3 years ago2/28/2023 [**Carta Deal Pro Forma**](https://releasenotes.carta.com/carta-deal-pro-forma-3vYyUU) **What’s new?** With Carta's new Deal pro forma tool you can generate an accurate deal-ready pro forma model with iterative calculations in just a few minutes. Users will be able to create a deal-ready pro forma that takes into account all the nuances of the model and handles the complicated conversion math for SAFEs and Notes. **What's important or valuable about this?** Carta automates the process of building a pro forma so that it can be completed on the Carta platform within minutes. Carta Deal Proforma eliminates unnecessary iterative and redundant work. With the new tool you can increase the capacity for companies to be more versatile with their modeling as it’s easy to make incremental changes instead of starting from scratch. Starting today you can: - Build a deal pro forma in a few minutes instead of hours and view results instantly - Share or view on Carta or exported as an excel file. - Use your latest cap table information for real-time changes to your pro forma. **What do I need to do?** Carta Deal Pro Forma will be available to all Carta customers in their Scenario Modeling tab. **How does it work?** Under Fundraising > Scenario Modeling > Pro forma tab,  you can see create a pro forma and generate a full view of your next round and export a deal-ready pro forma cap table. You can: - Add new round terms - Add new money investors for this round, including consideration for investors with pro rate. - Add convertibles converting in this new round or uncheck convertibles to be excluded from this pro forma. - Define the share classes for the financing - Include Investor Pro Rata Rights, including investors with convertible Pro Rata Rights - Add advanced terms such as conversion methods, anticipated option pool increase, specification of authorized shares and common stock buffers - View and share in app or export to excel Have a question or feedback? Visit our [support site.](https://support.carta.com/s/article/deal-pro-forma-overview) Pro Forma :: 2023.02.27 Click for sound . Shubhi Nigam 3 years ago2/27/2023 [**Streamline document sharing**](https://releasenotes.carta.com/streamline-document-sharing-DIteo) ### What's new? A new column in the Document Library shows you if a document has been shared or not and who it has been shared with. ### What's important or valuable about this change? These enhancements will help you streamline document sharing workflows, such as sharing a large volume of Form K-1s with interest holders ahead of tax season. Easily keep track of which documents have been shared with interest holders and which ones have not. You can also filter the Document Library by sharing status which can help you quickly see which documents still need to be shared. ### What do I need to do? See the new ‘Shared with’ column in the Documents Library. You can filter down to ‘Shared documents’ or ‘Not shared documents’ by clicking on the filtering menu in the Documents Library search bar. ### How do I learn more or get help? For more information on the Documents Library and distributing Form K-1s, visit our [support site](https://support.carta.com/s/article/k1-distribution). Des Duggan 3 years ago2/27/2023 [**Enhanced visibility into transferred interests**](https://releasenotes.carta.com/enhanced-visibility-into-transferred-interests-uDj4k) ### What's new? When you transfer an interest in Carta, you can now see all the information related to the transaction in the event details. ### What's important or valuable about this change? Gain complete visibility into every transfer transaction and see clearly in the event details if an interest was issued from a transfer as opposed to a new issuance on the cap table. Track changes to the interest during the transaction and the issuance details, including where the interest was transferred from, to who, quantity, price, and total amount paid for the transfer. ### What do I need to do? You can see the details of each transfer transaction in the event details: ### How do I learn more or get help? For more information on transferring interests, visit our [support site](https://support.carta.com/s/article/llc-transfer-units). Des Duggan 3 years ago2/27/2023 [**View interest holder details and track employee IDs**](https://releasenotes.carta.com/view-interest-holder-details-and-track-employee-ids-tuUy4) ### What's new? You can now get a comprehensive view of interest holders, including demographic information, interests issued to them, and documents shared with them. Additionally, you can now track employee IDs in Carta. ### What's important or valuable about this change? Enhancements to the interest holder details provide a single source of truth in Carta for who each interest holder is, what interests they hold, and which documents have been shared with them. When you record an Employee  ID with each interest holder in Carta, you can use it as a unique identifier to streamline reporting across Carta and other systems such as payroll. ### What do I need to do? To get a comprehensive view of an interest holder you can click on any row of the interest holder ledger. This will open a page with various tabs to view the holder details, view all interests