Stakeholders can now view details about their public RSU settlements in the RSU settlement history view.

Who this affects:

Public company stakeholders with RSU awards

What’s new: 

From the portfolio view, stakeholders can navigate to each individual RSU grant and view a comprehensive settlement history:

The settlement history shows the settlement type, shares sold or withheld for taxes, and the net shares that the stakeholder receives. 

Stakeholders can download a Settlement details report capturing the breakdown of their taxes related to the RSU settlement, asl well as shares sold or withheld for taxes:

Carta Fund Administration clients can now access both company investments and fund overview information on the Carta iOS and Android apps. This will help investors get information on the go.

Who this affects

Fund administration clients 

What’s new

Fund administration clients can now view both company investments and an overview of their fund entities on Carta.  

• General partners can view and search through the company investments
• The new fund overview page provides a summary into the fund investments and also the top five investments, which can be filtered based on Gross IRR, Cost, Value, Gain/Loss, and Multiple.

At Carta, we want to make complex things simple and easy to understand. To that end, we’re excited to release Tax Documents on Mobile.

This update will allow Carta users to access Tax Forms 3921 and 1099-B from the dedicated Tax Documents section within their Account.

To access Tax Documents, users can navigate to their account and select Tax Documents under portfolio information. If a user has multiple portfolios, they can choose a desired portfolio to view the documents.

Users will now be able to view, download and share tax documents from the mobile app.

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

Who this affects:

• 🌐 Non-US optionholders at US private companies that have enabled this feature

Supported platforms:

• 💻   Web
• 📱   Android and iOS 

What's new: 

• Submit exercises on Carta - When enabled by your company, option exercises can be initiated within Carta.
• Submit payment to Carta - After admin approval, pay for your exercise with a wire transfer to Carta. Once Carta receives the full cost of the exercise, funds are transferred to the issuing company.
  
  
  
• Exercise and payment status - Track exercise and payment status within Carta. Be notified of any issues with your payment.
  
  
• Immediate certificate generation - After receiving the funds for your exercise, a stock certificate is immediately generated for company officers to sign.

Timing:

• This feature is being made available to US private companies gradually throughout 2021.

Resources:

• [Support article] Exercise options via wire

Managing option exercising is now easier than ever. 

All exercises are now settled through Carta—US optionholders pay via ACH, Non-US optionholders pay via a wire transfer. Carta conveniently manages payment reconciliation and payment issues such as insufficient funds or overpayments. US private companies can centrally adjust exercising via the Transaction Settings page. 

Who this affects:

• 🇺🇸  US private companies 

What's new:

• 💸 All exercises are settled with Carta - No matter where your optionholders are located, Carta will receive all funding for on-platform exercises. US holders pay for their exercise via ACH and non-US holders pay for their exercise via a wire transfer to Carta. Company admins will no longer need to mark exercises as paid. 
• ✉️Communication with optionholders - Carta communicates directly with optionholders to resolve payment issues, letting them know of an outstanding balance for an exercise or facilitating a refund for overpayment. 
• ❌ Auto-cancel unpaid exercises - If a wire exercise is unfunded or underfunded for 30 days after admin approval, the exercise will automatically be canceled. 
• ⚙️ Clear transaction settings - Control option grant exercisability easily in one central location

Timing:

• To be rolled out to all customers by the end of 2021

Action required: 

• Visit Company > Settings > Transaction Settings to opt in
• Once your company has access to this feature, you must opt in within 30 days otherwise online exercising will be disabled
• If you do not yet have access, reach out to your Customer Support Manager to get immediate access

Resources: 

• [Support Article] Enabling online transactions
• [Support Article] Exercise options via wire
• [Release notes] Exercising as non-US optionholder

Optionholders at private companies will now see an improved exercising experience where they can clearly see fair market value (FMV), exercise spread, and option income. 

Who this affects:

• Optionholders exercising option grants from private companies

What's new: 

• Current fair market value (FMV) - Optionholders can see the current fair market value the issuing company has on file, which determines the tax implications of their exercise.
  
  
• Exercise spread on option grant - Optionholders can see the per-grant spread when selecting a grant to exercise. This shows the difference between exercise price and fair market value.
  
  
• Overall gain/loss - When selecting the quantity of shares to exercise, optionholders can see the overall gain/loss for their exercise. This is useful for understanding tax implications of an exercise.
  
• Tax implications - Optionholders will be able to see tax implications more clearly. If the exercise is taxable and the issuing company has provided tax rates for the jurisdiction of the holder, the holder will see a table of the relevant taxes for their exercise. 

We've listened to your feedback on watermark styling obstructing the readability of the documents and we've made a few changes to address those concerns. We'll continue to iterate on our watermarking capabilities and tools in the coming months and we are starting with the following changes.

Here's a sample document with the old watermark styling

Here's the same sample document with the new watermark styling

Specifically, we've made the following changes with this iteration:

• Reduced opacity of the watermark text
• Updated alignment between the rows
• Fewer repetition
  
  

Who these changes affect?
All Carta users who choose to apply watermark on their documents. These changes will be rolling out to all users today.

In an aim to make exercising simple and easy to understand, we are excited to support simulation tools on iOS and Android apps.

This release will allow any option holder on iOS or Android app to view the estimated cost and taxes by simulating an exercise before performing it. 

There are three different scenarios available through the simulator depending on the type of the grant(s).

• All Vested Options
• Early Exercise all Options
• Customize your exercise

While All Vested Options and Early Exercise All Options allow users to simulate a fixed number of options based on the selected date, Customize your Exercise allows users to manually enter the number of options they plan on exercising.

Once the preferred scenario is selected and additional tax information has been provided, the cost and taxes for that exercise are calculated.

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

Audience: 

• Users: Equity holder, Employees, Investors (Corporations), Investors (Fund Admin), LP
• Companies on Launch, Starter, and Growth 
• Platforms: Web, iOS and Android

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

• Organization: Organize and view different company holdings in a single portfolios 
• Customization: Customize portfolio views by selecting which portfolios to merge

Timing: Rolled out on 09.24.2020

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

What’s coming:

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

Who this affects:

• LLCs
• US-based equity holders who are issued Profits Interest Units

What’s new: 

• 83(b) file management
  Equity holders and admins now have a dedicated place for 83(b) elections for Profits Interest Units. On the PIU modal, users will see an 83(b) elections tab where they can access the generated 83(b) election form and upload a signed copy for their issuing company and personal records.
  
  
• 83(b) template for PIUs
  Carta generates a PDF template based on the information in the platform.
  
  
• 83(b) reminders
  Timeliness is important for 83(b) elections. Equity holders will see various reminders in-app and by email highlighting 83(b) eligibility.
  
  
  
  
  

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