12/21/2022 [**Notify Users of Insufficient Funds**](https://releasenotes.carta.com/notify-users-of-insufficient-funds-3HCoes) ## What’s New When a user’s bank account does not have sufficient funds to pay for the exercise via ACH, Carta will warn the user when reviewing the exercise. The user will have the option to change the selected bank account, lower the amount of options to exercise, or proceed with the exercise. Additional improvements to the review exercise page better highlight key details of the exercise, reducing the need for scrolling. The UI also now explicitly states that the total represents a cost to the user. Users choosing to proceed are then given a final message that an underfunded exercise may be canceled. Who this affects This feature is available to employees who have set up their ACH bank account on Carta through Plaid. ## How it works Carta is using Plaid Balance to confirm the available balance of the associated bank account prior to submitting the exercise request. No account balance information is stored on Carta. This feature does not block users from submitting exercise requests, rather warns them about the potential risk of a canceled exercise. _What happens if the selected bank account doesn’t have enough money for the exercise?_ We now warn users that their account doesn’t seem to have enough money to cover the exercise cost. We allow them to proceed anyway, as they could potentially add funds to the account before Carta attempts to pull the funds. If it turns out there are insufficient funds, we will cancel the exercise. _How does Carta know how much money is in my bank account?_ By connecting a bank account through Plaid, we can use Plaid’s APIs to retrieve real-time balance information at the time of the exercise request. Checking the accounts available balance represents the predicted balance net of any pending transactions. This type of information is often used to protect against overdrafts and non-sufficient funds fees. For more information on Plaid Balance, [see here](https://plaid.com/products/balance/). _What if I manually connected my bank account?_ Users can always connect their bank accounts manually instead of using Plaid. For these users we cannot know their available balance and they will not receive any warnings about insufficient funds. ## Timing - 12/21/2022 - Released to 25% of users, with general availability by the end of January ## How do I learn more or get help? Visit Carta Support for more details on [Exercising Using ACH](https://support.carta.com/s/article/exercising-options-on-carta) and [Setting Up Your Bank Account](https://support.carta.com/s/article/set-bank-account) 3 years ago12/20/2022 [**New job specializations, quarterly refresh of equity benchmarks, and benchmark version selector**](https://releasenotes.carta.com/new-job-specializations-quarterly-refresh-of-equity-benchmarks-and-benchmark-version-selector-2y5tsc) # What’s new? We have 3 exciting updates now available in Carta Total Comp. You can now use: - Refreshed equity benchmarks - Benchmarks for 4 new specializations - Benchmark version selector (Bands page) ## View new job area specializations Users will now be able to view and use new salary and equity benchmarks for the following specializations: - Office Management (within Administration) - Recruiting (within HR) - Digital Marketing (within Marketing) - Partnerships (within Strategy) Note: Our sample size for new specializations  can be smaller than job area benchmarks, which could result in data volatility as we continue to update the data and grow our overall sample size. ### How do I see benchmarks for the additional specializations? You can view benchmarks for the Digital Marketing specialization by: 1. Visiting the [Bands](https://comp.app.carta.com/bands) page and selecting “Marketing” under Area. Once the marketing job area is selected, you can select the digital marketing specializations by selecting the Specialization dropdown. | | | | --- | --- | | | | 1. This will allow you to view salary/equity bands for levels 1 - 7 for the Digital Marketing specialization. 2. The above process can be followed for each of the new specializations. ### How do benchmarks for the additional specializations affect the Employee Scorecard? The compa-ratio is a quick way to compare an employee's compensation to your plan's target rate for a given job area, level, and location. The compa-ratios for an employee assigned to the Administrative (Office Management), HR (Recruiting), Marketing (Digital Marketing), Strategy (Partnerships) specializations will now be calculated using the target compensation for the specialization not the job area. ## Use refreshed equity benchmarks version 2022-12-20 ### What changes can I expect from these benchmarks? We have updated equity benchmarks for all job areas and specializations. These benchmarks are a reflection of the current market, characterized by limited fundraising, a slowdown in hiring, and a potential decrease in some company valuations. As a result, these benchmarks show decreases in target equity compensation. This is due to having a higher concentration in earlier stage valuations and more junior level roles. Equity benchmarks across mid-to-late stage companies and more senior level roles are flat to slightly above our previous benchmarks. Looking forward to 2023, assuming the overall environment remains the same, we would anticipate continued volatility and potential decreases in equity benchmarks. #### How do I update my plan to use the new benchmarks version? You can update your compensation plan to use the latest benchmark versions in one of two ways: 1. Navigating to  the [Plan](https://comp.app.carta.com/plan) page and clicking on the "Update available" link in the Active Plan window. 1. Navigating to the [Bands](https://comp.app.carta.com/bands) page and clicking on the "Update" bubble in the top left. You will have the opportunity to preview the new plan with the updated benchmarks version and assess their impact on your scorecard before accepting the new plan. ### View the current market without affecting your Scorecard Carta is focused on providing your business with the latest market compensation data. We understand that your plan is tied to a point-in-time, making your benchmark version an integral part of your compensation philosophy. We also understand that viewing future versions can help in understanding the current market, headcount planning, and more. Carta is excited to announce that you can now access the latest compensation benchmarks without updating your Plan. The Bands page will now default to Carta Total Compensation’s latest benchmarks. However, regardless of what is selected on the Bands page, the Scorecard will remain associated with your selected Plan’s benchmark. Users can easily toggle between the latest benchmarks and those associated with their compensation plan using the Benchmark version dropdown. How do I toggle the Bands page to display the benchmark associated with my Plan? 1. Visit the [Bands](https://comp.app.carta.com/bands) page and click the Benchmark version dropdown. 2. Select “Default Plan” to view the Bands page using the benchmark associated with your compensation plan. # What’s next? Carta Total Comp is working on international geo-adjustments. Jeffrey Glusman 3 years ago12/15/2022 [**Custom reporting product updates**](https://releasenotes.carta.com/custom-reporting-product-updates-1oy0zS) **What's new?** We are making updates to the equity reporting experience on January 9, 2023. **What's important about this change?** Next year, users will gain access to new reports on Carta. Some of these updates will include auditable equity plan balance and cap table reports. As part of these improvements, we will be limiting features like flexible columns and filters for Custom Reports starting January 9th. **What do I need to do?** We recommend that you download any reports that you may need to reference in the future. However, you can access the data you need using our extensive library of report templates after January 9th. **How do I learn more or get help?** Please reach out to our Support team using the In-App Help Center. [Log in to Carta](https://login.app.carta.com/credentials/login/). Jared Thomas 3 years ago12/14/2022 [**Customize cap table views**](https://releasenotes.carta.com/customize-cap-table-views-1gBeW4) ### What's new? Admins now have the ability to sort the interest type columns in cap table views. ### What's important or valuable about this change? You have one more option to customize the cap table view to your preferences. You can now sort the interest type columns in the cap table views to reflect how you want to view and export data. ### What do I need to do? On the cap table views page, click on **Columns**. You can show, hide, or rearrange the interest type columns by dragging and dropping them in the order you want. Within each interest type, you can also show or hide specific columns. Any changes you make to the interest type columns in cap table views will also be reflected in the export. ### How do I learn more or get help? For more information, visit our [support site](https://support.carta.com/s/article/carta-llc-cap-table-views-reports). Des Duggan 3 years ago12/14/2022 [**Data room usability enhancements**](https://releasenotes.carta.com/data-room-usability-enhancements-1fsQpO) ### What's new? Admins can now download data rooms, update access permissions, and view a complete activity log to see who is viewing files stored in your data rooms. ### What's important or valuable about this change? - **Download data rooms.