Exercise Simulator on Mobile!

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.

Portfolio Merging

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

83(b) elections for Profits Interest Units

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.



Improvements to our login screen

What’s coming: We've made a few changes to our login screen to help users get access to their Carta account. We want to make sure your first interaction with Carta is clear, simple, and secure.

Who this affects: 

What’s new:

  • Added a new link to help troubleshoot log in issues and contact support.
  • Updated the show password toggle to an icon to simplify the page layout. This is consistent with our designs also on our registration page.


New log in page

Previous log in page


Drafts V2 - Early Access

What’s coming: 

  • Drafting securities enhancements: in-app spreadsheet and data validations.
  • Option grant and RSU drafting available now. Certificate drafting coming soon.

Who this affects: 

  • Users: Equity administrators, Law firm partners
  • Packages: All packages (Launch, Starter, Growth, Scale, and IPO-Ready will receive this new drafting flow)

What’s better: 

  • In-app bulk actions for large data sets: This new and improved drafting and issuance workflow includes an in-app spreadsheet. 
  • Built-in data validation: We’ve built advanced validations into the product to improve data accuracy and completeness of your entire cap table.

Timing: So far in 2020, about 12,000 customers have received access to Drafts V2.  All remaining clients will be enabled in Q4 2020.  If you'd like to learn more or to request access sooner, email us at draftsfeedback@carta.com

Material event making your 409a stale?

What’s coming: Let your employees know your 409a is out of date and their taxes may be impacted if exercising.

Who this affects: 

  • Users: Equity administrators and option holders
  • Packages: Starter, Growth, Scale, and IPO-Ready will receive this functionality.  Any customer with 409a in their subscription.

What’s better: 

Proactive, in-app communication: When enabling this functionality, all option holders, upon exercising, are shown a disclaimer that the FMV is stale and this could impact their taxes. See the full disclaimer below in “Option Holder view”.

Equity Administrator view:

Option Holder view:

Timing: Rolling out to all 409a customers on September 30th.

Post Exercise Experience on Mobile

We are excited to announce the release of the Exercise History screen, and an update to the Exercise Status Indicator on both iOS and Android mobile apps.

The Exercise History Screen

Holding an objective to provide more humble, human, and helpful experiences; we have decided to take this opportunity to redesign the post-exercise submission process. Within the Option Details screen, we now allow shareholders to view a full history of their past and ongoing exercise submissions. Providing an exercise history empowers shareholders to easily maintain the organization of their equity within Carta.

How do I use it? 

In order to access the Exercise History screen on mobile, install the latest version of the Carta app. Once installed, you can navigate to your securities and tap one to find yourself inside of the Option Details screen. 


From here you will see an interactive card titled “View Exercise History”. Tap the card to see all of your past and present exercises. You will see all of your exercises organized from top to bottom by date. The states of your exercise will be dependent on your exercising activity in Carta. 

From the Exercise History screen, tap a list item to view the Exercise Status Indicator, and Exercise Overview screen.

The Exercise Status Indicator

Our newest iteration the Exercise Status Indicator primarily focuses on how we contextually use effective language. We are doing this by properly breaking down each step with clear actions and concise information regarding both ACH and Wire payment processes. Beyond contextual updates, we have also taken this opportunity to redesign the Exercise Status experience. In order to narrow the disparity between both mobile and web products, we have taken inspiration from the web and reimagined the experience to fit within the confines of your mobile devices.

How do I use it? 

Once you’ve navigated to find the details of your security, tap on the Exercise History card. From the list of past and present exercises, tap one to reveal the Exercise Status Indicator. The Exercise Status is a five-step indicator that can track the ongoing status of your exercise request. We’ll also send you regular updates on the status of your exercise by email.

The new indication of Payment Status provides more context into the common support question “Where is my money?” by displaying a three substep process.

These substeps also provide more detailed information on ACH failures and error cases. The new alerts (R01-R33) are universal codes used by banks internationally. By using these universal codes we can provide better context into why there is an issue, and how it can be resolved. In cases where it is absolutely necessary, we will direct users into the Payment Information screen, or prompt users to call Carta Support.

For Non-US shareholders, we provide context into Wire Transfer. This substep will enable users to view their wire instructions or submit a wire confirmation from the Exercise Status Indicator.

Announcing (new and improved) Release Notes

Over the last few months, we’ve been listening to your feedback on our changelog and identified usability and customization as two areas for improvement. Today, we are announcing our new and improved Release Notes in order to provide you with up-to-date information and news on Carta product changes. 


Key features of our Release Notes include:

Filter by label

You can now filter out notes to only include the ones you care about most. You will be able to filter by Carta product area (Corporations, Investor Services, Platform, and CartaX), customer type (Employee, Equity Administrator, Board Member, etc. ), or release stage (General Audience, Preview, etc.)

You can filter by label on the right hand side of the screen by selecting the label you’d like to see notes on.




Subscribe for recurring product updates

Curious to know about all the great things we’re releasing on a regular basis? Subscribe to our Release Notes. You will get an email to your inbox whenever we post a new update. You can find the subscribe button at the top of the Release Notes page.



Exercise Status Snapshot

After an equity holder has submitted an exercise, they can now easily see the status of an exercise request from their Portfolio Holdings page.

Screen Shot 2020-08-04 at 8.00.43 PM.png

To see additional details about the exercise, equity holders can click ‘View details’ to see relevant information about their exercise request.

ExerciseStatus2.gif

International Exercising on Mobile

We’re releasing an update to the iOS and Android apps to support Options Exercising via Wire transfer! International option holders of private US companies can exercise through Carta via wire transfer. When a company enables this feature, option holders can initiate and track their exercises within Carta and pay for their exercise via wire transfer.

To begin, you will need:

  • An ISO, NSO, or ISO/NSO split option grant

Once you’ve installed the latest version of the Carta app, you can head to the option grant that you intend to exercise. If exercising is available, you can tap on the “Exercise” button to begin.

(1) iOS - Option Details.png

Confirm your country of residence to help guide you through the appropriate exercising steps. It is recommended that you consult with a tax professional or personal financial advisor before exercising to help determine if exercising is right for you.

(2) iOS - Country Picker.png

Once you confirm your country of residence, you’ll now be able to:

  • Choose the number of option grants you want to exercise
  • View the payment information required for your exercise
  • Ensure that your portfolio profile information is up to date

(3) iOS - Exercise Details.png

Once you’ve fulfilled all of the requirements needed for exercising, ensure that you read the terms of your exercise. You can do this by reviewing all linked documents before submission. Once you’re ready to submit an exercise request, tap the “Exercise” button.

(4) iOS - Request Submitted.png

After you submit your request, the issuing company will approve your exercise. Your company’s approval will then allow you to access wire instructions within Carta via the ‘Wire funds’ task in-app, or through your email.

(5) iOS - Tasks.png

Once payment has been confirmed by the company, a certificate will be created. This certificate will be signed by the officers and sent for you to accept. You’ll receive email updates from us as your option exercise progresses.

Note: Carta does not wire funds. A wire transfer must be completed outside of Carta, and through your banking provider.

Show Previous EntriesShow Previous Entries