a year ago11/20/2024 [**Corporate Transparency Act (CTA) Beneficial Ownership Information Report (BOIR) for Fund Managers**](https://releasenotes.carta.com/corporate-transparency-act-cta-beneficial-ownership-information-report-boir-for-fund-managers-1gumUE) ## What’s new? Fund Managers can now use Carta to complete their CTA BOIR submissions to FinCEN with our CTA reporting tool. ## What’s important about this change? The Corporate Transparency Act (CTA) requires certain business entities to submit a beneficial ownership information report (BOIR) to FinCEN. We’ve made it easy to submit this report with our CTA reporting tool. Our tool uses information already on Carta to pre-populate required beneficial ownership information, saving fund managers time when filing. Plus, fund managers can rely on our reporting tool to understand the reporting deadline for each of their entities. ## How does it work? Fund Managers can go to the CTA Reporting tab within the Tools & Services navigation menu to access Carta’s CTA feature. Upon navigating to CTA Reporting, the Fund Manager can select the entity they are filing a BOIR for. If the reporting entity is not exempt, they should proceed with filling out the three sections of the form: Company Information, Beneficial Owners, and Company Applicants. The Company Information is prefilled for the entity including the legal entity name, US business address, and tax identification number. Review and confirm that all prefilled information is current and accurate. Each Beneficial Owner’s name and address  will be prefilled, if the information is available, for any partner within the entity account who is an individual that has subscribed for 25% or more of the entity’s total commitments. Review details and Beneficial Owner status for all prefilled information to confirm it is current and accurate, or make any corrections needed. Control persons and indirect owners of 25% or more are not prefilled, so you will also need to add any control persons or individuals who indirectly own 25% or more as additional Beneficial Owners. The Company Applicants section is only required for entities incorporated or formed on or after January 1, 2024. Reporting entities that fall into this category will need to provide the company applicant information. Last, review the information and submit to FinCEN. You’ll get a confirmation screen to let you know the report has been filed. Carta does not determine the exemption status of the reporting entity. Confirm with your legal team on your entity’s exemption status. For more information on FinCEN exemptions, refer to the [FinCEN BOIR frequently asked questions](https://www.fincen.gov/boi-faqs#C_2). ## How do I learn more? For more information on the new CTA Reporting feature, reach out to your Account Director. For additional information on the new FinCEN CTA requirement, read our blog post on [How Corporate Transparency Act impacts private funds](/content/learn/private-funds/regulations/corporate-transparency-act/index.html). Samantha Widman a year ago11/6/2024 [**Notional equity value benchmarks**](https://releasenotes.carta.com/notional-equity-value-benchmarks-2dvPLW) ## What’s new? Up until now, all equity benchmarks in Carta Total Compensation have been based on fully diluted ownership percentage. While it’s common practice for most early to mid-stage startups to base their equity grants on percentage ownership, later stage companies tend to denote their equity grants in dollar values. To better serve those companies, equity benchmarks based on notional value are now available on the Benchmarks page. These new benchmarks are available for the $500 million - $1 billion and Greater than $1 billion post-money valuation peer groups. These benchmarks reflect 4-year new hire grants calculated based on number of shares multiplied by preferred price on the date of grant. ## How can I access the new notional value benchmarks? 1. Navigate to the Benchmarks page in Carta Total Compensation 2. After selecting either the $500 million - $1 billion or Above $1 billion peer group, in the Equity Unit dropdown menu, select “Notional Value” For this initial release, these benchmarks are only available on the Benchmarks page. We will be integrating notional value benchmarks into other parts of Carta Total Compensation in the coming months. ## Questions? If you have any questions about these new benchmarks, please reach out to your Customer Success Manager. a year ago10/25/2024 [**New Partners Dashboard**](https://releasenotes.carta.com/new-partners-dashboard-1hAQ5G) ## **What’s new?** We’ve launched a new Partners Dashboard that gives Fund Administration customers firm-level visibility into their LP relationships. You can now group your LP investments, assign them custom tags, and see consolidated performance metrics (TVPI, IRR, DPI, etc…) and investment data (commitment amount, capital activity details, NAV, etc…) across all your LPs in your firm. ## **How does it work?** **Access the New Partners Dashboard:** The dashboard is a brand new page that can be  accessed via the Partners tab on your left-hand navigation bar in Carta. Click [here](https://app.arcade.software/share/sIxpFIxHzeCImWSmGElq) for a walkthrough. . **LP Grouping:** Organize your LP investments into custom groups to mirror how your firm views LP relationships. Learn how to use groupings [here](https://app.arcade.software/share/VPouoMeroOTIP7jzCe6B). **Tagging:** Customize your view by creating custom tags for LPs such as LP type, geography, or any custom tag your team uses to categorize LPs. You’ll also be able to filter based on tags and see consolidated LP metrics across your tags. Learn how to use tagging [here](https://app.arcade.software/share/MtBM1NA3yI7U60ZuTeJG). **Custom Views:** Apply filters based on tags or entities, add/remove columns of data, and save your custom view(s) so you can quickly access specific filtered dashboards of data you care about. You can also export these filtered views to excel. **Partner Detail Pages:** Click into each LP group to see the details of each LP investment within that group. On this page we show various levels of aggregated metrics as well: by the entire LP group, by each of the LPs legal entities, and by entity they’ve invested in for scenarios where they’ve invested in one of your entities through multiple legal entities. ## **How do I learn more?** Here’s a [support article](https://support.carta.com/s/article/lp-dashboard) and some recorded walkthroughs for an [overview of the Partners Dashboard](https://app.arcade.software/share/sIxpFIxHzeCImWSmGElq), instructions on how [LP Grouping](https://app.arcade.software/share/VPouoMeroOTIP7jzCe6B) works, and how to set up [LP Tagging](https://app.arcade.software/share/MtBM1NA3yI7U60ZuTeJG). If you have any questions or feedback, reach out to your dedicated Account Director to schedule a call. Spencer Holton a year ago10/15/2024 [**New navigation in Carta Fund Administration**](https://releasenotes.carta.com/new-navigation-in-carta-fund-administration-1nfZxS) We’ve made it easier to find the tools and information you need in your Carta Fund Administration software.  So far, we have rolled navigation changes out to a small group of customers and will continue the roll out through October.  Here’s an overview of the most important changes: **We've deprecated the Overview tab so you can easily find Entities, Investments and Partners.** - Subtabs such as fund performance, capital activity, statements, accounting, etc  (previously located in the Overview tab) will now be found in the Entities tab. - Entities, Investments, and Partners tabs will now be found in the left-hand navigation menu. - The left-hand navigation menu will be reordered with key tabs at the top and add-ons, settings, and tools in the section below. **The Activity tab is now the Dashboard** - The Activity tab will now be named “Dashboard” and will be your new homepage when you login. **We’ve improved  Entity Selection.** - A persistent "choose entity" selector will be at the top right of the Dashboard. This way, when you select an entity, you can navigate to different subtabs while keeping the selected entity. [Button Text](https://releasenotes.carta.com/date/2024/11) Kelly Kipkalov a year ago10/4/2024 [**Investor cap table access experience**](https://releasenotes.carta.com/investor-cap-table-access-experience-1xsJ56) Cap table access is essential for understanding your investment portfolio, but companies often wait for a request before granting it. Our goal is to equip investors and portfolio companies with the tools to request and grant access securely. With our latest release, investment firms now have robust tools to manage cap table requests, ask for the specific data levels they need, and follow up with companies to secure access. **What’s new?** We’re making it easier for investment firms to request and manage cap table access from their portfolio companies. : - See how many portfolio companies are on Carta, your access status, and any open requests. Sort and filter by access level, company name, date, holdings, and status. - Send bulk or individual requests and reminders for cap table access in two clicks. - Export reports with access levels, request details, company status, and contact info for investor questions. **Who is this available for?** All users with “admin” permission in your investment firm. **How do I use it?** To access the page, navigate to your investment firm account, click on "Tools and services" in your sidebar, and select "Cap table access." You may also receive a prompt from the Investments Overview page to request access. **Anything else I need to know?