** You can now download each data room as a zip file and maintain the folder and file structure, allowing you to share these files with anyone who doesn’t have access to Carta. - **Update access permissions.** Review and update who has access to a data room. You can easily remove access from anyone you previously invited to a data room with, whether they accepted the invite or not. - **View an activity log.** See a history for each data room, folder, and file,  including views and downloads. This is especially useful if you have shared a data room for due diligence with potential investors because you can gauge their interest. ### What do I need to do? To download a data room, navigate to the menu on the right side of the data room and click **Download**. To update access permissions, navigate to **Manage data room > Manage sharing**. You can see who the data room was previously shared with and can remove their access. To view the activity log, navigate to the menu on the right side of the data room and click **View activity**. This can also be done at the folder or file level, showing a filtered list depending on where the activity log is accessed from. ### How do I learn more or get help? For more information, visit our [support site](https://support.carta.com/s/article/carta-llc-data-rooms). Des Duggan 3 years ago12/14/2022 [**Introducing estimated values for equity**](https://releasenotes.carta.com/introducing-estimated-values-for-equity-1ekrTy) ### What's new? You can now enable estimated values for interests. Carta can automatically calculate and provide estimates for vested, unvested, and outstanding values as well as threshold gain or loss for profits interests, and MOIC. ### What's important or valuable about this change? You can demonstrate the value of equity to interest holders, including employees, investors, board members, and advisors. They can see estimated values for their interests in their Carta portfolio. There are multiple values available for you to choose from and each value includes information on how it is being calculated, which improves transparency. You have the flexibility to choose whether you want to calculate estimated values at all, make the values visible to Admins only or to Admins and interest holders. ### What do I need to do? Equity value estimates are based on the latest per-unit value. A per-unit value can come from a Carta 409A valuation or company Admins can manually input values obtained from other sources, such as a board determination or a recent fundraising round. **Add estimated value while creating a new Interest Type** Complete the flow until you reach the section **Estimated value**. Click on the drop-down **Visible To** to select who should be able to view the estimates. Note that you have the ability to determine whether only company administrators will have access to the estimates or if holders will also be able to see them. **Add estimated value while editing an Interest Type** Under **Interests and interest types**, click on the interest type and on **View interest type details**. Click on **Edit** on the right side of the **Estimated values** section. Click on the drop-down **Visible To** to select who should be able to view the estimates. Estimated values will be visible to interest holders in their Carta portfolio. ### How do I learn more or get help? For more information, visit our [support site](https://support.carta.com/s/article/carta-llc-overview). Des Duggan 3 years ago12/8/2022 [**Limited Partner Mobile Experience**](https://releasenotes.carta.com/limited-partner-mobile-experience-24xOGk) What's new? LPs can now manage their investments, all from their mobile device. What’s important or valuable about this change? **Access your investments, now on the go.** LPs can manage their fund investments and personal investments from anywhere, at any time. What do I need to do? Download the Carta mobile application, suited for iOS and Android devices, from your app store. Then login using the same information used to login to your LP Portal on the web application. Once on the home screen, select the fund investment or personal investment you’d like to view: If a fund investment is selected, you’ll be able to view key investment details like called capital and net asset value. Plus, you can view, download, and send all fund investment documents like partner capital account statements (PCAPs) and  K-1s. If a personal investment is selected, you’ll be able to view key ownership information like share amount and issue date. | | | | | --- | --- | --- | | | | | For fund investments, once on _Investment Details_, scroll to access your fund documents. Select _View all_  to view, search, and filter all fund documents. Use the search bar at the top to search by document name. Or select _Filter_ to filter by document type like PCAPs, capital calls, or tax. Allow Google access to your necessary cookies You won't be able to access this content if necessary cookies are turned off [Learn more](https://support.google.com/drive?p=enable_storage_access) Allow cookies Sign in to your Google Account You must sign in to access this content Sign in Can't access your Google Account We can't access this content right now. Try signing into your Google account or allowing cookie access to proceed. [Learn more](https://support.google.com/drive?p=enable_storage_access) Once your document is selected, select the export button to markup, send, or download. | | | | --- | --- | | | | How do I learn more or get help? Have additional questions about Carta’s LP mobile experience? Reach out to your account manager or request a demo today. Spencer Holton 3 years ago12/6/2022 [**Show employees their bonus programs in their Total Rewards Statement**](https://releasenotes.carta.com/show-employees-their-bonus-programs-in-their-total-rewards-statement-1OE0lG) ### What’s new Variable Compensation Programs are now automatically reflected in an employee’s Total Rewards Statements for all Carta Total Compensation customers. ### Give employees complete visibility into their total compensation Show employees all the bonus programs that have been assigned to them in their Total Rewards Statement. 1. Enable employees to see a complete picture of their compensation, including any variable programs that you’ve assigned to them 2. Save time with variable compensation programs automatically attached to your employees’ Total Rewards statements, with no additional manual work on your end ### Get started How do I create a Variable Compensation Program and reflect it in my employees’ Total Rewards Statement? You can get started with VCP in seconds. Here’s how to get started: 1. Navigate to the Plan page. 2. Variable Compensation Programs can be found on the bottom half of the page. 3. Click “Create variable compensation program” to be guided through the process of creating your first variable compensation program. 4. Once you have created a variable compensation program(s) and assigned those to the correct employees, they will automatically be shown in an employee’s Total Rewards Statement. ### Learn more Visit the [Carta Total Rewards](https://support.carta.com/s/article/total-comp-total-rewards) resource center for more details. Have additional questions about Total Rewards Statements? Reach out to your Account Manager or contact our [Support Team](https://support.carta.com/s/article/contact-us). 3 years ago12/6/2022 [**Introducing international in-app custom assumptions**](https://releasenotes.carta.com/introducing-international-in-app-custom-assumptions-1Mndja) **What's new?** Financial reporting can require flexibility. We’ve added new functionality to adapt to the reporting needs of your business with in-app custom assumption overrides. **What’s valuable about this change?** You won’t have to download a report from Carta and manipulate it in an external document. You can customize your reports right in the Carta web application, while remaining International Financial Reporting Standards (IFRS) 2 compliant. Here’s what you can customize\*: 1. Expected term 2. Volatility 3. Fair market value 4. Interest rate 5. Fair value **What do I need to do?** You can access Financial Reporting directly from your Carta account. Simply go to the Compliance tab and select Financial Reporting. You can apply custom assumption overrides after you’ve run a report within the Fair Values tab of Financial Reporting. **How do I learn more or get help?** Contact our [financial reporting support team](mailto:718@carta.com). \\* These customization options can be applied to tranches of an award. Users will be able to change the assumption on a tranche-level basis for a single award. Samantha Widman 3 years ago12/6/2022 [**New Toggle Optionality to View SOIs**](https://releasenotes.carta.com/new-toggle-optionality-to-view-sois-1t4usM) **What's new?** You can now toggle between fund or firm view for your SOI. The SOI review flow allows fund admins to send clients their SOIs either for the entire firm or at the fund level to review and approve at quarter and year-end. Some clients enjoy seeing their entire SOI in one view, while others need to review it by fund either due to preference, or the timing of when each fund SOI is wrapped up for the period. Because both options have been valuable, we have now added a toggle onto the SOI review screen that allows clients to see their SOI broken down by either investment or by fund. We've also included fund totals for cost and value, as we heard requests for this quick reference from clients as well. **What’s important or valuable about this change?