that have been issued to them, and view all documents that have been shared with them. To track and report on employee IDs, edit an interest holder to add their employee ID. Shortly, these employee IDs will also be pulled into our excel based reporting. View the interest holder demographics in the Summary tab of interest holder details. View the interests issued to this holder in the Holdings tab. View the documents associated with these interests and shared with this holder in the Documents tab. ### How do I learn more or get help? For more information, visit our [support site](https://support.carta.com/s/article/llc-manage-holders). Des Duggan 3 years ago2/27/2023 [**New time series graphs show changes in Outstanding Value estimates**](https://releasenotes.carta.com/new-time-series-graphs-show-changes-in-outstanding-value-estimates-re7vy) ### What's new? For each Outstanding Value estimate, a new time series graph shows how the value of the interest has changed over time. ### What's important or valuable about this change? Interest holders now have a visual that represents the change in Outstanding Value and can help them understand the value of their equity and future potential. ### What do I need to do? Admin users can enable Estimated Values, including Outstanding Value, when creating a new interest type or editing an existing one. Once enabled, the Outstanding Value estimate details will include a time series graph to show the change in value. ### How do I learn more or get help? For more information on Estimated Values, see our support articles for [Admins](https://support.carta.com/s/article/llc-estimated-value-add) and [Interest Holders](https://support.carta.com/s/article/llc-estimated-value-view). Des Duggan 3 years ago2/27/2023 [**New Admin user fields**](https://releasenotes.carta.com/new-admin-user-fields-q5IZi) ### What's new? When inviting a new Admin user to your Carta account, you can now capture their job title and company name. The Team & Security page allows you to add new users, edit or remove existing ones, and keep track of who has access. ### What's important or valuable about this change? The new capabilities provide complete visibility into who has access to your Carta account and the type of access they have. This is especially important if you have various internal and external users that need access to your cap table data in Carta, such as law firms or deal teams and back-office admins at Private Equity firms. ### What do I need to do? Visit the Team & Security page to add new users, edit or remove existing ones, and keep track of who has access. ### When inviting a new user to your Carta account, select from a pre-set list of job titles or choose Other to input a different job title that is not on the list. You can also add the company name here. ### How do I learn more or get help? For more information, visit our [support site](https://support.carta.com/s/article/carta-llc-add-company-admins). Des Duggan 3 years ago2/23/2023 [**Quarterly refresh of salary, total cash, and equity benchmarks**](https://releasenotes.carta.com/quarterly-refresh-of-salary-total-cash-and-equity-benchmarks-48zbsA) ## What’s new? ### Benchmarks version 2023-23-02 #### What changes can I expect from these benchmarks? We have updated salary, total cash, and equity benchmarks for all job areas and specializations. Salary and total cash compensation benchmark changes in this release reflect a slowing market for talent among startups, falling slightly since last quarter (approximately 1% overall). As in previous updates, specialization level data continues to be more volatile than the broader sample, as sample sizes for these roles are smaller than job area level data. For example, while Web Engineering and Quality Assurance saw large increases last quarter, this quarter’s data shows decreases in those benchmarks. Equity benchmarks have decreased approximately 15%, consistent with the decreases that began last quarter as a result of the slowing market. Lower benchmarks cut across most roles and levels, though executive equity grants (particularly at early to mid-stage companies) dropped slightly less, and even increased in some cases. #### What were the largest areas of movement from these benchmarks? Salary - Product, Support, and Operations roles saw the largest increases, approximately 1-2% versus last quarter. Sales, Administrative, and Information Technology roles saw the largest decreases ranging from 3-5%. Equity - Legal, Support, and Human Resources roles saw the largest decreases. Decreases in Engineering, IT, Finance, and Operations were less pronounced than the overall sample #### 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. 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. ## What’s next? Carta Total Compensation is working to bring International market targets to the Employee and Company Scorecards, as well as developing benchmarks for new specializations. 