** If you are not sure what levels you will need access to, Advanced is the most common level we see granted for investors. Portfolio companies can always choose to respond with Basic access, if they do not want to grant advanced. If there are additional enhancements you would like to see here, you can provide feedback via [Carta Community](https://community.carta.com/participate/productideas). Will WD a year ago10/3/2024 [**Introducing Carta’s new priced round workflow: Deal Closings**](https://releasenotes.carta.com/introducing-carta-s-new-priced-round-workflow-deal-closings-brsA0) **What’s new** The new fundraising feature helps founders, working collaboratively with their law firm and investors, close a priced round end to end on Carta. It provides a workflow and centralized hub that facilitates administrative tasks related to closing a deal. Founders and their law firm will have a dashboard that provides - real-time fundraising benchmarks - a snapshot of the status of their round letting them run closings-related tasks such as generating signature paperwork, building pro formas and managing the round - ability to track signature status, send reminders and view the wire status Investors will also get their own convenient dashboard to view the deal timeline, sign paperwork, view deal docs and wire instructions. And after you complete a priced round, we automatically update your startup’s cap table to reflect the new investment, and issue certificates to investors. **Why this matters** Today running a priced round is complex and incredibly manual. A deal is closed mostly offline using a mix of spreadsheets, emails, phone calls, and signature applications to complete the work. There are also a number of moving parts such as signature page drafting, collecting signature blocks, sending out documents and reminders to investors, collecting signature pages from convertibles, tracking, and updating status, confirming wires etc. It requires a great deal of manual work by the law firm, and lacks transparency for founders and investors. Not to mention the high cost of priced rounds for all parties involved. **How can I access it** You can access the Deal Closings feature by navigating to the “Raise funds” navigation menu item if you’re on Carta’s free plan. Or navigate to “Fundraise”-> “Priced rounds” navigation item if you’re a paid Carta customer. Read more on how to use this feature [here](https://support.carta.com/s/article/deal-closings) Shubhi Nigam a year ago10/3/2024 [**Tender Offer Issuer Dashboard**](https://releasenotes.carta.com/tender-offer-issuer-dashboard-1dTTG) **What’s new?** Carta has released a new tender offer issuer dashboard for company administrators, exposing the most critical actions and information during periods when sellers are placing orders. This dashboard highlights the following information: - Aggregate sell orders placed relative to buyer demand: emphasizes situations where sell orders exceed quantities to be purchased and must be reduced algorithmically for settlement - Rate at which eligible sellers across customizable stakeholder categories view the offering and place orders - Sell orders placed over time, highlighting spikes in trade activity or large order cancellations - Better organization and management of in app seller data **How do I use this tool?** Log into your Carta administrator account during an active tender offer order period and navigate to the Secondaries menu. Select an active tender offer event and you will land on the dashboard. **What’s next?** This release covers the issuer experience for the  period during tender offers when sellers can enter orders. In the near future, we are expanding this dashboard to provide an improved issuer experience both before a tender offer launches and after it closes: - Pre launch: information and configuration experience prior to the start of a tender offer - Post close: key transaction information and improved administrator experience **Questions?** If you have any questions about Carta liquidity, please contact us at company\_coverage@carta.com Bryan Wells a year ago9/30/2024 [**Quarterly benchmark refresh - Q3 2024**](https://releasenotes.carta.com/quarterly-benchmark-refresh---q3-2024-30hOBG) ## What’s new? We have updated salary, total cash compensation, and equity benchmarks for all job areas and specializations across both valuation and headcount based peer groups. **Benchmark Trends** In aggregate, salary and total cash compensation benchmarks are slightly higher than our last release, increasing by 1%. These increases were consistent across all valuation peer groups and levels. Similar to previous updates, specialization level data continues to change more than the broader sample, as sample sizes for these roles are smaller than job area level data. Equity benchmarks are increasing in aggregate, showing about a 2% increase versus last quarter. This quarter’s increases are fairly tightly correlated with company valuation, with higher valuation benchmarks seeing the largest increases. Updated headcount based benchmarks show larger than typical increases or decreases compared to our initial release for a number of roles. This is a result of additional data, improvements to our underlying models, and feedback from customers.  Going forward we expect these benchmarks to be less volatile over time (similar to our valuation-based benchmarks) #### What were the largest areas of movement from these benchmarks? Salary - Salary benchmarks for most job areas and specializations are within 2% of last quarter’s data. Equity - Equity benchmarks are generally within 5% of last quarter’s benchmarks. Roles that are increasing by more than 5% are Product Marketing, Admin, Project Management, Support, and UX Design ## How do I update my benchmark version? You can also preview the new benchmarks on your Scorecard by navigating to the [Benchmarks](https://comp.app.carta.com/bands) page and clicking on the "Preview benchmarks" bubble in the top left. Here 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. ## Questions? If you have any questions about these new benchmarks, please reach out to your Customer Success Manager. a year ago9/17/2024 [**Investor Relations Page**](https://releasenotes.carta.com/investor-relations-page-1zI8Ss) Manage your investor relationships through the new Investor Relations page! ### What’s new? The Investor Relations page consolidates common workflows for company admins who are responsible for managing investor relationships. The page offers a detailed ledger for each investor and keeps track of any information requests they've sent your way, so nothing gets missed. ### Who is this available for? This is available for all companies who receive requests for information from their investors through Carta. Admins with company editor or full access privileges can view this page. ### How do I use it? Log into your account on Carta and navigate to the Investor relations menu item. Respond to any outstanding Investor requests directly through the ledger and fill out the request for information form (RFI) You'll be able to re-submit or edit your submission through the ledger until the request is marked as completed by the requestor. a year ago9/12/2024 [**Equity Plan Benchmarks**](https://releasenotes.carta.com/equity-plan-benchmarks-THezS) ## What’s new? Board members, investors, and company executives need to to ensure, from a governance perspective, that equity is being used responsibly by the company. To support this need we are launching a new set of benchmarks to help companies evaluate their equity usage versus peers: 1. Option pool size - the percentage of fully diluted shares reserved to grant to people in the future 2. Equity burn rate -  the percentage of fully diluted shares granted over the last 365 days ## How can I access the new Equity Plan Benchmarks? 1. Navigate to the Benchmarks page in Carta Total Compensation 2. Navigate to the “Option pool & Burn rate” tab on the Benchmarks page The appropriate benchmarks, based on your company’s valuation, will be highlighted on the page. ## Questions? If you have any questions about these new benchmarks, please reach out to your Customer Success Manager. a year ago8/22/2024 [**Require Dual Approvers on Payments**](https://releasenotes.carta.com/require-dual-approvers-on-payments-2nDlny) **What's new?** Fund managers can now require two approvers to authorize payments before processing. **What’s important about this change?** This feature provides enhanced controls over releasing payments, ensuring that VC and PE firms can adhere to their audit procedures while maintaining control over their financial operations. **How does it work?** Select _Firm Settings_ in the left hand navigation, then click _Settings_. Within the _Settings_ tab, click _People_, then scroll to the bottom to the new _Payment approval_ section. Here you can set how many approvers are required (up to two) and the threshold amount. Only users with Admin permissions can update this section. If you need to update who the approvers are, scroll to the _People_ section at the top of the page. You’ll also have the ability to track the progress of active payments and view the history of completed payments, including who approved them and when they were approved in your _Activity_ tab. **How do I learn more?** This feature is only available for fund managers using Carta’s [automated money movement](/content/blog/introducing-automated-money-movement/index.html), the most hassle free way to process payments. To learn more about this feature and automated money movement, reach out to your AD. Aneetha Sampath a year ago8/15/2024 [**Portfolio side navigation**](https://releasenotes.carta.com/portfolio-side-navigation-2muoLe) Navigation within the portfolio experience has a new look! With the new side menu, we've made it easier to find what you're looking for within your portfolio. ### What’s new? The navigation menu in the portfolio experience has moved from the top to the side, with a few of the 'harder to find' but important pages made more accessible to reach. Users will additionally have the ability to filter the menu to find specific pages in the menu. With these changes, portfolio owners will have an easier time finding all the tools at their disposal to manage their holdings. ### Who is this available for? All non-investor individuals with a portfolio holding on Carta will see the new navigation menu. ### How do I use it? Log into your account on Carta and view your portfolio to access the new navigation: ### How do I learn more about these changes? For more information, see this [support article](https://support.carta.com/s/article/new-side-nav-for-personal-portfolios) for an in depth breakdown of the changes. a year ago7/31/2024 [**Introducing Market Insights**](https://releasenotes.carta.com/introducing-market-insights-3sAKJy) Data is critical for founders to make informed decisions when fundraising and hiring. We are now offering early stage founders benchmark insights on early stage rounds and first engineering and marketing hires. # **What’s new?