** Depending on customer needs or preferences, the ease of this view change will make accessing either your fund- or firm-level SOIs super efficient. Previously, customers needed to go through their fund admin to prepare a new version of their SOI. Now they can do it quickly and efficiently without having to go through their fund admin. **What do I need to do?** Login to your Carta Platform and check it out today. You will be able to view your SOI by investment or fund by selecting the toggle option as seen below: **How do I learn more or get help?** Have additional questions about these views or SOI in general? Reach out to your fund admin or account manager today. Patrick Driscoll 3 years ago12/6/2022 [**On-demand educational content for employees with Tax Advisory**](https://releasenotes.carta.com/on-demand-educational-content-for-employees-with-tax-advisory-1rW5Ww) ### What's new Employees who have access to [Carta Tax Advisory](/content/private-companies/tax-advisory/index.html) through their employer now have access to on-demand educational content in their Carta portfolio. As an employee, you have the ability to re-watch your company’s recorded webinar, as well as view chapters of key concepts about your equity. The video chapters cover topics such as exercising your option, selling your options and other important topics. ### Who this affects This feature is available to employees who have access to Carta Tax Advisory through their employer. Employees will be able to view their company's recorded webinar once it has been completed. ### Where to find it As an employee, navigate to the Learn section of the Tax Advice page in your Carta portfolio. If you have any additional questions, please schedule a session with an Equity Tax Advisor. Jordan Agnew 3 years ago12/6/2022 [**Third Party Audit Partner Portal has Launched**](https://releasenotes.carta.com/third-party-audit-partner-portal-has-launched-1qNHqg) **What's new?** Carta has empowered our audit partners by creating an audit partner portal that will house all relevant documents to successfully complete a fund audit. We have launched this portal to make it easier to organize and streamline responses to questions and requests from auditors which historically have taken time and effort to consolidate. **What’s important or valuable about this change?** Audit Partners will have one location to go to find all of our documents. Fund administrators can easily organize and check for outstanding documents. This will save time and effort for auditors and fund administrators, making the end-of-year easier for our customers by proxy. _Documents that will now be added to this list include:_ - Formation Documents / General Docs - LPA - EIN Confirmation - Formation Certificate - Partners’ Equity - Subdocs - W8/W9 - Investor Side Letters - Transfers docs - Executed Investment Documents (Deal Docs Team) - Certificate of Formation / Incorporation - Stock Purchase or Closing Volume, Convertible Promissory Note, Sub Doc - Most recent cap table - Bank Statements - Invoices missing from Journal Entries - Management fee and interest calculations Fund administrators will add these to the portal or request them from customers when appropriate. **What do I need to do?** Generally, you do not need to do anything as this will affect third -party audit partners for the most part. However, there are a few things you can do to ensure that this offering is as strong as possible: 1. Ensure that you have selected an audit partner for your end-of-year needs. 2. Send all of your audit-related documents (see list above) to your fund administrator. You can do this by uploading them in the app, or sending them to your FA via email. 3. Work with both your audit partner and your fund admin on questions about these documents over the course of the end-of-year audit process. **How do I learn more or get help?** You can ask your fund administrator or your audit partner if you have any questions. However, it is important to know that this predominantly affects your audit partner, not you as the customer. Have additional questions about this or are you curious about what your tax and audit partner will do this end-of-year season? Check out our [VC Tax and Audit Support Article here](https://support.carta.com/s/article/carta-vc-tax-audit-faqs). Patrick Driscoll 3 years ago12/6/2022 [**Performance Metrics are Now Available on Capital Account Statements**](https://releasenotes.carta.com/performance-metrics-are-now-available-on-capital-account-statements-1jZkiI) **What's new?** Carta is thrilled to announce performance metrics can now be shown on the capital account statement. Fund preparers now have the ability to include performance metrics including TVPI, DPI, RVPI, and Net IRR. Note that customers need to reach out to their fund administrator to activate this offering. **What’s important or valuable about this change?** Institutional investors will use this as they require these metrics for their ILPA reports. This feature brings fund preparers one step closer to being ILPA compliant. Additionally, this streamlines access to these metrics for multiple stakeholders including customers, auditors, LPs, and more. Depending on their strategy, users can toggle these on or off from their statements. **What do I need to do?** Reach out to your Fund Administrator to request that these be turned on. Note that you cannot do it in the application. _See the example below:_ Contact your account manager or fund administrator for more information or questions. Patrick Driscoll 3 years ago12/2/2022 [**Off-Platform Payment Settlement (Capital Markets)**](https://releasenotes.carta.com/off-platform-payment-settlement-capital-markets-4FL9pS) **What's new?** Carta Liquidity now offers more optionality when paying transaction proceeds following a tender offer or other private secondary transaction. Issuers can now elect to have proceeds for one or more sellers be paid outside of the Carta Liquidity platform via a third-party (including the Issuer). Below are several use cases that Carta now supports: - Proceeds paid through an Issuer’s payroll; - Proceeds paid to a seller’s trust account for distribution to beneficiaries; or - Use of a third-party paying agent to distribute proceeds. ### How does it work? During the setup phase of a transaction, an Issuer can elect to have the transaction proceeds for one or more sellers paid off-platform. The Issuer will inform Carta which participants should receive their proceeds off-platform, and the transaction’s Offer to Purchase (OTP) will describe the method by which participants will receive their net sale proceeds. At settlement, Carta will deposit proceeds for participants not selected for off-platform payment into their Carta brokerage accounts. For a company repurchase (share buyback), no further action is taken by Carta for the balance of the proceeds as the Issuer will be responsible for the distribution through payroll or otherwise. In the case of a third-party tender offer, Carta will send the balance of the proceeds to the Issuer to handle the distribution to the remaining sellers. At the close of the transaction, the total amount of money distributed by Carta or a third-party will be recorded in the Transaction Summary Report for the Issuer and the Trade Confirmation for each seller. _(a) Issuer Transaction Summary Report_ _(b) Trade Confirmation_ _(c) Statement Cycle Report_ **Distribute tender offer sale proceeds off-platform through payroll or other means for more payment flexibility** The off-platform payment settlement feature will: - Increase an Issuer’s flexibility in determining how transaction proceeds will be paid to sellers for secondary transactions; - Reduce tax withholding and reporting complexity when Issuers choose to leverage their payroll system to distribute proceeds and withhold taxes; and - Make it easier for employee sellers that receive proceeds through payroll to contribute those additional funds to their 401k’s or other automated savings plans. **Reach out to Carta to get the process started** Do you want to run a tender offer or other private secondary transaction with a fully-integrated cap table experience? Reach out to Carta Liquidity’s Corporate Coverage team at [company\_coverage@cartacapitalmarkets.com](mailto:company_coverage@cartacapitalmarkets.com) to figure out the best path towards liquidity. _Note:_ _1\. Brokerage accounts and other brokerage services are offered through Carta Capital Markets, LLC. Carta Capital Markets, LLC is a member of FINRA/SIPC._ Eitan Itzkowitz 3 years ago12/2/2022 [**Dilution Report (Public Markets)**](https://releasenotes.carta.com/dilution-report-public-markets-4Dumnm) **What’s new?** Public company administrators can now run a Dilution Report to help them calculate their company’s diluted earnings per share (EPS). The Dilution Report will contain the simple and weighted average of common stock outstanding (WASO), the number of incremental shares, the average trading price for common shares, and supporting information for all calculations. This feature will simplify diluted EPS calculations and help public companies meet their diluted EPS reporting requirement for their quarterly income statements. **How does it work?