3 years ago2/10/2023 [**Improved Employee Matching**](https://releasenotes.carta.com/improved-employee-matching-1AIPTy) ### What’s new? This release improves the workflow for matching employees with stakeholders on Carta. Employees with the same name and email as the stakeholder will automatically match, saving their employee ID and thereby linking the stakeholder with the employee record. The improved workflow guides you through reviewing all other employee matches. ### How does it work? For the reviewed matches, you can now ignore, to be reminded next time, or to choose a different stakeholder. These decisions will be saved and will not need to be rematched when running the employee matching workflow. You can now review all matches and update the decisions later. ### What do I need to do? To get started, you will need to connect your external data to Carta either through connecting your HRIS system, uploading a spreadsheet, or pasting the information into Carta directly. ### With your external data connected, Carta will attempt to automatically match your employees. From there you review suggested matches, deciding to approve the suggestion, ignore it, remind me later, or manually choosing a different person. If there are any employees from external data that don’t match at all to Carta stakeholders, you can choose to ignore them or manually choose a person to match. The workflow is then completed and all matches can be reviewed. ### How do I learn more? For more information on Employee Matching, please read our [support article](https://support.carta.com/s/article/stakeholder-details-reconciliation). 3 years ago2/7/2023 [**Improved Capital Call and Distribution Notices**](https://releasenotes.carta.com/improved-capital-call-and-distribution-notices-28M9pe) What's new? GPs can now include a detailed breakdown of capital in their capital call and distribution notices to maintain transparency with their investors. What’s important or valuable about this change? Institutional investors prefer to see a breakdown of capital versus a lump sum for internal reporting purposes. We make it easy to provide inventors that information: Capital calls: Specify what dollar amount or percentage of the amount called is going towards investments, expenses, management fees, and more. Distributions: Break down the return by dollar amount or percentage into capital, realized gains, or income. What do I need to do? On the _Overview_ tab of your portal, select the entity, then navigate to the _Capital Activity_ tab. Click _Request Capital Call_ and follow the steps. Specify the breakdown of capital in the _Notes for your Fund Administrator_ section. For distributions, click _Request Distribution_ and complete the steps above. Once submitted, it will appear on the capital call or distribution notice for your review and approval. How do I learn more or get help? Have additional questions about Carta’s capital activity? Reach out to your account manager or [request a demo](/content/requestdemo/?ir=inv-overview-hero1/index.html) today. Milena Wall 3 years ago2/7/2023 [**Download All Audit Docs with One Click**](https://releasenotes.carta.com/download-all-audit-docs-with-one-click-24ezkc) What's new? **A smoother audit season.** Auditors can now bulk download all fund documents from Carta in a single click. We’ve bundled all fund audit documents in one place so auditors no longer have to spend time downloading multiple documents from multiple places. What do I need to do? Navigate to the _Reports & Documents_ tab of your portal, then select _Audit_. Documents are bundled into two packages per entity: Package 1: Formation documents, bank statements, investment documents, invoices & calculations, and partner commitment changes and transfers Package 2: Partner subscription agreements and side letters, capital call notices, and distribution notices Select the package and click _Download_. Carta Partners: Bulk Audit Document Download A Carta Partners: Bulk Audit Document Download How do I learn more or get help? Have additional questions about how Carta can support you during your fund audit? Reach out to your account manager or [talk to one of our representatives](/content/requestdemo/?ir=inv-overview-hero1/index.html) today. Kathleen Meil 3 years ago2/7/2023 [**Improved Investment Valuation Updates**](https://releasenotes.carta.com/improved-investment-valuation-updates-21XMhG) What's new? GPs can now easily submit valuation updates where positions on an investment have different values or prices per share. What’s important or valuable about this change? We’ve improved our in-app valuation updates to be able to handle advanced scenarios, including submitting an update where each asset has a different price per share. This is common for GPs who have invested in the same investment across multiple rounds. What do I need to do? Navigate to the _Activity_ tab of your portal and select _Valuation Update_. Then select the company whose valuation you want to update. Select _Spreadsheet View_ and enter the date for when the valuation took place. Enter the new value per share to see the gain or loss across all positions. Then review your valuation update and submit. How do I learn more or get help? Have additional questions about Carta’s valuation updates? Reach out to your account manager or [talk to one of our representatives](/content/requestdemo/?ir=inv-overview-hero1/index.html) today. Milena Wall 3 years ago2/6/2023 [**Hire internationally using Carta Offer Letters**](https://releasenotes.carta.com/hire-internationally-using-carta-offer-letters-EO7gk) ### What’s new Total Comp customers can now send Offer Letters in 140 international currencies. Candidates will be able to view their Offer Letter in their local currency. ### Get started How do I send an Offer Letter in a non-USD currency? 