** A centralized hub makes it easier for founders to access and interact with fundraising and hiring benchmarks. **Fundraise insights** provides information on early stage SAFE and priced round market terms and how they compare to other companies in related stages, regions, and industries. - Percentiles for company valuations over the last year - Median cash raised per round over the last year - Calculations of the dilution on your cap table based on market round terms **Hiring insights** provides information on how much to pay early marketing and engineering hires. - Option pool size across seed, Series A, and Series B companies - Percentage of total company equity in initial 4-year grant - Available for New York/San Francisco. \*More job areas, levels, and locations are available on [Carta Total Compensation](/content/equity-management/compensation/index.html) # Why this matters: These updates enable founders to navigate fundraising and hiring strategies with precision and insight. This resource enables founders to make data-driven decisions and strategically plan for their company's growth, optimize their fundraising strategies and ensure their hiring packages are competitive, setting their teams up for success. # How can I access it? Market Insights is available on all Carta plans. Find it under Essentials>View market insights. For more information visit our [support article](https://support.carta.com/s/article/fundraise-assistant). Leah Rodriguez a year ago7/31/2024 [**Refer portfolio companies for QSBS Attestations from Carta**](https://releasenotes.carta.com/refer-portfolio-companies-for-qsbs-attestations-from-carta-2WNGak) Investors can now refer their portfolio companies to get QSBS Attestations from Carta. The feature allows investors to do this for individual companies or multiple companies that are likely QSBS eligible. Once you refer your portfolio company, they will receive a notification on Carta encouraging them to get a QSBS Attestation. After a company receives the QSBS Attestation, you will receive an email and copy of a QSBS Attestation letter addressed to your firm highlighting which securities held are QSBS eligible. **What do I need to do?** This feature is available to users who are admins for an investment firm on Carta. Navigate to the 'Investments' page of your firm where you can refer in bulk or individual companies for QSBS reviews from Carta.  If you have any questions reach out to your assigned Carta account team or qsbs@carta.com to learn more! Jordan Agnew a year ago7/29/2024 [**Advanced Equity Refresh Planner**](https://releasenotes.carta.com/advanced-equity-refresh-planner-3Rzb44) ## What’s new? We are launching an updated version of our Equity Refresh Planner to better help with: 1. **Identifying** which employees receive a grant 2. **Deciding** the size of each refresh grant based on market benchmarks This updated tool includes: 1. The ability to add/remove employees to your company’s Refresh Plan 2. Quick filters to quickly identify eligible and/or High Retention risk employees based on tenure, your compensation plan, and market targets. 3. Settings to help manage the refresh grant recommendation and tenure eligibility criteria ## How can I access the new Equity Refresh planner? 1. Navigate to the Reports page in Carta Total Compensation 2. Navigate to the “Equity Refresh” tile and click “View report” 3. The interactive planner will open ## How do I use the Advanced Equity Refresh planner? This planner helps companies identify employees who should be considered for additional equity grants as a way to retain talent at the company. It also provides market based refresh grant recommendations that can be adjusted as needed. ## Questions? If you have any questions about this new planner, please reach out to your Customer Success Manager. Stefan Rosenberg 2 years ago7/15/2024 [**Equity Reporting Suite: Canceled and Returned Updates**](https://releasenotes.carta.com/equity-reporting-suite-canceled-and-returned-updates-1n8i6Q) **What's new?** As part of our ongoing efforts to enhance accuracy and reliability, we have transitioned our Canceled and Returned report to Carta's Equity Reporting Suite service. #### What does the new report offer? - Consistent Date Formatting: All date columns are now displayed as MM/DD/YYYY for consistency across reports. - Standardized Security ID Field: The "Security ID" field is now uniformly formatted across all new reports, facilitating easier reconciliation. - Uniform Quantity Columns: All quantity-related columns, including "Quantity Issued," "Quantity Canceled," "Quantity Forfeited," "Quantity Repurchased," and "Quantity Transferred," are now displayed consistently to simplify reconciliation. - Detailed Transaction Type Field: The new "Transaction Type" field replaces the old "Reason for Cancellation" field. This new field offers more detailed transaction discrimination and resolves previous issues with reconciling shares returning due to grant life expiration (now tracked under "Lifetime Ended"). It also tracks options canceled due to repricing. - Termination Date: A new "Termination Date" field has been added to further streamline reconciliations. #### How can I access it? To access the new Canceled and Returned report, click on Run reports under Essentials or navigate to Cap table and select Run reports. ## Where can I learn more? For more information on Carta's equity reports, please refer to our dedicated [support article](https://support.carta.com/s/article/export-reports). Will WD 2 years ago7/9/2024 [**QSBS eligible investments highlighted in the the SOI**](https://releasenotes.carta.com/qsbs-eligible-investments-highlighted-in-the-the-soi-2J90vS) Fund Admin customers with portfolio companies using Carta's QSBS Attestation product will now see a QSBS tag on the SOI for investments that have been attested to as QSBS eligible by Carta Tax and Valuations team. The tag indicates that your fund holds shares that are QSBS eligible (pending the holding period requirement). To see more details about your QSBS eligible shares you can click on the investment and navigate to the Holdings page and select 'QSBS eligible shares'. Here you can view more information including: number of eligible shares, securities that are eligible, and download a PDF of the personalized QSBS Attestation letter. **What do I need to do?** This page is available to customers using Carta for Fund Administration. You can navigate to your Fund's SOI on Carta by selecting "choose entity" on your firm's account, selecting the fund you wish to view, and selecting "Investments" in the navigation menus. If you have any questions reach out to your assigned Carta account team or qsbs@carta.com to learn more! Jordan Agnew 2 years ago7/9/2024 [**Request access to QSBS Attestation from your portfolio companies**](https://releasenotes.carta.com/request-access-to-qsbs-attestation-from-your-portfolio-companies-2Myc4E) Investors can now request access to their QSBS Attestation letter from portfolio companies using the QSBS product. Investors - Request QSBS letter Click for sound This feature allows you see which of your portfolio companies has received a QSBS Attestation by Carta, and allow you to request access to your QSBS Attestation letter for your eligible securities. **What do I need to do?** This feature is available to users who are admins for an investment firm on Carta. To find your QSBS eligible investments, visit your 'Investments' page and filter to the QSBS eligible investments. If you have any questions reach out to your assigned Carta account team or qsbs@carta.com to learn more! Jordan Agnew 2 years ago6/13/2024 [**New suite of Employee management tools**](https://releasenotes.carta.com/new-suite-of-employee-management-tools-1v1Lag) Starting today, Carta is enabling you to easily determine how much equity to grant employees and when to grant it via new tools such as the Hiring Planner, Refresh Grant Planner, and Equity Pool Forecast. Only Carta can help you: - Minimize manual work using a single platform - Take a proactive approach to thinking about impacts of equity grants on your equity pool - Conduct accurate forecasting using integrated benchmarks from Carta Total Compensation ### What’s new? With our new suite of Employee management tools, administrators have access to four new features: 1. Manage Employees hub: See the tools, required steps, and resources to help you hire, manage and retain your team. 2. Hiring Planner: Add potential new hires to see recommended equity and cash compensation based on market data, and export plans to share with your team and investors. 3. Refresh Grant Planner: See which employees are completing vesting soon, and plan out refresh grants to tenured employees to help retain top performers 4. Equity Pool Forecast: Visualize your equity grants, hiring, and retention initiatives and their impact on your equity pool over time. ### Who is this available for? All Corporation founders and administrators who can view their company’s cap table. ### How do I use it? You can access these flows by going to your Carta account, and going to Manage Employees in the side navigation. From there, you can easily access all of the additional tools. [View a demo walkthrough of this feature](/content/events/forecasting-employee-compensation-accurately/index.html). ### Anything else I need to know? If there is anything you wish to see here, use the feedback form that will show up when you first visit the Manage employees page. If you have already responded and have additional feedback, or cannot find the form, you can reach out to your CSM or provide feedback via [Carta Community](https://community.carta.com/participate/productideas). Will WD 2 years ago6/13/2024 [**Management Fee Improvements**](https://releasenotes.carta.com/management-fee-improvements-1ixprq) **What’s new?** We’ve improved our management fees to ensure you receive accurate offset calculations and experience a smooth approval process, every quarter. **What’s important about this change?** When approving management fees, you can now remain confident offsets are accurately accounted for with improvements to our offsets calculator. This means offsets will be properly allocated to partners in accordance with your LPA. Plus, spend less time reviewing management fees and approve now, but transfer later with our new scheduling feature. **How does it work?