** To calculate diluted EPS, an Issuer will need the WASO and shares outstanding (new common shares issued at conversion - repurchased shares) for the reporting period in question. The Issuer will calculate its own net income, preferred dividends, and after-tax cost of interest. _Note: \* denotes fields not provided by Carta_ After logging into their Carta accounts, public company administrators can navigate to the Financial Reporting section of their profile to generate a new Dilution Report for a desired reporting period. Dilution reports are only available for periods that begin on or after an Issuer’s IPO date. After the report is generated, the administrator can download an Excel file which includes calculated values for simple and weighted average of common shares outstanding, the number of incremental shares, the average trading price for common shares, and supporting information. The file also includes an “Errors” tab to flag any data issues that should be resolved to produce an accurate report. **Simplify diluted earnings per share calculations to meet quarterly reporting requirements for public companies** With the Dilution Report, public company administrators can: - Save time and reduce the work required to calculate WASO and shares outstanding to meet public company reporting requirements; - Customize the diluted EPS reporting period as needed; - Use Carta’s calculations to verify their own calculations as a sanity check; and - Understand if there are any data discrepancies that need to be addressed. **Start using the Dilution Report now!** Do you need additional help in using the Dilution Report? Refer to this [support article](https://support.carta.com/s/article/dilution-report) for more information. For further assistance, reach out to Carta’s Financial Reporting team at [718@carta.com](mailto:718@carta.com). Samantha Widman 3 years ago11/30/2022 [**Wire Instructions Update**](https://releasenotes.carta.com/wire-instructions-update-4pRl5e) ## What’s New We have made UI improvements to our Wire Instructions for online wire exercises. The new UI better highlights the amount, timeline, and considerations for completing the transfer. The updates include: - User and exercise specific details such as grant, company, option holder, date, and amount. - Clearer instructions for the bank on how to handle intermediary fees with specific SWIFT payment instructions. - Approval and reminder emails now show the last day for Carta to receive funds, so the exercise can be complete. ## Who this affects All international users who are exercising options via online wire. ## How it works The updated Wire Instructions will be available in the same places as before (Tasks view, PDF, Exercise Progress view). You can see the new templates here: **Tasks view** **** **PDF** **Exercise Progress view** **** **Email communication** Both Approval and Reminder emails show the date for Carta to receive funds. ## Timing - Available on all online wire exercises starting 11/30/2022 ## Additional Resources Support Article: [Exercising Via Online Wire](https://support.carta.com/s/article/exercise-options-via-wire) 3 years ago11/29/2022 [**Land top talent by giving candidates optionality during negotiations**](https://releasenotes.carta.com/land-top-talent-by-giving-candidates-optionality-during-negotiations-1ZZ8pa) ### What’s new Flexible Offer Letters are now available to all Carta Total Compensation customers. ### Who this affects All Carta Total Compensation customers. ### Let candidates choose a compensation breakdown that’s best for them. Flexible Offer Letters adds optionality to our Better Offer Letter. Now, you can: - Offer up to three different compensation packages to a candidate, setting each with different amounts of  cash, equity, and variable compensation - Empower candidates to visualize their future at your company, with first year comparisons and projected compensation charts - Do it all in an integrated, complete platform with CTC’s acceptance flow and Carta’s complete platform ### How it works Start using Flexible Offer Letters today. Offer Letter Creation Form When creating an offer letter, you can add up to three  packages in the Compensation section. Flexible Offer Letter: Create multiple packages Flexible Offer Letter: Create multiple packages Sound ON 1× Invalid domain for site key. ERROR for site owner: Invalid domain for site key reCAPTCHA Candidate Experience The candidate will be able to select which package is represented in the First year compensation summary. The candidate will be able to compare each package against each other in the Compensation Projection chart, too. For companies using Carta’s acceptance flow, candidates will be prompted to confirm which compensation package they would like to accept in a modal prior to agreeing to the offer. Companies that are not using Carta’s acceptance flow in the offer letter can correspond with candidates offline to determine the offer letter package the candidate would like to accept. ### Have additional questions? Check out our [Support Center](https://support.carta.com/s/article/offer-letter-create#:~:text=For%20teams%20that%20need%20to,culture%2C%20and%20everything%20in%20between.) or reach out to your Customer Success Manager. 3 years ago11/29/2022 [**Capital Activity Tool**](https://releasenotes.carta.com/capital-activity-tool-1ODbcA) **What's new?** Capital calls and distributions have historically been completed via communications directly with your fund admin outside of Carta’s Platform. This system led to potential delays due to a lack of transparency and tracking capabilities. Carta has now launched the new and improved Capital Activity Tool. This combines capital calls and distributions on Carta’s platform, enabling your fund admin to complete your requests easily from within while maintaining transparency and communications with you and your stakeholders. **What’s important or valuable about this change?** Carta has reworked our capital call and distribution processes to streamline your capital to get it to where it needs to go as quickly as possible. The new capital activity tool does the following: - Combines capital calls and distributions under one tab for your fund admin team - Handles complex net events where LPs are being called and distributed value at the same time - Allows for distributions to use the same in-app GP approval flow that cap calls use - Allows for distributions to use the same pro rata math to auto-populate figures that cap calls have - Adds itemization support (bucketing) so journals and cap call notices can detail how much of a cap call is for expenses, fees, and more - Calls outside commitment are now supported - Cap calls can use dynamic fields for notice building (previously distributions only) - The support section is now customizable on notices - Progress (LPs paid) figures are now accurate - Tracks partial amounts from LPs With this new infrastructure, Carta will start adding features at a high velocity. Stay tuned for improvements to in-kind support, notice customization, scheduled LP reminders, sub-close interest, and more. **What do I need to do?** Continue to call capital via the in app process. This will primarily affect your fund administrators. We will transition all funds to this new process shortly. **How do I learn more or get help?** Please refer to these screenshots for a sneak peek of what your fund admins can now select. _Your fund admind can now select from a menu of options in the Capital Activity Tool, including:_ - _Capital Calls_ - _Subsequent Close Call_ - _Distribution_ - _Custom Event_ _Fund admins can now add a due date and the contribution event easily._ _Fund admins can now select from a variety of buckets for your capital activity and decide how to allocate across investors._ _Fund admins can now get more granular with data, allowing them to make sure they call and distribute the correct amount for each stakeholder._ **Track all of your capital activity in one easy location.** Patrick Driscoll 3 years ago11/10/2022 [**Quarterly Salary + Total Cash Benchmark Refresh**](https://releasenotes.carta.com/quarterly-salary-total-cash-benchmark-refresh-1QRLQQ) # What’s new? ## Benchmarks version 2022-11-10 ### What changes can I expect from these benchmarks? We have updated salary benchmarks for all job areas and specializations. We have also updated total cash compensation benchmarks for sales roles. Salary benchmark changes in this release reflect a slowing market for talent among startups. Most job areas saw little no change versus our last release, with increases/decreases of less than 1%. We saw most of the volatility in this release within engineering specializations, which have smaller sample sizes than the broader job area. Most notably, Mobile, QA, and Web Engineering all saw large increases across peer groups and levels, bringing pay for the various engineering specializations into closer alignment. #### What were the largest areas of movement from these benchmarks? IT, Sales, and Administration roles saw the largest increases ranging from 2%-5%, though the increases to IT and Administration roles are largely due to sample size changes. Support roles saw the largest decrease (4%). All other job areas changed by less than 1%. Increases: - IT - Sales - Administration Decreases: - Support #### How do I update my plan to use the new benchmarks version? You can update your compensation plan to use the latest benchmark versions either by: 1. Visiting the [Plan](https://comp.app.carta.com/plan) page and clicking on the "Update available" link in the Active Plan window. 