ISO 100K Dashboard

Get the transparency you need to manage ISO/NSO splits with the new ISO 100K dashboard in Carta.

Who this affects

All Carta customers can now access the dashboard under Compliance > ISO 100K.

What's new

The 100K rule for ISOs has been a historically opaque concept in Carta - customers and their legal counsel have often found it difficult to understand how the application of the rule results in the specific bifurcation of ISO vs NSO shares in a particular option grant.

The new ISO 100K dashboard brings a new level of transparency to the way in which ISO options are bifurcated according to Carta's automatic application of the 100K rules. For specific transactions and amendments that fall outside the purview of Carta's automatic bifurcation estimates, customers and their legal counsel can request access to the dashboard's grant editor feature, which allows legal administrators to change the ISO/NSO split estimated by Carta.

Last thing to mention: we worked closely with Orrick (one of Carta's law firm partners) to make sure we were solving this problem in a way that allowed our law firm partners to better support our customers. You can read more about that here on Carta's blog.

Timing

Available now to all Carta customers.

Preview and and manage compensation plans

With the new Plans page, you can now craft and manage your compensation plan to meet the needs of a changing workforce. With Plans you can:

  1. Review your active plan or create a new plan.
  2. Edit and preview draft plans.
  3. View your plan history.

Before making modifications to your plan, preview will allow you to see how a change in peer group, band ranges, or location strategy could impact your employees' compensation targets. 


Availability

  • If you are interested in learning more about Carta Total Comp, please reach out to your Carta Customer Success Manager or sign up here.
  • You must be a Carta cap table customer to sign up for Carta Total Comp.

Partners' capital status included in exports

This past week we've added partners' capital status to the partners export. We know keeping tracking this is important for funds and can be a pain to do manually. Our Partners' exports on Carta now included the following information: 
  • Called capital
  • Uncalled capital
  • Percent of capital called
  • Prepaid balance
  • Outstanding balance

These updates apply to both the fund level and 'All Partners' export. We've added the following columns to the partners export.

Where to find: Log in to Carta > Select a fund within your investment firm > Navigate to the Partners tab > Select 'Export partners'


Timing: Rolled out to funds using our Fund Administration services on April 30, 2021.

Audience: General Partners, CFOs, Investment teams.

Fund performance metrics on Carta

We know how important Carta is in helping fund managers manage and track the performance of their funds. This month we've add a host of new features to help fund managers get and understand the metrics they need about their funds. 

Here's whats new:

1. New fund performance page

  • New table view with an option to 'switch to chart view'
  • Added metrics definitions and explainer tool tips
  • Period selector to allow you to easily select ‘end of’ last year, quarter, or month.
  • Traceback for very metric so you can to view the underlying source data
  • New API using Carta General Ledger for all contributions and distributions data.

Example of new Fund Performance page:

Example of traceback of TVPI metric as of 12/31/2020:


2. New Excel export:

We've added a new export on the page that includes all the metrics and details about the underlying data.


3. Support for parallel entities:

We've also added support for parallel entities (or fund families). You will be able to see all the above features at a consolidated level.


Where to find: Log in to Carta > Select a fund within your investment firm > Select the Fund performance tab

Timing: Rolled out to funds using our Fund Administration services on April 16, 2021.

Audience: General Partners, CFOs, Investment teams, Limited Partners.

Deal Documents on Carta

Fund managers are flooded with troves of documents for every investment their fund's make. These documents house vital terms that need to be quickly referenced during deal negotiations and potential exits to answer questions like- Who has blocking rights? Keeping these documents organized and easily accessible is also key to running a stress free audit that institutional LPs can have confidence in. 

What’s New 

For our early access group, funds using the Carta General Ledger can now see their deal documents directly on their realtime SOI. For each portfolio company, easily access documents by asset including both new investments and the supporting documentation for subsequent valuation updates. 

How it works

1. Work with the Carta team to capture all deal documents

2. Click through any asset on the realtime SOI

3. See all associated deal documents and valuation support

4. View or download the actual documents to verify any needed terms. 

5. Have your Carta Fund Administrator grant your auditor access to the Carta General Ledger so they can access any documentation/support the same way.


Stay tuned as we roll this out to a bigger audience and introduce more tools to make keeping track of deal terms across a portfolio even easier. Reach out to your account manager if you would like to be considered for early access. 


Timing: Rolled out to Carta Fund Administration early access clients April 2021

Audience: CFO'sFund Managers, AuditorsGeneral Partners


Carta’s public company reporting experience has been updated


What’s changing?

The public reporting experience has been enhanced and is now more consistent with Carta’s private markets reporting. Public company administrators can now more easily run reports in Carta. 