** You’ll receive an email and notification through your Activity tab that your fees are ready for review, this time 10 days prior to the new quarter. You’ll then review your management fee calculations. Not only did we simplify the view of your total fees due, but we’ve made it easier for you to understand previously allocated fees, fee savings, and reductions due to offsets or waivers. After you approve your fees, you now have the ability to customize the transfer amount, in this case I selected the full amount, and date the fees are transferred with our new scheduling feature. Because we’re sending you your fees  for review 10 days prior to the new quarter, you can review and approve then, but select to transfer on July 1. Next, select the pay from and pay to accounts, and approve the transfer. If taking advantage of automated money movement to transfer your fee, check the box to authorize the money movement. **How do I learn more or get help?** To learn more about Carta’s management fees feature, reach out to your Account Director or if you’re new to Carta, schedule a demo today. Kathleen Meil 2 years ago6/13/2024 [**Faster, more accurate capital calls**](https://releasenotes.carta.com/faster-more-accurate-capital-calls-BonFC) **What’s new?** We’ve redesigned our capital call experience to introduce self-serve capabilities, like direct edits and self-release, allowing you to get your time sensitive capital calls out even faster. But we didn’t just build for speed, we know the importance of an error-free capital call for both you and your investors, so we’ve introduced automatic health checks and pulled in critical details from your LPA to ensure accuracy in every detail. **What’s important about this change?** Gone are the days of waiting on your fund admin to review an urgent capital call, and the chance of human error. Now, you can remain confident you’re sending out an accurate capital call to investors, no matter the timeline. **How does it work?** Navigate to your Activity tab, select Call Capital, then select the type of capital call. We’ve introduced two additional options, “bring investors in line”, which means you want all of your investors to be at an equal percent of their commitments, and a “custom” option, if none of the options listed work for you. If calling capital Pro rata, select the investors to call, enter your amount, and the purpose of the capital call. Your called capital calculations will be updated in real-time in the summary module as you modify the page. Next, we’ve integrated terms from your LPA into the capital call experience to ensure accuracy in every capital call. If you have cashless offsets outlined in your LPA, it will automatically appear here and be applied to your final amount on the review page. On the final screen, you’ll review all capital call details. You’ll notice information has now been pre-filled for you. We know the due date of your capital call based on your LPA. So instead of you filling this out with the chance of human error, we fill this in for you, alongside preferences from past capital calls. You can edit the details directly here and review the notices for each investor. As a last update to ensure your time sensitive capital calls get out as quickly as possible, we now give you the ability to send this capital call without waiting for your fund admin to review. If everything looks correct, you can send to investors now, schedule for later, or still send to our team for a custom request or second review. If any of our automatic health checks are failing, we’ll require a fund admin review before you’re able to release. **How do I learn more or get help?** To learn more about Carta’s capital calls, reach out to your Account Director or if you’re new to Carta, schedule a demo today. 2 years ago6/13/2024 [**Step-by-step fund formations**](https://releasenotes.carta.com/step-by-step-fund-formations-AfZ9m) **What’s new?** We’ve enhanced our fund formations so fund managers can now access a self-serve, guided experience, all in the same platform they manage their funds. **What’s important about this change?** Whether you’re an emerging manager forming a fund for the first time, or an established GP looking to scale your firm, Carta makes the fund formation process quick and easy with an in-app, step-by-step experience. You’ll be able to understand exactly what step in the formation process you’re on, what information you need to provide, and how many steps to go. **How does it work?** You’ll be guided through the formation process step-by-step, starting with the basics like adding members to your fund and providing details like the name of your entities. After you enter your fund details, we’ll form your entities with Delaware and obtain your EIN, removing days of manual work by automating this process. Next, you’ll move on to more complex items like fund financials and ownership stakes. You’ll get to define fund terms for legal agreements like closings and waterfalls, and set your management fees. If you’re new to venture, we’ll provide you guidance and best practices along the way. The last step in structuring your fund is signing final documents like your LPA and Operating Agreement. All of the information you entered in the steps prior to this is what populates these documents here. You can easily track who’s been invited to sign these documents and their progress. Once all steps are complete and documents are signed, you can then get ready to invite investors to close into your fund. Carta’s data room and closings tool makes the closings experience smoother for both you and your investors. **How do I learn more or get help?** To learn more about Carta’s Fund Formation, reach out to your Account Director or if you’re new to Carta, schedule a demo today. Jake Hadary 2 years ago6/13/2024 [**Track capital calls, now from your phone**](https://releasenotes.carta.com/track-capital-calls-now-from-your-phone-wQNAA) **What's new?** Fund managers can now track the status of active capital calls, directly from their Carta Carry app. **What’s important about this change?** Gone are the days of following up with your fund admin to see the status of a capital call or confirm which investors are yet to pay. Now, you can easily track the status of active capital calls, including a view into the progress of your investors commitments, all from your phone. **How does it work?** After your capital call request has been submitted, you’ll be able to view the progress from both your home screen and your new Capital Calls tab. You can see an overview of the amount pending, pending investors, and due date. For a more detailed view, you can click into the individual capital call  to view investor details. Easily filter investors by which have paid, which have partially paid, and which haven’t paid. You can also view which investors have not yet viewed the capital call notice, so you know who to follow up with. **Don’t have Carta Carry?** Download it on [iOS](https://apps.apple.com/us/app/carta-vc/id1664284852?uo=2) or [Android](https://play.google.com/store/apps/details?id=com.carta.gp.concierge&hl=en_CA&gl=US) today. Eric Morelli 2 years ago6/13/2024 [**View your entire portfolio, now from your phone**](https://releasenotes.carta.com/view-your-entire-portfolio-now-from-your-phone-vIp4k) **What's new?** Fund managers can now view investment performance for each of their portfolio companies, wherever they are. **What’s important about this change?** Whether you’re at your desk or on-the-go, you can quickly view a snapshot of your investments, or click into an individual investment for a more detailed view. **How does it work?** Click into the Investments tab, then view an overview of investments across your portfolio with metrics like cost, gain / loss, and what your ownership percentage is. For a more detailed view, click into an individual  investment to see additional metrics like holdings value, gross IRR, and gross multiple. **Don’t have Carta Carry?** Eric Morelli 2 years ago6/10/2024 [**New Share Class Manager**](https://releasenotes.carta.com/new-share-class-manager-4xuRr2) We are making it easier for companies to keep cap tables up to date after a new round of investment. **What’s new?** Our new Share Class Manager can extract information from Incorporation Documents and Stock Purchase Agreements, saving company administrators time when issuing investor shares after fundraising. **Who is this available for?** All company administrators can upload and extract data from Incorporation Documents. Administrators from companies reflecting their first priced round can upload and extract data from Preferred Round Stock Purchase Agreements. ### Main Value Proposition The new Share Class Manager powered by document extraction saves you time, money, and makes sure your cap table data matches the legal documents after a new round. ### How do I use it? 1. Navigate to Securities, then Manage Share Classes 2. Click "Update Share Classes", then select "Add new filing date" 3. Upload documents, and wait on screen for the extraction 4. Review data and save ### Anything else I need to know? Any company can upload incorporation documents and have new share class data automatically ready for review, but only companies on their first priced round can upload Purchase Agreements. Patrícia Vargas 2 years ago6/6/2024 [**Standard Financial Reporting**](https://releasenotes.carta.com/standard-financial-reporting-2vspAk) Carta’s Financial Reporting  tools automatically generate the expense and minimum disclosure reports that auditors need so that you can easily comply with US GAAP and IFRS 2 accounting standards. Early-stage companies now have a Financial Reporting product designed just for them. Standard Financial Reporting includes automatic expense tracking for equity spending and an audit package with all the supporting evidence and documentation auditors need for stock-based compensation (SBC) expense reporting. Features included: - Automatic 409A valuations data ingestion - FMVs and Peers - Annual reporting - Audit package including SBC expense report, Minimum Disclosure report, and an audit guide detailing the assumptions we make and formulas we use - Premier audit support - Stock split support ## **Who is this available for?** Standard Financial Reporting is available to all Carta cap table customers, but specifically designed for early-stage companies preparing for their first few audits ## **Main Value Proposition** Automatically track your equity spending with Carta’s Standard Financial Reporting. Key benefits include: 1. **Accurate, automated expense tracking**: Tracks stock-based compensation expense, ensuring all cap table transactions are accounted for. 2. **Time saved**: Get your stock-based compensation (SBC) report, minimum disclosure report, and audit guide in 5-10 minutes, saving 1-2 weeks of manual calculations. 