1. Navigating to the [Bands](https://comp.app.carta.com/bands) page and clicking on the "Update" bubble in the top left. ## What’s next? Carta Total Compensation is working on updates and improvements to our equity benchmarks in order to reflect the current labor market. Jeffrey Glusman 3 years ago11/9/2022 [**Interest holder addresses**](https://releasenotes.carta.com/interest-holder-addresses-3XqYDu) ### What's new? You can now keep a record of interest holder addresses. ### What's important or valuable about this change? Gain a single source of truth with all interest holder information centralized in Carta. Admins can now input a physical address when adding a new interest holder or editing an existing one and this address can be viewed in the interest holder ledger and in the interest details. ### What do I need to do? When issuing interests to new holders, Admins can now bulk upload addresses in the interest holder spreadsheet. You will see different columns for different address fields. Upon issuing, the address will be saved on the new interest holder. When adding a new interest holder or editing an existing one, Admins can record the address in the new Address section. Inputting the Country/Region will make the other address fields appear. ### How do I learn more or get help? For more information on managing interest holders, visit our [support site](https://support.carta.com/s/article/carta-llc-manage-interest-holders). Des Duggan 3 years ago11/9/2022 [**Exercising options and warrants**](https://releasenotes.carta.com/exercising-options-and-warrants-3WiA7e) ### What's new? We’ve simplified Carta’s UI to help Admins exercise multiple options or warrants in one streamlined workflow. ### What's important or valuable about this change? When interest holders elect to exercise their outstanding options and warrants, you can now enter the exercises all together in Carta to reflect the transactions on the cap table. You can also issue new interests to the holders and keep a record of the transaction in the interest history. ### What do I need to do? In the interests ledger, navigate to the interests you want to exercise in the left sidebar. Select one, multiple or all interests. Navigate to the Action button and select Exercise. The new UI will walk you through exercising the interests, including: - Reviewing the destination interest type that this interest will settle into once it is exercised - Specifying the details of the interest being exercised, including the number of units to exercise and the price per unit - Specifying the new interest details, including the invested capital amount, issue price, and any applicable custom fields - Reviewing everything and confirming the exercise After you confirm, the interests resulting from the exercise will be issued, affected interests will be updated, and cap table reports will reflect the exercises. You can also view the transaction in the interest history. ### How do I learn more or get help? For more information, visit our [support site](https://support.carta.com/s/article/carta-llc-overview). Des Duggan 3 years ago11/3/2022 [**Tax Withholding Estimates during Order Entry (Capital Markets)**](https://releasenotes.carta.com/tax-withholding-estimates-during-order-entry-capital-markets-1zP0TS) ### What's new? Sellers participating in a private market secondary transaction, such as a tender offer, on the CartaX ATS can now view their estimated tax withholdings\* during the Order Entry phase. Equipped with estimated tax information, sellers who are US-based employees will be able to make a more informed decision when determining sell preferences and better anticipate their net proceeds. ### How does it work? Issuers sponsoring a tender offer or another structured transaction will provide Carta with their employees’ city, state, and/or federal jurisdictional tax rates. Carta will use the applicable tax rates to calculate their individual estimated tax withholding. As sellers select which of their eligible stock holdings to sell during the Order Entry period, the Proceeds Calculator on the right hand side of the screen will automatically update and calculate what their estimated net proceeds may be after fees and taxes\*. Sellers can then click on “View tax details” (hyperlink within the red box above) to view a breakdown of the estimated tax withholdings by security type and tax jurisdiction. ### Enable your employees to understand their estimated tax obligations earlier in a tender offer when placing their sell orders. The Tax Withholding Estimates during Order Entry will: - Enable sellers to see how their security elections during the Order Entry period may impact their estimated tax withholdings, and ultimately, expected net proceeds; and - Save Issuers time by helping to reduce the amount of questions received from sellers about their potential tax withholding obligations. ### Reach out to Carta to get the process started _\*Note - The estimated tax withholdings is for illustrative purposes only. The withholding amount shown is only an estimate. The actual amount withheld from a seller’s proceeds may differ significantly from the amount shown. Tax withholding is not a final calculation of taxes due. A seller may have a greater or lesser tax obligation than the amount withheld by the Issuer, and the seller is responsible for determining whether and when any additional tax payments are required._ _Disclaimer: Carta, through its wholly owned broker-dealer subsidiary, Carta Capital Markets, LLC, offers a streamlined experience for executing pre-negotiated stock transfers, tender offers, and other secondary liquidity transactions. Carta Capital Markets, LLC is a member of FINRA/SIPC._ Eitan Itzkowitz 3 years ago10/31/2022 [**Tagging portfolio companies within firm investment view**](https://releasenotes.carta.com/tagging-portfolio-companies-within-firm-investment-view-4wC8zm) **What’s new?** We’ve improved our investment tagging feature so you can easily categorize, filter, and view your investments by industry, geography, and more. Investment tagging allows you to enter any custom category attached to your portfolio companies so you can personalize the information on the Investments tab of your fund dashboard. Plus, you can now easily view the performance of your investments based on category. **How it works** Category refers to the classification, like industry, while tag refers to the type of classification, like fintech. To apply a new tag, edit an existing tag, or create a new category, navigate to your Overview tab, then click Investments. Select “+” next to the investment you’d like to personalize. To add a new category or a new tag (not already in the dropdown), click Manage All Tags & Categories. To add a new category, select the dropdown next to Categories and click + Add New. Enter the category, and select Add new tag category. To remove a category, select the category from the drop down, and then click Delete category. Investment Tagging: Adding new or deleting a category A Investment Tagging: Adding new or deleting a category Sound ON 1× Invalid domain for site key. ERROR for site owner: Invalid domain for site key reCAPTCHA To add a new tag within a category, enter the tag in the box labeled tag name and click Add tag. To remove a tag, select the trash can symbol next to the tag. Investment Tagging: Adding new or deleting a tag A Investment Tagging: Adding new or deleting a tag Sound ON 1× Invalid domain for site key. ERROR for site owner: Invalid domain for site key reCAPTCHA To edit a tag for an existing category, select the dropdown next to the tag, then select the new tag you’d like to apply to that investment. Investment Tagging: Editing an existing tag A Investment Tagging: Editing an existing tag Sound ON 1× Invalid domain for site key. ERROR for site owner: Invalid domain for site key reCAPTCHA To add an additional tag or category to your investment (the tag and category must already exist in the dropdown), select + Add Another Tag. To delete an additional tag or category, select - to the right of the tag. Investment Tagging: Adding or deleting an additional tag A Investment Tagging: Adding or deleting an additional tag Sound ON 1× Invalid domain for site key. ERROR for site owner: Invalid domain for site key reCAPTCHA Once your new category or tags are entered, click Submit. You will now see a more detailed view of your investments. To filter by category, select Filter, enter the filtering condition, and select Apply Filters. **Who this effects** Anyone utilizing Carta’s fund administration, LP Portal, Portfolio Insights and free firm portfolio can access this feature. Kali Borkoski 3 years ago10/31/2022 [**Communication Center (Public Markets)**](https://releasenotes.carta.com/communication-center-public-markets-4ullwQ) **What's new?** Public company administrators can now utilize the brand new Communication Center to send secure communications to stakeholders in the company’s equity plan managed on Carta. This feature allows public companies to create and send timely communications to equity plan members in bulk. Recipients can be selected by relationship type and other filters to further customize the message’s distribution list. In addition, the Communication Center dashboard allows company administrators to view sent and drafted messages, and see which stakeholders have viewed a communication. Examples of communications include, but are not limited to: instructions on how stakeholders can manage their equity at Carta, employee stock purchase plan (ESPP) offerings, upcoming trading windows, and updated disclosures. **How does this work?