1. Navigate to the Current Offers page and click “Create Offer.” 2. In the “Compensation” section, select the correct currency for the candidate’s Offer Letter. Companies are still able to offer multiple packages for international offers. 3\. Enter the Base salary in either the local currency or USD. 4\. The Equity value can be entered in USD only. However, you will be able to see this displayed in the local currency selected as well when you preview the Offer Letter before sending it to the candidate. 5\. Candidates will be able to view their Offer Letter in the selected local currency.  This includes their benefits, Offer Summary, and the Compensation Projection chart. ### Learn more Visit the [Carta Offer Letters](https://support.carta.com/s/article/offer-letter-overview) resource center for more details. Have additional questions about Carta Offer Letters? Reach out to your Account Manager or contact our [Support Team](https://support.carta.com/s/article/contact-us). 3 years ago2/3/2023 [**Share Class Manager Improvements**](https://releasenotes.carta.com/share-class-manager-improvements-2Mvrwc) **What’s new?** The Share Class Manager page will be updated this coming Monday, February 6th to make it easier to navigate, and provide a consistent experience when you are updating AOI terms. We no longer display a "Link AOI" button at the top of the page. The new flow is designed to be simple and intuitive, with the "Manage Share Class" button giving you access to update existing share classes, add new share classes, and link Articles of Incorporation. **What do I need to do?** Navigate to _Capitalization > Manage share classes._ Under Manage share classes, there will be three options: - Create new share class - Edit existing share classes - Add historical AOIs **Where can I learn more?** Visit the Share Class Manager support article or contact us via the In-App Help Center. Will WD 3 years ago2/2/2023 [**GP Activity Tab**](https://releasenotes.carta.com/gp-activity-tab-P17QA) What's new? We’re introducing a new way for Carta GPs to have greater visibility into their relationship with their fund administrator. What’s important or valuable about this change? GPs can now submit, view, and track the progress of their fund admins tasks, like sending capital calls or preparing financials. Fund managers will receive a notification for any outstanding tasks or if there’s an action required. GPs can use the Activity tab to stay up to date on critical fund events, like reviewing financials or management fees. What do I need to do? On the _Overview_ tab of your portal, navigate to the _Activity_ tab. You can view and complete tasks assigned to you by your fund administrator. Click Details to view additional information about the task like the date it was created, progress, and status. Scroll down to see what your fund admins are working on. Click _Details_ to view additional information about their task like which fund admin is working on the task and the progress. Easily request a capital call or submit a valuation update. Once submitted, it will appear in the fund admin section for you to track to completion. Select _Task History_ to view an archive of all past tasks completed by you and your fund administrator. This feature currently services capital calls, valuation updates, SPV formations, and reviewing and approving management fees, SOIs, and financials. We will be making further improvements to the Activity tab over the coming weeks including the ability to request a wire, submit an expense, and message with your fund admin. How do I learn more or get help? Have additional questions about the Activity tab? Reach out to your account manager or [request a demo](/content/requestdemo/?ir=inv-overview-hero1/index.html) today. Milena Wall 3 years ago2/2/2023 [**Private Dilution Report (Beta)**](https://releasenotes.carta.com/private-dilution-report-beta-5Bj2g) **What's new?** Private dilution reports can be run on Carta. **How does it work?** Private company administrators will be able to run a dilution report that will provide them with diluted shares, average trading prices, and supporting tabs to back out the incremental shares tab. In this initial release, the following inputs will be available: 1. Average and weighted average trading prices, including the ability to add Fair Market Values on weekends and holidays 2. Diluted shares 3. Supporting tabs to help users recalculate their incremental shares tab In the future, Carta will also support: - Pre stock split values in dilution reports - Weighted average shares outstanding (WASO) **What do I need to do to get started?