3. **Compliance**: Ensures compliance with the Financial Accounting Standards Board (FASB) requirements for booking SBC expense upon first issuance. 4. **Historical expense calculation**: Provides a one-time adjustment for historical expenses in your financial books. 5. **Simplified auditing**: Download an audit package with all necessary documentation, ready to send to your auditor. In just a few clicks, Carta’s tool manages your stock-based compensation expenses, making your audit process seamless and efficient. ## How do I use it? - Go to Compliance > Financial Reporting - Before getting started, make sure your cap table is up-to-date with all historical transactions including issuances, terminations, and cancellations. - Click “Get started” and enter your financial statement end date. Then click “Generate expense.” - Wait a few minutes while we do the complex accounting for you. - Once expense is done generating, book your inception expense as a one-time adjustment in your financial books. - Book your first FY expense in your financial book. - When it’s time for your audit, download your audit package and send it to your auditor. - If there have been any backdated adjustments made to your cap table, you can recalculate your expense before downloading your audit package for the most updated value. ## Anything else I need to know? All questions can be answered through our Financial Reporting support team, contact them via email [718@carta.com](mailto:718@carta.com) Samantha Widman 2 years ago6/6/2024 [**Financial Reporting Vesting & Option Service Integration**](https://releasenotes.carta.com/financial-reporting-vesting-option-service-integration-3BApQQ) Financial Reporting is making an improvement to the way we pull in cap table data, achieving data consistency with the cap table products for vesting schedule tranche values. ## What's new? Previously, Financial Reporting used our own First-In First-Out (FIFO) allocation method to assign exercised quantities to ISO/NSO security type tranches. This method did not always match the cap table, as the logic slightly differed. In order to provide consistent data between cap table products, such as equity reporting, equity awards ledger, equity award details, and Financial Reporting, the Securities team created API services, specifically Vesting and Options for award and tranche level quantities. With Financial Reporting’s integration of the Vesting and Options API service, the tranche values displayed in Financial Reporting reports will be improved to match other Carta products, achieving data consistency. ## Who is this available for? All Financial Reporting customers will benefit from this new method Financial Reporting will be using to achieve data consistency with cap table products and equity reporting. More specifically, companies with ISO/NSO security types will have matching tranche quantity allocations with their cap table! ## Main Value Proposition Fully rely on Financial Reporting for your equity roll forwards! With a few clicks, Financial Reporting will provide accurate equity roll forwards and stock-based compensation expense for your financial statements and audits. Carta’s products talk to one another, which means you can easily rely on Financial Reporting to have accurate tranche quantities that match our other products. ## How do I use it No action required on the customer side. Customers will just continue to generate their financial reporting periods and the reports will correct themselves without disrupting the opening and closing balance of prior reporting periods. ## Anything else I need to know? If you have any questions or want to talk to an expert about this new change, reach out to [718@carta.com](mailto:718@carta.com) Samantha Widman 2 years ago6/5/2024 [**Carta now supports board consents for SAFEs**](https://releasenotes.carta.com/carta-now-supports-board-consents-for-safes-2gHxS0) ## What's new? Get your board's approval while creating SAFEs on Carta with the new SAFEs board consent feature. Our customers can be rest assured their SAFE financings are governed properly. If you've created SAFEs on Carta before this release don't worry, our feature allows for ratifications of previously issued SAFEs so you're audit ready. ## Who's eligible? All companies can fundraise through SAFEs and leverage Carta's board consent feature! Users with Full Access permissions will be able to see the consent creation step. ## How can I access it? If this is your _first time_ creating a SAFE, Carta can assist in efficiently creating a board consent using the information provided. You can skip this step and create one later through the [Board Consent tool](https://support.carta.com/s/article/create-board-consent) or select Yes and you will be walked through the process. Carta will remind you if you ever raise more money through SAFEs than your board had approved. If this ever happens, we'll prompt you the next time you create a SAFE or you can ratify previously issued SAFEs (with an option to adjust your amount if you intend to raise more later) 2 years ago6/5/2024 [**QSBS eligibility support for RSAs**](https://releasenotes.carta.com/qsbs-eligibility-support-for-rsas-2SbHeE) This month we released QSBS support for RSAs. RSAs are a common form of founder equity and understanding their QSBS eligibility can be difficult due to the nature of their vesting and issuance. We now highlight QSBS eligibility in all RSAs where we have performed a QSBS attestation and the securities meet the criteria. The product experience for RSAs will look similar to the other securities eligible for QSBS which includes: - Holdings page experience and Shareholder letter - Information in the certificate modal (shareholder and admin) when QSBS eligible - Tooltip informing user QSBS eligibility is dependent on timely and proper filing of 83b Jordan Agnew 2 years ago5/31/2024 [**Equity reporting suite: Stakeholder Ownership Details Enhancement**](https://releasenotes.carta.com/equity-reporting-suite-stakeholder-ownership-details-enhancement-1V7tT2) ## What's new? To improve reporting for cases where stakeholders have a smaller percentage of ownership, we have enhanced the Stakeholder Ownership Details report to display the full amount of decimal places under the "Fully Diluted Ownership %" and "Outstanding Ownership %" fields. ## Why are we changing this? Previously, the ownership percentages in the Stakeholder Ownership Details report were limited to two decimal places. For example, if a stakeholder owned 0.0135% of the company, the report would have shown 0.01%. This made a small difference for large holdings but could be more significant for smaller ones, like those of employees. With this update, the report will now show the full ownership percentage including all decimal places, such as 0.0135%, ensuring greater precision in the reporting of individual stakeholder ownership. ## How can I access it? To access the Stakeholder Ownership Details report, navigate to Essentials > Run reports. ## Where can I learn more? For more information on Carta's equity reporting suite, refer to our dedicated [support article](https://support.carta.com/s/article/export-reports). Will WD 2 years ago5/23/2024 [**Board consents in Carta are now linked to Option Grants and RSUs**](https://releasenotes.carta.com/board-consents-in-carta-are-now-linked-to-option-grants-and-rsus-2nuxKo) ## What's new? We've made it simple to find corresponding board consents in Carta when viewing Option Grants and RSUs on the cap table. When viewing an equity award on Carta, the new Board Details tab is available with details about the board consent that approved the issuance of the securities as well as a direct link to the board consent itself. ## Who's eligible? All companies on Carta can utilize the board consents tool. Users with Full Access or Company Editor can view board consents for their company and will be able to view the new Board Details tab in the equity details modal. Users without access to the Board Consent tool will not see the new tab. ## How can I access it? While logged into your cap table on Carta, navigate to Equity Awards and click any record with an option grant or RSU issued. With the modal open navigate to the Board details section where you'll find details about the board consent that approved the issuance of this security. Click View board consent to be taken directly to the board consent within Carta. ## Where can I learn more? To learn more about our board consent feature, please see: [https://support.carta.com/s/article/create-board-consent](https://support.carta.com/s/article/create-board-consent) 2 years ago5/23/2024 [**View benchmarks based on employee headcount**](https://releasenotes.carta.com/view-benchmarks-based-on-employee-headcount-2fxM6A) ## What’s new? We have added a new peer group category to view salary, total cash compensation, and equity benchmarks – based on employee headcount. #### How do I view new benchmarks? You can view the new employee headcount-based benchmarks by visiting the [Benchmarks](https://comp.app.carta.com/bands) page and selecting the peer group filter. The new peer groups will be in the dropdown alongside the current peer groups based on post-money valuation. #### How do I use these new benchmarks in my Compensation Plan and Scorecards? We are working on an additional update that will allow companies to use employee headcount-based benchmarks in their Compensation Plans and Scorecards next quarter. ## Questions? If you have any questions or feedback about these new benchmarks, please reach out to your Customer Success Manager. 2 years ago5/13/2024 [**Understand dilution and ownership with the new SAFE Modeling tool**](https://releasenotes.carta.com/understand-dilution-and-ownership-with-the-new-safe-modeling-tool-1kKTTy) ### **Corporations What’s new?** Understand how a SAFE financing round will impact your ownership when it converts in a future priced round. Our new SAFE Modeling tool removes the guesswork by providing current fundraising benchmarks, customized to companies in similar industries and stages. SAFE Modeling is available in all Carta plans. This feature allows users to see how SAFEs they’re raising will impact their ownership, how it will convert for investors, and what terms are most favorable for them to raise on. ### **Why is it valuable?