** [Permissioned company administrators](https://support.carta.com/s/article/corporate-permissions) may access the Communication Center. Before sending any messages, company administrators should check that the company’s [Stakeholder Ledger is up-to-date](https://support.carta.com/s/article/update-stakeholder-details) to ensure messages are sent to the correct individuals. At minimum, an individual’s Relationship, Contact Email, and Officer Code (if applicable) should be updated. Once these steps are completed, company administrators can proceed to the Communication Center dashboard (found under the Employee tab of the main navigation toolbar). Here, company administrators with Company Editor or Legal Administrator roles can compose, review, and send secure messages with or without PDF attachments. They can also filter for previously sent and drafted messages. When choosing who to send a communication to, the Company Editor or Legal Administrator may send bulk messages by Relationship Type (e.g., Employee, Ex-Employee, Advisor), and then also filter recipient lists by Officer Code, Trading Restrictions, the employee stock purchasing plan (ESPP) an individual is a member of and associated status, or the outstanding security type(s) held by each stakeholder. Company administrators will have the opportunity to review the communication, save it as a draft, remove individuals as needed, and reconfirm the recipients before sending the message. After sending the message, stakeholders will receive an email notification that they received the secure message. They must log in to their Carta accounts to view the message, and messages on the Carta platform may not be forwarded to an external email account. Company administrators who can view the Communication Center dashboard can monitor which stakeholders have viewed the communication. **Send secure messages and archive them safely in a centralized location with Carta’s Communication Center.** The Communication Center allows public company administrators to: - Craft and send secure communications with or without PDF attachments in bulk to stakeholders within their public equity plans; - Easily create recipient lists by relationship type and other optional filters, removing the need to maintain multiple distribution lists manually; - Quickly filter recipient lists of sent communications by who has or has not viewed the communication; and - Review and archive communications to remain compliant with recordkeeping and reporting laws; **Start using the Communication Center now!** Need help with the Communication Center? Refer to this [support article](https://support.carta.com/s/article/communications-center) for detailed instructions on how to manage, view, and send out your next secure message. Carly Perera 3 years ago10/28/2022 [**SEC Rule 144 Affiliate Workflow Updates (Public Markets)**](https://releasenotes.carta.com/sec-rule-144-affiliate-workflow-updates-public-markets-eVAOY) **What’s new?** Carta improved how public company administrators can manage and designate equity plan stakeholders as Rule 144 Affiliates. Designating stakeholders as Affiliates ensures that their trade orders get reviewed before execution through a separate [SEC Rule 144](https://www.sec.gov/reportspubs/investor-publications/investorpubsrule144htm.html) due diligence workflow and that those trades are properly captured for Form 144 inclusion. Company administrators can also now easily access and review a filtered list of Rule 144 Affiliates from their Company Summary page. The management of Rule 144 Affiliate status has been separated from the Officer Code workflow to simplify this process and to ensure trading blackout periods for stakeholders with certain Officer Code(s) will not be impacted by one’s Rule 144 Affiliate status. **How does it work?** Company administrators can update Rule 144 Affiliate status by clicking on “Manage Employees” on the Company Summary page. From there, administrators can click on each stakeholder’s record and view their current Rule 144 Affiliate status. Administrators can also track the Effective Date of when a stakeholder was first marked as an Affiliate without leveraging Officer Codes. To designate an individual as a Rule 144 Affiliate, administrators can check the box within the Update Stakeholder flow: For enhanced security, Carta put controls in place to prevent stakeholders from inadvertently being removed as an Affiliate. Please contact Carta Support to help remove a stakeholder’s Rule 144 Affiliate status. **Easily manage, review, and designate public equity plan stakeholders as Rule 144 Affiliates to ensure trading compliance via an improved workflow.** With the improved Rule 144 Affiliate workflow, company administrators can: - Easily manage, review, and designate equity plan stakeholders as Rule 144 Affiliates; - Be assured that Affiliate trades go through the proper reviews and are included on Form 144; and - Set blackout trading periods for certain Officer Code(s) without an impact to a stakeholder’s Rule 144 Affiliate status. **Start using the improved Rule 144 Affiliate status workflow now!** Do you want to update Rule 144 Affiliate status for individual stakeholders or in bulk? Refer to this [support article](https://support.carta.com/s/article/rule-144-affiliate) for more information. Bryan Wells 3 years ago10/26/2022 [**Optional Sections in Carta Closings**](https://releasenotes.carta.com/optional-sections-in-carta-closings-1NqVZS) ## What’s new? With _Optional Sections_, a new feature of [Carta Closings](https://releasenotes.carta.com/carta-closings-45diq4), fund managers now have the ability to further customize their LPs subscription experience. ### **Create an even faster closings experience for your investors.** Our _Optional Sections_ feature allows you to hide sections of Carta’s Standard Investor Questionnaire, such as Qualified Purchaser (QP) or Qualified Client (QC), that may not be relevant to your fund or SPV. You can also disable, make optional, or require LPs to provide their wire instructions for future distributions as part of their subscription. ## How does it work? 1\. On the _Closings_ tab, select _Closings Details_.  Then, scroll down to _Customize Sections_. 2\. From here, you can make your selections to hide, require, or make optional the  wiring instructions, qualified purchaser, and qualified client sections. Then click _Save_. ## How do I learn more? To learn more about this feature, please reach out to your account manager. Have additional questions about [Carta Closings](/content/investors/closings/index.html)? Check out our [fund manager resource](https://support.carta.com/s/article/funds-subscription-documents) and [LP support article](https://support.carta.com/s/article/closings-for-lps), or [request a demo](/content/requestdemo/?ir=inv-fundadmin-hero1/index.html). Spencer Holton 3 years ago10/26/2022 [**Updated Scorecard for Total Cash Compensation**](https://releasenotes.carta.com/updated-scorecard-for-total-cash-compensation-1ITlUQ) # What’s new? Carta has updated the Scorecard to feature total cash compensation targets and compa-ratios for all employees within the sales job area. These targets will leverage the total cash benchmarks in combination with the parameters defined in your Plan. These changes will be reflected in both the company and employee scorecard. ## How do I enable total cash compensation targets on the Employee Scorecard? In order to access the new total cash functionality on the Employee Scorecard the employee must be within the Sales job area, total cash targets will be displayed for these employees regardless if they have been assigned variable compensation. For more information about assigning variable compensation checkout the following [support article](https://support.carta.com/s/article/variable-compensation-programs#assign). ## How do I access total cash compensation on the Scorecard? Carta added the following columns to the Scorecard: 1. Total Cash 2. Total Cash Target 3. Total Cash Ratio These columns are hidden by default but can be enabled by: 1. Navigating to the Scorecard and selecting the column dropdown. 2. Select the “Total Cash” options that you’d like to include from the dropdown. # What’s next? Carta Total Compensation is working to refresh our salary benchmarks in order to reflect the current labor market. Jeffrey Glusman 3 years ago10/25/2022 [**Introducing financial reporting custom properties**](https://releasenotes.carta.com/introducing-financial-reporting-custom-properties-290aPK) **What's new?** Custom properties are now available in Carta Financial Reporting. Custom properties are a simple way to classify and organize your Stock-based Compensation (SBC) Expense and Minimum Disclosures reports. **What’s important or valuable about this change?** If a custom property field is populated for a stakeholder, there will be a column in the Tranches tab of the SBC Expense and Minimum Disclosures reports allowing users to allocate expense to individual properties. **What do I need to do?** If custom properties are already created for individual stakeholders, users will just need to run a new reporting period in Financial Reporting to see the property columns populate. If the user has not yet added custom properties for stakeholders, the columns will not populate. To add custom properties, visit [this support article](https://support.carta.com/s/article/custom-properties). **How do I learn more or get help?