Improvements include:

  • Reports are now organized into folders by category
  • Reports are searchable
  • Certain reports that were previously run in areas outside of the reporting tab are now organized into the reporting experience (example: RSU settlement report)

A Virtual Tour is available via the Start Virtual Tour link at the top left corner of the reporting experience. For a limited time, the legacy reporting page can be visited via the Take me Back button at the top of the page.


Who this affects

Public company administrators


Timing

This feature will be available on 4/19/2021.

Run a Single Report to Aggregate Security-Level Details by Stakeholder

What's changing?

Companies can now quickly get the information they need and reduce room for error through our new report builder template. This ‘stakeholder ledger’ enables admins to pull information on stakeholders, cap table, and vesting information in a single report.

Users no longer need to combine multiple reports or run offline calculations to view vested/unvested, forfeited, excised, cost center, employee ID, and relationship in one place.

To create a Stakeholder Aggregate report on Report Builder

Click ‘Create a custom report’ on the Capitalization > Reporting page, and select ‘Stakeholder ledger’.



This will open up the Report Builder interface. From here, you can select any of the available columns. Note that not all columns are available, as some cannot be aggregated at the stakeholder level.


What’s next?

During Q2 we will be adding additional columns, starting with fully diluted ownership. We will also be adding additional filtering options, starting with specific equity plans and share classes.




Private Options International Exercise- Supporting 3rd party money transfer payments

Non-US optionholders at US private companies will now be able to send exercise payments to Carta from 3rd party money transfer providers such as Wise(formerly known as TransferWise), Revolut, Xoom, Remitly etc.

We are giving optionholders the flexibility to either send payments through 3rd party money transfer providers or through wires initiated from banking financial institution.

Who this affects:

Non-US optionholders at US companies, when international exercise via wire feature is enabled by their company

What was the problem:

When we launched the ability for optionholders to wire exercise funds to support in-app money movement, optionholders were hit with bank fees, including intermediary fees, which led to holders underfunding or overfunding their exercises.

Sometimes, optionholders had to walk to a bank to wire the exercise funds as some of the banking financial institutions did not support online wire transfer.

What’s new: 

Optionholders can use the same payment instructions provided after an exercise is approved and send funds via 3rd party money transfer providers. 

Ensure that under "Recipient gets"  in 3rd party money transfer providers you input exact USD funds required for exercise payments. If amount required for exercise does not match with received funds, exercise will be underfunded and we will require remaining funds to complete the exercise.

Once Carta receives exact funds, we initiate outgoing payment to the company. After payment to the Company is succeeded, we generate Certificate.

This feature is an additional payment option that Carta is providing for our customers


Timing:

LIVE for companies that have exercising and settled via Carta feature turned on.

If you would like to have this feature added, contact Carta support!

Vesting & Exercise Status Bars

Users viewing the "Vesting schedule" tab in the security details modal will now see a new column in the "Progress" section labeled "Status" under which progress bars appear next to each vesting tranche that indicate the vesting and/or exercise status for each vesting tranche.

Who this affects

All users in all companies with securities that have vesting schedules

What's new

For security holders and administrators viewing individual security details, click on the "Vesting schedule" tab to see the new status bars (see red boxes below):

Depending on the status of a security's vesting and exercise status, you'll see the following colors:

  • Gray: unvested tranche
  • Light blue: vested tranche
  • Dark blue: exercised tranche

Previously, if there was an exercise for part of a vesting tranche, you'd either see the row colored in gray if the tranche was unvested, or you'd see the row colored in blue if the tranche was vested - this was confusing since neither of these results were technically accurate.

Now, if a vested tranche is partially exercised, you'll see the dark blue exercise color overlaid on the light blue vested color (show below). If an unvested tranche is partially exercised in the case of an early exercisable option grant, you'll see the dark blue exercise color overlaid on the gray unvested color.

Timing

Live now!

Exercise History - Shareholders can now centrally view their complete exercise history

Users can now access their exercise history across their entire portfolio in one spot. This makes it easy to review their activities over a defined time frame - like a tax year! 

Who this affects:

  • Shareholders who have exercised a private company option grant

What's new:

  • Find all exercise details in one location - Within Exercise History you can see a report of all your exercises across your entire portfolio. This makes it easier to get an at-a-glance view of your exercises activity.
     
  • Filter for specific companies or date range - Narrow your report by company or date range to customize your report.

  • Customize your report - Choose which fields are relevant for a given report.

  • Export your report - Download and view your report in a portable CSV format.

Timing:

  • Released March 2021
  • Support for all public company exercises coming Q2 2021

Where to find Exercise History

  • When viewing your portfolio, select the Account drop down menu to find Exercise History



Show Previous EntriesShow Previous Entries