** Dilution occurs the most in the earliest financing rounds. By not modeling ownership at the pre-seed and seed stages, early founders may find themselves more diluted than expected when it converts during a priced round. SAFE Modelings gives founders an easy to use tool to understand the impact of a SAFE round to their ownership. ### **How does it work?** To get started, navigate to Model your Fundraise, and select Model your SAFE. Select the existing investments in your cap table that you want to include in your model and/or add additional investments. Explore how you and your stakeholders ownership and share value is impacted. You also get a detailed view of current ownership, post-money ownership, post-money valuation, and post-money shares by stakeholder and by share class. Interactive graphs further visualize the impact on dilution and ownership changes, using pre-populated priced round terms from Carta’s fundraise benchmarks data. Carta will show suggested priced round terms based on current fundraising trends specific to your company’s stage and industry. For smaller, niche companies an industry aggregate will be used. ### **How do I learn more or get help?** To learn more about SAFE Modeling, check out this [support article](https://support.carta.com/s/article/model-your-safes) or reach out to your Account Manager for a demo. Leah Rodriguez 2 years ago5/9/2024 [**Carta and Deel equity tax withholdings partnership**](https://releasenotes.carta.com/carta-and-deel-equity-tax-withholdings-partnership-1AEa88) ## What's new? Carta has partnered with Deel to help international employees exercise their options. Customers of both Deel and Carta will now have support for Deel calculated tax withholdings and local currency payments for option exercises. Lengthy in-house tax calculations and exchanging local currency into USD to pay for an exercise is now a thing of the past. ## Who's eligible? With its debut, this integration will cover Carta customers who have Deel EOR and Deel Global Payroll employees in the following countries: - France 🇫🇷 - Germany 🇩🇪 - India (Deel Global Payroll only) 🇮🇳 - Israel 🇮🇱 - Italy 🇮🇹 - Netherlands 🇳🇱 - Nigeria 🇳🇬 - Poland 🇵🇱 - Portugal 🇵🇹 - Singapore 🇸🇬 - Spain 🇪🇸 - Switzerland 🇨🇭 Canada 🇨🇦 will also be covered by this integration by end of Q2 2024. ## How can I access it? Companies using Carta and Deel can [activate the Carta integration](https://app.deel.com/integrations/details/1b56c9d7-7a47-45dc-87cb-376a34cd6f73?utm_medium=partner&utm_source=partner&utm_campaign=ww_engage_traffic_partner__cartausers-cartablog-cartataxwithholdinggtm_all_all) in their Deel accounts today to automate their global equity tax withholdings. Employees at companies who have activated the above integration will automatically enjoy the benefits as long as they submit their option exercise request within 15 days prior to their respective option expiration date to ensure they can use the Carta–Deel integration to streamline their option exercise experience. Non-eligible employees will be routed to the default Carta experience. ## Where can I learn more? For more information on how the exercise experience will work, please refer to our support article [https://support.carta.com/s/article/exercise-options-using-carta-and-deels-exercise-flow](https://support.carta.com/s/article/exercise-options-using-carta-and-deels-exercise-flow) 2 years ago5/2/2024 [**Quarterly Benchmark Refresh and Updated US and International Geographic Adjustments - Q2 2024**](https://releasenotes.carta.com/quarterly-benchmark-refresh-and-updated-us-and-international-geographic-adjustments---q2-2024-1IA6CQ) ## What’s new? We have updated salary, total cash compensation, and equity benchmarks for all job areas and specializations. Additionally, we have updated US geographic adjustments for all metro areas as well as international market adjustments and currency conversions. **Benchmark Trends** In aggregate, salary and total cash compensation benchmarks are slightly higher than our last release, increasing by 1%. Salaries increased slightly more for companies with valuations up to $100M. Across all roles, levels 7 and above tended to increase more than levels 6 and below. Similar to previous updates, specialization level data continues to change more than the broader sample, as sample sizes for these roles are smaller than job area level data. Equity benchmarks are increasing in aggregate, showing about a 4% increase versus last quarter. Looking at equity trends by valuation, equity benchmarks increased the most for companies with valuations greater than $500 million. Looking across updated geographic differential data, we observed our top market compensation increasing faster than most other metro areas, resulting in some slightly larger discounts between our top markets and other cities. Most of the larger metro areas within our dataset, however,  have remained relatively stable. For international locations, salary and/or equity adjustments have changed by 10% or more in the following countries: Brazil, Germany, Singapore, Japan, United Arab Emirates, and Switzerland. #### What were the largest areas of movement from these benchmarks? Salary - Salary benchmarks for most job areas and specializations are within 2% of last quarter’s data. Equity - We saw a wider range of equity changes this quarter compared to previous quarters. Some of the larger increases are in Recruiting, Strategy, Project Management, and Sales/Solutions Engineering which are all increasing 10-15% versus last quarter. Mobile Engineering and Product Management saw the largest decreases vs. last quarter (6-8%) ## How do I update my benchmark version? ## Questions? If you have any questions about these new benchmarks, please reach out to your Customer Success Manager. 2 years ago4/29/2024 [**Categorize CEOs as a Founder or Non-Founder**](https://releasenotes.carta.com/categorize-ceos-as-a-founder-or-non-founder-khM2c) ## What’s new? Companies can now classify their CEOs as being either a Founder CEO or Non-Founder CEO. This will allow companies to compare CEO compensation to market targets on both the company and employee Scorecards accurately. ## How do I categorize the CEO as a Founder or Non-Founder? Navigate to the employee list and navigate to “Edit employee” for the CEO. Select “Job area and level” from the menu on the left, and set “Job area” to “CEO”. From there you will be able to select “Founder” or “Non-Founder” for the CEO role Finally, click “Save” in the upper right corner of the screen to save these changes. You will now be able to compare CEO compensation to market targets on the company and employee Scorecards. ## Questions? If you have any questions about how to categorize a CEO as a Founder or Non-Founder, please reach out to your Customer Success Manager. 2 years ago4/18/2024 [**New Equity Reporting Page**](https://releasenotes.carta.com/new-equity-reporting-page-1mXQfC) ## What's new? We've released a significant update and redesign to Carta's Equity Reporting page to enhance report accessibility, and make the process of finding and running reports significantly easier. Here are the highlights: - **Smart Search**: Our new smart search feature utilizes a human-generated question bank and interpretive technology to deliver tailored report suggestions directly within the page, ranked by relevance. - **Featured Page**: Responding to user feedback, we've introduced a new starting page highlighting reports pertinent to your tasks, company, and seasonal needs. This improvement aims to reduce the time spent navigating through extensive lists to locate essential reports. The longer list of all reports is accessible by selecting the All Reports tab at the top of the reporting page. ## How can I access it? To access the new Equity Reporting page, click on Run reports under Essentials or navigate to Cap table and select Run reports. ## Where can I learn more? For more information on Carta's equity reports, please refer to our dedicated [support article](https://support.carta.com/s/article/export-reports). Will WD 2 years ago4/15/2024 [**Founder and Non-Founder CEO benchmarks**](https://releasenotes.carta.com/founder-and-non-founder-ceo-benchmarks-2K6XaU) ## What’s new? We are adding additional granularity to our CEO benchmarks by: - Differentiating benchmarks between Founder and Non-Founder CEOs - Providing equity benchmarks, in addition to salary and total cash. - For Founder CEOs, equity benchmarks are based on total equity ownership - For Non-Founder CEOs equity benchmarks are based on 4-year new hire grants #### How do I see benchmarks for the new roles? You can view the new CEO benchmarks by visiting the [Benchmarks](https://comp.app.carta.com/bands) page and selecting “CEO” under Area. Within “CEO” you can select “Founder” or “Non-Founder” from the Founder Status dropdown. #### How do benchmarks for the additional benchmarks affect the Employee Scorecard? Learn more about how to classify a CEO as a Founder or Non-Founder [here](https://releasenotes.carta.com/categorize-ceos-as-a-founder-or-non-founder-khM2c). ## Questions? If you have any questions about these new benchmarks, please reach out to your Customer Success Manager. 2 years ago4/2/2024 [**Equity Refresh report**](https://releasenotes.carta.com/equity-refresh-report-3BsanS) ## What’s new? We are introducing a new interactive report – the Equity Refresh report.  The report will let users view: - Which employees will complete vesting soon (in the next 6, 12, and 24 months) - An estimated refresh grant amount for that employee ## How can I access the Equity Refresh report? 1. Navigate to the Reports page in Carta Total Compensation 2. Navigate to the “Equity Refresh report” tile and click “View report” 3. The interactive report will open ## How do I use the Equity Refresh report? This report helps companies identify employees who should be considered for additional equity grants as a way to retain talent at the company. ## Questions? If you have any questions about this new report, please reach out to your Customer Success Manager. Stefan Rosenberg 2 years ago3/11/2024 [**Introducing Carta Distributions**](https://releasenotes.carta.com/introducing-carta-distributions-LqWoE) **What’s new?