** For additional support on this, contact [718@carta.com](mailto:718@carta.com) Samantha Widman 3 years ago10/24/2022 [**Custom Questions in Carta Closings**](https://releasenotes.carta.com/custom-questions-in-carta-closings-1iitO) ## What’s new? We understand the questions fund managers need answered by their LPs can vary depending on the entity. With _Custom Questions_, a new feature of [Carta Closings](https://releasenotes.carta.com/carta-closings-45diq4), fund managers and fund attorneys now have the ability to customize their LPs subscription experience, ensuring no question goes unanswered. If Carta’s standard Investor Questionnaire doesn’t cover everything you or your attorney needs answered by LPs while closing your fund or SPV, Custom Questions gives you the ability to easily add additional questions to our questionnaire. ## How does it work? 1\. On the Closings tab, select Closings Documents, then click _Edit Appendix._ 2\. You’ll be directed to a _Get Started_ screen with two options: Option 1: **Enter questions from scratch** If you **have not** previously added questions to another entity, you’ll start here. For each question added, you can designate whether the question be answered by all LPs, just individuals, or just entities. Option 2: **Copy Questions from another fund / SPV** If you **have** previously added questions to another entity, there’s no need to enter these questions again. Click Start copying and select which questions you’d like to copy to your current fund or SPV. 3\. Enter your question and then select how the answer should be provided by your LP (short text input, yes or no, etc.)  There’s no limit to how many questions you can add, or what you want to ask of your LPs. Carta Closings: Custom Questions A Carta Closings: Custom Questions Sound ON 1× Invalid domain for site key. ERROR for site owner: Invalid domain for site key reCAPTCHA 4\. Once your questions are entered you can  preview how they will appear in Carta’s investor questionnaire. After a final review, click _Submit_. Carta Closings: Custom Questions A Carta Closings: Custom Questions Sound ON Invalid domain for site key. ERROR for site owner: Invalid domain for site key reCAPTCHA ## How do I learn more? To learn more about this feature, please reach out to your account manager. Spencer Holton 3 years ago10/12/2022 [**Issuer Transaction Dashboard (Capital Markets)**](https://releasenotes.carta.com/issuer-transaction-dashboard-capital-markets-11IFQQ) ### What's new? Issuers running a secondary transaction, such as a tender offer, through Carta Liquidity on the CartaX ATS can now access on demand real-time seller participation data during a live transaction via the Issuer Transaction Dashboard (“Dashboard”). ### How does it work? Issuers can access their brokerage account online and click on their live transaction, where they will see their Dashboard. The “Participation overview” tab includes three key sections: - Participation breakdown: The pie chart provides a summary of the transaction’s subscription rate by Relationship type. Issuers can quickly see how close the transaction is to being fully subscribed. Relationship type is determined during the transaction’s setup period. - Participant engagement: The bar chart details the number of sellers who (a) have been invited to the transaction, (b) viewed the transaction, and (c) decided to participate by tendering shares. - Relationship summary: The table summarizes the participation level across all Relationship types. Details include the participation rate, shares tendered, and the notional value of tendered shares. The table and charts on this page will update in real-time during the live transaction. The “Transaction overview” tab of the Dashboard will be accessible at the close of the offering period and provides a summary of the transaction, including a breakdown of deposits made into the Issuer’s brokerage account. Issuers will be able to access and download their Trade Confirmation and Transaction Summary reports here as well. ### Save time and gain real-time transaction and participation data on demand with the Issuer Transaction Dashboard The Issuer Transaction Dashboard will: - Give you real-time transaction and participation data on demand during a live transaction; - Provide you with full oversight and enhance your foresight over the transaction’s results related to filling a buy order; and - Make it easier for you to provide your team with updates on a transaction and Relationship type level, preserving the confidentiality of individual seller activity. **Reach out to Carta to get the process started** Ashley Haber 3 years ago10/11/2022 [**Introducing the ability to adjust vesting end dates**](https://releasenotes.carta.com/introducing-the-ability-to-adjust-vesting-end-dates-4pLz3y) ### What's new? You can now adjust the time-based vesting end dates in custom vesting plan templates. ### What's important or valuable about this change? When creating a new custom vesting plan template, you have the flexibility to customize whether vesting occurs on the same day of the month as the start date (no adjustment), on the first day of the month, or on the last day of the month. With this new capability, you can customize time-based vesting schedules to set up more vesting clauses and align vesting dates so interests vest on the same day. ### What do I need to do? When creating a new custom vesting plan template, you can find the end date adjustment option in the Time-based vesting section. You can choose between no adjustment, last day of month, or first day of month. ### How do I learn more or get help? For more information on managing vesting templates, please visit our [support site](https://support.carta.com/s/article/carta-llc-manage-vesting-templates). Des Duggan 3 years ago10/11/2022 [**New search bar in the Document Library**](https://releasenotes.carta.com/new-search-bar-in-the-document-library-4oDaxi) ### What's new? You can now search for documents in the Document Library. ### What's important or valuable about this change? The new search bar allows you to quickly search the library for documents you’ve uploaded, such as acceptance agreements and K-1s. This is especially useful if you have a large volume of documents saved in the library. ### What do I need to do? The search bar has been automatically added to your Document Library: You can also search for documents when adding them to an interest or interest type: ### How do I learn more or get help? For more information on document management, please visit our [support site](https://support.carta.com/s/article/carta-llc-upload-share-documents). Des Duggan 3 years ago10/5/2022 [**Securely store and share documents in Data Rooms**](https://releasenotes.carta.com/securely-store-and-share-documents-in-data-rooms-3TXFle) We’ve introduced a few updates to Data Rooms to provide you with a secure and streamlined way to upload and share documents from within Carta. ### Centralize document storage and sharing workflows in Carta With the new sharing capability, you can: - Centralize your document storage and sharing in Carta - Streamline the investor due diligence experience during fundraising by inviting them to view documents in a dedicated fundraising Data Room - Provide external parties secure access to documents during annual audits or provide quarterly updates to interest holders ### Get started Admins can manage Data Rooms by navigating to the Documents tab. Click “Create data room.” Name your Data Room. Additional settings that will allow you to watermark PDF files and require NDAs are coming soon. Upload documents into the Data Room and organize them in folders. You can share data rooms by clicking the Manage data rooms button and then Manage sharing. Share Data Rooms  with others using their email address. You can also see who you’ve already shared the Data Room with. People you share Data Rooms with will receive an email from Carta inviting them to log-in to their Carta account or create an account to view the Data Room. For more information on Data Rooms, please visit our [support site](https://support.carta.com/s/article/carta-llc-data-rooms). Des Duggan 3 years ago10/3/2022 [**In-app Management Fee Approval**](https://releasenotes.carta.com/in-app-management-fee-approval-1Ej1lu) #### Approve Management Fees in App What's new? You can now review and approve management fees directly from your Carta account. When it’s time to review your management fees for a select period, you will receive an email with a link, as well as a task in Carta, that will take you right to the calculations for review. What’s important or valuable about this change? The new feature will make it easier for you to review and approve management fees without having to email your Fund Administrator. What do I need to do? _**a)** Select "Review and approve management fees" from the email sent to you by Carta (you will receive this email before the start of every quarter - contact your Fund Admin if you have any questions or concerns._ _**b)** Or go to “Notifications” on the sidebar, under the fund you’d like to review management fees for, and click on the task that says "Review Management Fees"._ Select Continue to progress through the workflow. Review your quarterly management fees, and select the expand button on the table to see a breakdown of fees across investors, as well as which investors are new or have side letters. If your fund admin sent a separate file with the fee schedule, you will see a link to the document that will open in a new tab **a)** If the fees and the fee breakdown look correct, select "Approve Fees". **b)** If the fees and/or the fee breakdown look incorrect, select “Request Changes”, specify the changes you’d like to request, and upload a supplementary document, if necessary, before submitting. If you choose to approve fees, select which transfer option best suits you Once submitted, you will see a confirmation _If you have any additional questions, please contact your fund administrator or account manager._ Patrick Driscoll 3 years ago9/30/2022 [**Introducing revamped Financial Reporting**](https://releasenotes.carta.com/introducing-revamped-financial-reporting-378nV6) **What's new?