** To participate in the beta and receive early access to this report, please reach out to us at [718@carta.com](mailto:718@carta.com). Samantha Widman 3 years ago1/31/2023 [**International Bands and Total Cash Compensation Data for Customer Success**](https://releasenotes.carta.com/international-bands-and-total-cash-compensation-data-for-customer-success-46fmSI) ## What’s new? We have two exciting updates now available in Carta Total Comp. You can now use: - International salary and equity adjustments on the Plan and Bands pages - Total cash compensation benchmarks for the Customer Success job area ### International adjustments Users will now be able to view salary and equity benchmarks on the Bands page based on adjustments from our US benchmarks. In this initial release, users will have access to adjustments for 44 countries. #### How do I see international adjustments? You can view international adjustments by: 1. Visiting the [Plan](https://comp.app.carta.com/plan) page and scrolling down to International Market Adjustments. This section will show you suggested adjustments for salary and equity across 45 countries. These suggested Adjustments are based on Carta data and our knowledge of local market practices. 2. You can override these suggested adjustments to better match your company’s comp philosophy. Click into them to edit, and save your new adjustment by clicking the check box. 3. Visit the [Bands](https://comp.app.carta.com/bands) page to view the adjusted salary & equity benchmarks. Find any of the 45 countries by selecting it from the Location dropdown. ### Total cash compensation benchmarks for Customer Success Carta will now provide total cash compensation benchmarks for the Customer Success 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. No other benchmarks have changed in this update. #### How do I see total cash compensation benchmarks for the Customer Success job area? You can view Total Cash Compensation benchmarks for the Customer Success job area by: 1. Visiting the [Bands](https://comp.app.carta.com/bands) page and selecting “Customer Success” 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 Customer Success 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. 2. Navigating to the [Bands](https://comp.app.carta.com/bands) page and clicking on "Update" in the top left. ## Learn more Have additional questions? Reach out to your Account Manager or contact our Support Team. ## What’s next? Carta Total Comp is working on updated salary and equity benchmarks for all job areas and specializations. 3 years ago1/26/2023 [**Introducing Agreement Execution for issuing new interests**](https://releasenotes.carta.com/introducing-agreement-execution-for-issuing-new-interests-4fjqQE) ### What's new? You can now generate fully executed legal agreements when issuing interests with Carta LLC. ### What's important or valuable about this change? With the new Agreement Execution functionality, you can simplify the end-to-end issuance workflow, increase efficiency, and auditability: - Set up interest agreement templates and automatically populate them with data from Carta, such as each interest holder's information, interest type, number of units, and more - Send these interest agreements to the holder to collect their signature directly on the PDF - Save the fully executed agreement in Carta with the interest so you and the interest holder can access it for audits, personal finance, or tax use cases ### What do I need to do? To get started with Agreement Execution, you will need to first work with our team to set up a new interest agreement template. Get started by navigating to **Documents** \> **Templates**. Request a new template by clicking on the button on this page. You need to provide us with the following items to set up a new template: - An interest agreement template document in .docx format - Include a line for where the holder should sign - Include a pre-populated company signature, if applicable (Carta does not populate any signatures besides that of the holder) - A list of fields for Carta to auto-populate in the document - Today, we can populate any issuance and holder data and certain data relevant to the account and entity Once your template has been set up, Carta Staff will notify you and you can use it to issue new interests. Watch our [demo video](https://carta.wistia.com/medias/2ew8irzvx9) to learn more. ### How do I learn more or get help? For more information on interest agreement templates, please read our [support article](https://support.carta.com/s/article/llc-template-request). Des Duggan 3 years ago1/23/2023 [**Set up and send your first Offer Letter with a few clicks**](https://releasenotes.carta.com/set-up-and-send-your-first-offer-letter-with-a-few-clicks-25kdm8) ### What’s new? We're introducing an easy way for new Carta Total Comp users to send their first offer letter in just a few clicks. With our new guided onboarding experience, you can get the most out of CTC immediately. The setup guide will be marked as complete for users with Offer Letters already set up. ### Get started You must have "Full Admin" permissions to set up Offer Letters. 1. Navigate to the Offer Letters page and click “Get started.” 2. Complete the guided onboarding experience to personalize your Offer Letter for your company. 3. Once you complete your setup, all Admins, Area Leads, and Recruiters will be able to draft, preview, and send Offer Letters. ### Learn more Visit the [Carta Offer Letters](https://support.carta.com/s/article/offer-letter-overview) resource center for more details. If you have additional questions about Offer Letters? Please reach out to your Account Manager or contact our [Support Team](https://support.carta.com/s/article/contact-us). 