** We're introducing the latest addition to our platform: the beta release of Carta Distributions. Our team has been hard at work, dedicated to simplifying the distributions process and providing a seamless experience for our users. With this release, we're transforming what was once a multi-step process into a matter of clicks. Say goodbye to cumbersome inputs and hello to streamlined efficiency. With Carta Distributions, you can: - Seamlessly connect to your cap table and customized distribution rules - Automate calculations to determine holder payouts - Integrate distributions with waterfall modeling - Direct holders to a dashboard that tracks their invested capital and any preferred returns that have been paid out to date **Why it matters:** Our customers have spoken, and we've listened. Distributions are a critical aspect of their financial operations, signaling value generation for stakeholders. However, the previous tool fell short of expectations. With Carta Distributions 2.0, we're addressing these pain points head-on, enhancing user experience and satisfaction with the tool. **What’s included?** The release focuses on revamping the user experience of the Distributions tool, with support for both pro-rata and custom distribution methods. We're committed to providing a seamless and intuitive interface, making it easier than ever for our users to manage distributions. **What do I need to do?** If you’re interested in trying out the new Carta Distributions, you can reach out to your account manager or schedule a demo [here](/content/requestdemo-llc/?ir=llc-distributions-releasenote/index.html). **What's next?** In the coming weeks, we'll be rolling out additional features and enhancements. Users can expect to see improvements that allow them to visualize the impact of distributions on invested capital balances across the platform. Plus, we'll be introducing email notifications to keep users informed every step of the way. Erin Kim 2 years ago2/29/2024 [**Carta Insights**](https://releasenotes.carta.com/carta-insights-MyeIM) ## What’s new? We are introducing a new page available to Launch customers - Carta Insights. This page will provide both education and data that we believe will be helpful to Founders as you build your company. The information we’re including today is built around compensation. Carta Insights will provide you with: - Educational materials on how to think about setting up your compensation program - Data on typical option pool sizes and equity grants for your first employees - Salary and equity benchmarks for Engineering and Marketing roles ## How can I access the Carta Insights? 1. Select “Carta Insights” from the side navigation bar 2. Click on the section of Carta Insights that you would like to access ## Questions? If you have any questions about this new report, please reach out to launchsupport@carta.com. 2 years ago2/22/2024 [**(Early access) QSBS Attestation for individual shareholders**](https://releasenotes.carta.com/early-access-qsbs-attestation-for-individual-shareholders-3DF6JW) ## What’s New You and our shareholders can  now see exactly which securities are eligible for the QSBS tax benefit on Carta. Companies who purchase a QSBS Attestation letter with Carta, can share a personalized version of their QSBS attestation letter with their individual shareholders. ## For company administrators Give your shareholders access to a personalized QSBS statement in their portfolio with one click. Log into Carta.com --> navigate to the QSBS Tax Break page --> click on 'Share QSBS Attestation'. By selecting ‘Share QSBS attestation’, all individual shareholders will receive an email notifying them that they have a QSBS statement available for download in their portfolio. They will be able to see the statement in their portfolio on Carta. _Sample email that will be sent to individual (or direct) shareholders_ ## For individual shareholders with QSBS eligible securities When viewing your portfolio on Carta, you will see a banner on top of any company that you hold QSBS eligible securities. If your company has shared the QSBS attestation with you, you will be able to download the statement directly from the main portfolio page. If you hold securities that may be QSBS eligible - you will also see two new sections on your holdings page: 1. QSBS Tax Benefit tile that will show you 1. Number of shares that are QSBS eligible today 2. Number of shares  that will be QSBS eligible when the holding period requirement is met 3. Maximum tax savings amount based on your cost basis in the securities 4. _If shared by your company administrator, a link to download and view your personalized QSBS statement._ 2. Table of QSBS eligible securities that shows: 1. Security label 2. Purchase date 3. QSBS Eligibility status 4. _Link to your personalized QSBS statement if shared by your company_ In addition to the new sections in the holdings page, your certificates on Carta will have a new section for QSBS status and the QSBS Attestation. ### Personalized QSBS statements The QSBS statement will show you a personalized snapshot of the QSBS eligible securities you hold as of the download date. The PDF can be used to share with your tax or legal advisors when going through the sale of your shares or discussing your personal situation. The QSBS statement will only be available to individual holders in this release, and not investment firms. _**Disclaimer:**_ _**eShares, Inc. DBA Carta, Inc. does not provide tax, accounting, or legal advice. You are advised to consult with your tax, accounting, or legal advisors regarding any financial, tax or legal implications of exercising your options or selling any shares.**_ ### Learn more about how Carta can help you with QSBS If you or your company would like to learn more about how Carta can help you take advantage of the QSBS tax break, or check out our announcement: [https://carta.com/blog/introducing-qsbs-attestation/](/content/blog/introducing-qsbs-attestation/index.html) Jordan Agnew 2 years ago2/21/2024 [**Equity Reporting Suite: Equity Plan Report**](https://releasenotes.carta.com/equity-reporting-suite-equity-plan-report-1cEvxC) ## What's New? Carta has revamped the Equity Plan report – consolidating key information from different reports, and adding brand new, highly requested functionality. This update provides a comprehensive overview of your equity landscape via summary figures, the ability to tie the change in values over a period via baked-in formulas, and granular security-level details. ## What does the report contain? Base version: - **Available Report**: Obtain a holistic snapshot of your equity plan, including reserved, outstanding, and available shares, for centralized monitoring and management. - **Equity Plan Granted**: Delve into security-level details to track issued, outstanding, vested and more, for optimized management of individual security allocations within your plan. - **Canceled And Returned**: Stay informed about cancellation transactions, understanding the status of securities returning to the pool due to various events, ensuring accurate reconciliation and planning. - **Pourovers**: Track share movement between equity plans transparently, for seamless reconciliation and efficient equity management. Optional add-ons when exporting: - **Transactions Ledger**: Monitor all share movements with a breakdown of transactions affecting equity pool values, for detailed reporting and analysis. - **Rollforward**: Tie out the movement of equity issued under the plan, filtering by period, plan, and even stakeholder to gain insights into share movement over time with ease and clarity. - **Stakeholder Sums**: Get a concise summary of outstanding securities for each participant, for efficient monitoring of individual stakeholder positions within your equity plan. ## How can I access it? You can download the new Equity Plan report from your Carta company account by navigating to Essentials > Run reports > Equity plan, or by going to Cap Table > Run reports > Equity plan. ## Where can I learn more? For more information on Carta's new Equity Plan Report, please refer to our dedicated [support article](https://support.carta.com/s/article/equity-plan-report). Additionally, you can find details on exporting reports in general on our [support site](https://support.carta.com/s/article/export-reports). Will WD 2 years ago2/13/2024 [**Compensation Summary report**](https://releasenotes.carta.com/compensation-summary-report-3jc424) ## What’s new? We are introducing a new interactive report – the Compensation Summary report. Users can now see a complete view of employee salary and equity spend by by Job Area, Track, or Location and evaluate headcount costs to market targets for these groups. ## How can I access the Compensation Summary report? 1. Navigate to the Reports page in Carta Total Compensation 2. Navigate to the “Compensation Summary report” tile and click “View report” 3. The interactive report will open ## How do I use the Compensation Summary report? With the Compensation Summary report, you can view employee salary and equity spend grouped by Job Area, Track, or Location in a table view. Any datapoint that is +/- 10% of the market benchmark will display in red. The Compensation Summary report provides several summary insights including: - Projected Annual Salary Spend - the projected calendar year salary spend based on all current salaries and how it compares to market data - Largest Salary Spend - the area with the largest salary spend and how it compares to market data - Largest Equity Spend - the area with the largest equity spend and how it compares to market data Summary insights take into account only employees with complete information and eligible benchmark targets. Users can export their Compensation Summary report to share and use in reporting. ## Questions? If you have any questions about this new report, please reach out to your Customer Success Manager. 