** We launched our revamped Financial Reporting tool. The tool will now allow Carta users to apply cancellation treatments without having to upload an excel sheet. **What’s important or valuable about this change?** We made significant UI and UX improvements. Users can select, drag, and drop to apply cancellation treatments to multiple awards at once. Additionally,  users can apply cancellation treatments to all canceled awards, regardless of the reporting period run. You will still be able to access the same information, including: - Award ID - Award type - Stakeholder name - Cancellation date - Cancellation treatment - Amendment type - Cancellation behavior - Cancellation treatment (editable directly on Carta) - Amendment type (editable directly on Carta) **What do I need to do?** You can access Financial Reporting directly from your Carta account. Simply go to the Compliance tab and select Financial Reporting. You can apply cancellation treatments after you’ve run a report. **How do I learn more or get help?** You can read more about cancellation treatments [here](https://support.carta.com/s/article/financial-reporting-in-app-cancellations) or contact our [support team](mailto:718@carta.com). Samantha Widman 3 years ago9/29/2022 [**Audit Support Document Dashboard**](https://releasenotes.carta.com/audit-support-document-dashboard-1MfvWg) #### Audit Support Document Dashboard Update _What's new?_ Today we’re launching our internal audit support tracker. The Carta Fund Administration team can track which documents are missing for audit purposes. This helps our team provide a smoother end-of-year experience. _What’s important or valuable about this change?_ This will streamline how you engage with your fund admin team, especially as the end of year approaches. Currently we are able to track documents including: - Formations documents (i.e., Certificate of Entity, EIN Confirmation, LPA) - Subscription agreements - W-8 / W-9 - Commitment change documents, including transfers - Investment documents - New investment events for preferred equity, convertible debt, and SAFEs - Bank statements - Legal invoices Your fund administration team can also track partner documents, alerting you to anything that is missing when appropriate. _What do I need to do?_ Continue to submit documents throughout the year. Our fund administration team will alert you if anything is missing, using this new feature. Patrick Driscoll 3 years ago9/26/2022 [**Total Cash Compensation Benchmarks for Sales**](https://releasenotes.carta.com/total-cash-compensation-benchmarks-for-sales-12Pq4U) # What’s new? Carta will now provide total cash compensation benchmarks for the Sales job area. Total cash compensation is defined as base salary plus target variable compensation. 25th, 50th, and 75th percentile data are accessible on the Bands page. In developing total cash compensation benchmarks we made minor adjustments to base salary benchmarks for the Sales job area. No other benchmarks have changed in this update. ## How do I see total cash compensation benchmarks for the Sales job area? You can view Total Cash Compensation benchmarks for the Sales job area by: 1. Visiting the [Bands](https://comp.app.carta.com/bands) page and selecting “Sales” under Area. 2. Select “Total Cash” for compensation type. 3. This will allow you to view total cash compensation bands for levels 1 - 11 for the Sales job area. ## How do I update my plan to use the new benchmarks version? You can update your compensation plan to use the latest benchmark versions either by: 1. Visiting the [Plan](https://comp.app.carta.com/plan) page and clicking on the "Update available" link in the Active Plan window. 1. Navigating to the [Bands](https://comp.app.carta.com/bands) page and clicking on the "Update" bubble in the top left. # What’s next? We will be updating the company and employee scorecards to reflect the addition of total cash compensation benchmarks Jeffrey Glusman 3 years ago9/21/2022 [**Sell Long Shares on Mobile (Public Market)**](https://releasenotes.carta.com/sell-long-shares-on-mobile-public-market-4aYuWY) ### What's new? Employees of public companies supported by Carta can now sell their fully vested common shares issued pursuant to their stock equity plans from anywhere via the Carta mobile app. This release is supported for both iOS and Android mobile phones. ### How does this work? Carta now brings the ability to sell public common shares on mobile. Public employees can now easily: - View their holdings and determine which and how many of them can be sold - See the current market price\* per share - Sell eligible shares while setting order and allocation instructions ### Employees can now manage and sell their public company shares from anywhere via the Carta mobile app This mobile release helps employees: - Easily view which of their shares are eligible for sale and how many - Create sell orders and set instructions via an intuitive interface when they believe the timing is right. ### How do I learn more or get help? For detailed instructions on how to place sell orders via the mobile app, please refer to these support articles for [iOS](https://support.carta.com/s/article/sell-long-shares-ios) and [Android](https://support.carta.com/s/article/sell-long-shares-android) devices. Notes: \\* Market data quotes are delayed (not real time) and should be used for indicative purposes and not necessarily for trading. Brokerage services provided by Carta Securities, LLC, a member of FINRA and SIPC, and subsidiary of Carta. Eric Morelli 3 years ago9/12/2022 [**Variable Programs in Carta Total Comp is now available**](https://releasenotes.carta.com/variable-programs-in-carta-total-comp-is-now-available-1iHA7m) # What's new? ## Variable Compensation Programs We’re excited to share that Variable Compensation Programs is now available to all users. Bring your bonus programs into your Total Compensation workflow Eliminate your manual bonus processes, create better alignment amongst your sales organization, and ensure compliance by entering your commission and bonus programs into your compensation plan within Carta Total Comp. ### Maintain your bottom line with a well-organized variable comp program Variable Compensation Programs adds to our compensation management capabilities. With VCP you can: - Create variable compensation programs for your organization. - Enter variable compensation programs based on a  flat rate or percentage of base. - Assign the relevant variable program(s) to an employee. - Automatically calculate an employee’s variable compensation based on the parameters of their assigned VCP(s). ### How do I create a Variable Compensation Program? You can get started with VCP in seconds by: 1. Navigate to the Plan page. 2. Variable Compensation Programs can be found on the bottom half of the page. 3. Click Create variable compensation program  to be guided through the process of creating your first variable compensation program. ### How do I learn more or get help? Visit the resource center for more details [Variable Compensation Programs (VCPs)](https://support.carta.com/s/article/variable-compensation-programs) Have additional questions about VCP? Reach out to your Account Manager or contact our [Support Team](https://support.carta.com/s/article/contact-us). Jeffrey Glusman 3 years ago9/6/2022 [**Introducing Luxembourg SPVs**](https://releasenotes.carta.com/introducing-luxembourg-spvs-TIkzC) **What's new?** You can now fund the next global deal from anywhere in the world. We are introducing Luxembourg SPVs by Vauban from Carta—the easiest and most cost-effective way to launch an SPV in Europe. Following the release the [first fully digital Luxembourg venture fund product](https://vauban.io/post/luxembourg-fund), we’ve expanded our offering to service SPVs. Our end-to-end platform handles everything from SPV formation and banking to LP onboarding and administration. **How it works?** Login to the Vauban Platform to your universe to create a new deal. Click on + New Deal in the top right-hand corner. **Step 2:** Choose Luxembourg as your SPV Jurisdiction! **Step 3:** Set up your SPVs by providing the necessary information. We take care of the legal generation, banking, investor onboarding, and closing. **Raise internationally** Luxembourg SPVs are built for international investors. Fund global deals and onboard LPs across 72 countries and 135 currencies. **Reduce costs** Luxembourg is home to venture capital and private equity in Europe, but the costs of setting up an SPV can be as high as $300,000. With Vauban from Carta, you can spin up an SPV for a fraction of the cost. **Save time** Our end-to-end platform allows you to skip the time-consuming regulatory and legal demands of raising in Europe. This will enable you to focus on finding unicorns and building your investor base. **What do I need to do?** To learn more about Luxembourg SPVs, click [here](http://vauban.io/post/luxembourg-spv). If you’re interested in setting up a Luxembourg SPV, please reach out to [hello@vauban.io](mailto:hello@vauban.io). Seif Salama