3 years ago1/20/2023 [**Automated Refresh Vesting Schedules**](https://releasenotes.carta.com/automated-refresh-vesting-schedules-4r5MGc) **What's new?** We are introducing automated refresh vesting schedules in-app. Now, all private companies have a template ready for refresh vesting, a schedule that mimics [Carta's equity strategy of boxcar grants](https://henrysward.medium.com/cartas-equity-refresh-program-32f5fa5b0429). **How does it work?** On the vesting schedule templates page (Securities > Templates > Vesting Schedules), you can edit the Refresh Vesting to select when grants under this schedule should start vesting. See detailed instructions to manage vesting templates [here](https://support.carta.com/s/article/vesting-schedule-templates). You will have options from 1 to 4 years after the issue date. You are all set! Now, you can start adding, modifying or applying the Refresh Vesting when issuing new securities, and we will automatically calculate and input the vesting start date for you, based on the criteria selected on the template. **Where can I learn more?** Visit this [support article](https://support.carta.com/s/article/vesting-schedule-templates) or contact us via the In-App Help Center. 3 years ago1/20/2023 [**Share Class Conversions (Beta)**](https://releasenotes.carta.com/share-class-conversions-beta-47MvJK) **What's new?** Share Class Conversions are now self-serve on Carta. **What’s important about this change?** Skip contacting Support for share class conversions. With our new self-service tool, your law firm will be able to complete this for you in minutes. Select individual shares, or convert entire share classes when needed. Once the shares classes are converted, Carta handles canceling the existing certificates, issuing new stock certificates, and guiding signatories and security holders through the process of executing signatures. **What do I need to do?** This feature is currently in beta with law firms and we are releasing it to more users on a rolling basis. By April 2023, all company legal admins will have access to in-app share class conversions too. If you need to perform a share class conversion, reach out to your outside counsel. If you don’t have a law firm, contact Carta Support using the In-App Help Center. **How do I learn more or get help?** Visit this [support article](https://support.carta.com/s/article/share-class-conversion-tool) to learn more about the step-by-step process. Vrushali Paunikar 3 years ago1/9/2023 [**Share Offer Letters via a link**](https://releasenotes.carta.com/share-offer-letters-via-a-link-4kfLgs) ### What’s new CTC customers can now send Offer Letters to candidates with a simple URL link if they are not using Carta’s candidate acceptance flow. This will allow companies to send Offer Letters to candidates via an existing email thread with a candidate or additional signatory tool of their choosing. ### Get started How do I send an offer letter via link? 1. Navigate to the Offer Letters page 2. Draft, preview, and save an offer letter by clicking “Create new offer”. 3\. Once you have saved your offer letter, click “Copy link”, the URL can be pasted and shared to grant access to the published Offer Letter. ### Learn more Visit the [Carta Offer Letters](https://support.carta.com/s/article/offer-letter-overview) resource center for more details. 3 years ago1/4/2023 [**Send an Offer Letter directly from the Bands page**](https://releasenotes.carta.com/send-an-offer-letter-directly-from-the-bands-page-17yhag) ### What’s new All CTC customers can now save time by seamlessly previewing and sending Offer Letters straight from the Bands tab. - Companies who have configured the required settings for Offer Letters send Offer Letters faster with pre-filled job and compensation package details . - For companies who have not configured Offer Letter settings, a preview of an Offer Letter with a recommended compensation package will be provided. Admins can always quickly configure Offer Letters settings in the Settings tab. ### Get started How do I send an Offer Letter from the Bands page? Here’s how to get started: _1\. Navigate to the Bands page._ _2\. Click on the Job Breakdown for a particular Role._ _3\. Click “Create offer” to be shown a preview offer letter with a recommended compensation package based on your company’s Plan information, specific for that Role._ _4\. Companies who have already configured the required Offer Letter settings will be redirected to the “Create New Offer” page with pre-filled salary and Role information._ _Companies who have not configured the required Offer Letter settings will be shown a preview of an Offer Letter for the specific Role. Admins can click “Send your first offer” to be guided on how to configure the required Offer Letter settings before sending your company’s first Carta Offer Letter._ ### Learn more Visit the [Carta Offer Letters](https://support.carta.com/s/article/offer-letter-overview) resource center for more details. Nikhita Gupta 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. ### 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. 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. 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