2 years ago2/9/2024 [**Equity Reporting Suite: IPO Reports Bundle**](https://releasenotes.carta.com/equity-reporting-suite-ipo-reports-bundle-38YeiI) ## What's new? An IPO demands meticulous preparation to ensure a company’s governance, finances, and internal protocols   comply with the high regulatory standards for selling shares to the public. The journey to listing day often takes months or years, with the most arduous and time consuming part of the process being the financial and cap table audit. Recognizing the critical need for thorough preparation, Carta now offers a comprehensive bundle of IPO readiness reports. This streamlines the preparation required for the audit and S-1 drafting by consolidating applicable reports in one location and allowing a one-click bulk download. ## What does the bundle contain? The IPO Reports Bundle packages three different sets of IPO relevant reports: Equity Reports (security and stakeholder specific information), Valuation Reports (all 409A valuations during the company's lifecycle with Carta) and Financial Reports (stock-based compensation expense and minimum disclosure reports). ## How can I access it? You can find the IPO reports bundle from your Carta company account by navigating to Essentials > Run Reports, or by going to Cap Table > Run reports. ## Where can I learn more? For more information on Carta's IPO reports bundle, please refer to our dedicated [support article](https://support.carta.com/s/article/ipo-report-bundle). Additionally, you can find details on exporting reports in general on our [support site](https://support.carta.com/s/article/export-reports). If you have questions about other ways Carta helps our customers prepare for an IPO, please refer to our [IPO Readiness Guide and Checklist](/content/blog/ipo-readiness/index.html). Will WD 2 years ago1/30/2024 [**Quarterly benchmark refresh - Q1 2024**](https://releasenotes.carta.com/quarterly-benchmark-refresh---q1-2024-2zKRYA) ## What’s new? We have updated salary, total cash compensation, and equity benchmarks for all job areas and specializations. **Benchmark Trends** Since our last quarterly refresh, we’ve seen an increase in the number of companies and employee records in our data set, with the largest influx among higher valuation companies. As a result, some benchmarks saw slightly larger changes compared to previous releases. In aggregate, salary and total cash compensation benchmarks are flat to slightly higher than our last release. Salaries increased more for higher valuation companies. Similar to previous updates, specialization level data continues to change more than the broader sample, as sample sizes for these roles are smaller than job area level data. Equity benchmarks are flat in aggregate, showing a slight downward trend from last quarter’s 1% increase. Looking at equity trends by valuation, equity benchmarks are flat overall for most peer groups but have declined by about 3% for companies with valuations greater than $1 billion. #### What were the largest areas of movement from these benchmarks? Salary - Salary benchmarks for most job areas and specializations are within 2% of last quarter’s data. The Administrative job area has increased by 4%, while CEO salary benchmarks have decreased by 4%. Equity - Human Resources equity benchmarks have increased 7% overall following a 3% decrease in last quarter’s benchmarks. Three specializations saw the largest decrease in equity benchmarks (5-6%): Web Engineer, AI/ML Engineer, and Account Executive. All other roles saw increases/decreases within 3-4% of last quarter. ## How do I update my benchmark version? ## Questions? If you have any questions about these new benchmarks, please reach out to your Customer Success Manager. 2 years ago1/3/2024 [**Corporate Transparency Act Reporting**](https://releasenotes.carta.com/corporate-transparency-act-reporting-3Z4rOE) **What’s new?** Carta Launch companies can now complete their Corporate Transparency Act report directly in Carta. **What is the Corporate Transparency Act?** The Corporate Transparency Act is a new Law that came into effect on 1/1/2024 that requires companies to report their company and ownership information to the Financial Crimes and Enforcement Network (FinCEN). Many companies registered or doing business in the US are required to comply within 90 days of incorporation and provide continuous updates whenever the company or ownership information changes. **Why is it valuable?** Non compliance with the Corporate Transparency Act has both civil and criminal penalties for companies and their owners. Carta helps simplify the filing process using your data that’s already on Carta. **Who is this product available to?** This is currently only available for companies that are incorporated on or after January 1, 2024 and are using Carta’s free Launch product but it will be made available to all companies in mid 2024. **How does it work?** 1. Navigate to the CTA reporting page under the Compliance & Tax tab 2. Review and verify the pre-filled company and ownership information 3. Provide any missing information (e.g owners or company applicants) 4. Submit your Corporate Transparency Act report **Where can I learn more?** Additional information about CTA and how Carta can help you comply can be found [here](https://support.carta.com/s/article/corporate-transparency-act-reporting) Leah Rodriguez 2 years ago1/2/2024 [**Carta Liquidity: Model Your Tender Offer Transaction**](https://releasenotes.carta.com/carta-liquidity-model-your-tender-offer-transaction-3Kjj3i) **What’s New?** Carta’s Tender Offer Transaction Model report makes it easy to get ready for a tender offer transaction. By directly integrating with your cap table, this report allows you to model stakeholder and security eligibility ahead of a secondary transaction. **How does it work?** The Tender Offer Transaction Model allows companies to create personalized tender offer scenarios based on: 1. Your cap table data as of a selected vesting date 2. Eligible share class, equity types, and option types 3. Participation caps by stakeholder relationship groups 4. Share or dollar caps by individual stakeholders The ability to configure these inputs will help answer important size and eligibility considerations as you contemplate and prepare for a transaction. The report will show you summary statistics of participant counts, maximum share amounts, and maximum dollars by participant group. **Who is this available for?** All Carta Cap Table customers. **How do I access it?** 1. Log into Carta 2. Click on Essentials > Run Reports 3. Select Tender Offer Seller Model 4. Select a record date for which all vested totals will be calculated as of 5. Export You’ll receive a notification once the download is complete, and will receive an Excel spreadsheet with live calculations. If you’re interested in learning more about liquidity, please reach out to [company\_coverage@cartacapitalmarkets.com](mailto:company_coverage@cartacapitalmarkets.com) or your account manager. Matt Tsui 2 years ago12/15/2023 [**Carta Liquidity: Track Options in Your Portfolio**](https://releasenotes.carta.com/carta-liquidity-track-options-in-your-portfolio-K2S5y) **What’s New?** Option holders can now see the value of their vested, unexercised options using market prices based on our proprietary [Reference Price Range](https://releasenotes.carta.com/carta-liquidity-reference-price-range-vdBAI). With just a quick look, option holders can also see potential gains from the exercise and sale of options in their portfolio on Carta. Interested in realizing the gains in exercising and selling your options? Click on the Sell button to start the process of exercising and selling your shares. **What metrics are available and how are they calculated?** Options are displayed alongside any other equity shareholders have in their portfolio for a given company. See our [previous release note](https://releasenotes.carta.com/track-your-portfolio-s-performance-EmTug) for the full list of portfolio metrics. - **Mark**: A mark is the price used to value a holding. Your holdings are marked to the lower bound of the [Reference Price Range](https://releasenotes.carta.com/carta-liquidity-reference-price-range-vdBAI), if Carta has calculated one for the company. - **Shares**: Number of vested common and preferred shares currently held, as well as vested, unexercised options. - **Basis**: Total cost paid divided by the number of shares; for options, the cost to exercise divided by the number of shares. Value of shares: Value of shares at the mark. Calculation: Mark \* Shares - **Unrealized gains**: Unrealized gain (or loss) in value at the mark compared to your purchase price. An unrealized ("paper") gain has not been actualized, but can be by exercising your options and selling the underlying shares for more than the strike price. Calculation: Value of shares - (Basis \* Shares) [Learn more about how options are taxed](/content/blog/equity-101-exercising-and-taxes/index.html) **How does it work?** You can view and identify to a Carta representative how many shares underlying your options you’d like to sell on Carta: 1. Log into Carta’s [Secondary Marketplace](https://app.cartax.com/marketplace/?campaign=RN20231215). 2. View your holdings on the “My holdings” tab. 3. Click on the “Sell” button to submit your indication of interest to sell your holdings. 4. Identify the number of options you’d like to exercise and then to sell on the modal. **Who is this available to?** This is only available to Carta Liquidity customers. At this time, only Accredited Investors who qualify as Institutional Accounts can purchase securities and only Accredited Investors can sell securities via Carta Liquidity. If you’re interested in learning more about Carta Liquidity and get access to the platform, please reach out to [investor\_coverage@cartacapitalmarkets.com](mailto:investor_coverage@cartacapitalmarkets.com) or your account manager. _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._ _The mark displayed by Carta_ _does not represent an executable price or bid/ask spread and does not reflect any market premium/discounts. The fair market value or executable price, if any, for any security may be higher or lower than the provided price. Many unregistered equity securities are subject to transfer restrictions that may limit transfers at any price._ _The mark, Reference Price, and Reference Price Range are not investment advice or a recommendation to transact at any price and should not be your primary basis for determining the value of any security._ Adrian Facini 2 years ago12/11/2023 [**Qualified Small Business Stock (QSBS) dashboard**](https://releasenotes.carta.com/qualified-small-business-stock-qsbs-dashboard-1uCsFi) ## What’s New Companies that subscribe to the QSBS service will see a new QSBS Tax Break page in their Carta account. The page shows your company's current QSBS status and attestation letter. You can also book time with a Carta QSBS expert on the page directly, and view historical QSBS letters. **What do I need to do?** This page is available to users with Full Access or Company Edit access. Users can navigate to the page for their Company by scrolling to the bottom of the menu and selecting \`QSBS Tax Break\`. If you have any questions reach out to your assigned Carta account team or tax@carta.com to learn more! Jordan Agnew