gp carry tracking

Scope of Services: GP Carry Tracking

Carta GP Carry Tracking is an add-on service not included in your Carta Fund Administration subscription. Per annum pricing will be determined based on your individual GP entity structure, needs, and complexities.

In order to be eligible for Carta GP Carry Tracking, the GP entity and funds must be administered through Carta Fund Administration.

You will have access to the following features in Carta GP Carry Tracking:

• Document Distributions: Securely send documents to recipients including carried interest issuances, 83(b) election forms, K-1s, and PCAPs.
• Data Room: Securely store and share documents.
• Carried Interest Issuance: Ongoing issuance and management of carried interest in the Carta cap table product.
• Multi-entity Support: Manage multiple issuing entities within a single account.
• Agreement Execution: Populate carried interest issuance documents and send for electronic signature and acceptance.
• Support: Access to Carta support specialists and access to Carta's Support Center.
• PCAP Generation: Generate PCAPs for all GP members up to a quarterly frequency, within 10 days of fund PCAP issuance.

Carta Responsibilities

• Carta will set up your GP entity in our cap table platform including the carry plans, vesting schedules, and GP entity members.
• Carta will set up your GP entity in our Fund Administration platform including the GP member allocations, historical allocations, and GP entity members.
• Carta will administer the GP member allocations for the GP entities in conjunction with the GP Entity Administration scope of services you have purchased with Fund Administration.

Client Responsibilities

You will provide ¹:

• Executed copy of the GP entity’s W-9
• Executed copy of the GP entity’s latest Operating Agreement
• Current list of members and their commitment amounts (if not clearly and fully stated in Operating Agreement)
• Carry Grant Agreement details for every member as applicable in spreadsheet format if available (active and inactive members)², including:
  • Issuance dates
  • Issued carry % or units
  • Vesting plan
  • Vesting plan start date
  • Holder name
  • Holder email
• Agreements for Residual Carry Units or % for each member as applicable (if not clearly and fully stated in Operating Agreement)³
• For existing entities:
  • Historical accounting and book allocation files up through the latest reporting period
  • List of Effective Carry Units or % for all members as of the last reporting period
  • Record of ownership changes
    • Commitment transfers between members and other commitment changes
    • Carry Units or % transfers between members
    • Member additions
    • Member exits

¹Additional documentation or information may be required by Carta as circumstances warrant.

²This is the assignment of carry units or % along with vesting terms as applicable.

³This is the schedule of the recipients of Unvested and Unassigned Carry Units or % to balance out Effective Carry to 100%.