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



Automated partner matching for Schedule K-1 uploads

Sending K-1s to the right Limited Partners can be a manual, error-prone process. The new K-1 uploader helps ensure that every tax document goes to the right LP. When you upload your K-1s into Carta, our system will automatically match or suggest matches for LPs based upon name and tax ID.

Who this affects 

LP Portal customers, Fund Admin customers

What’s new

We have released a new tool for LP Portal customers to easily upload Schedule K-1 tax documents. This is the same tool used by Carta’s internal fund administrators.

The tool scans each K-1 to look for partner names and tax IDs, and compares them to the names and tax IDs we have on file.

If a K-1 matches with exactly one partner, the tool will automatically assign it to that partner.

If the tool is unable to definitively assign a document to a partner, it will suggest potential matches for user review.

To access the K-1 uploader, visit the Partners tab. Under Documents, select Upload documents and choose Schedule K-1.


Timing: This feature was released March 3, 2021

Biometrics Login on Mobile

To provide safe and easy access to our mobile users, we are introducing biometrics login on the Carta iOS and Android apps.

This update will make it easy for users to log in to the Carta app through the use of Touch ID or Face ID on supported iOS devices, and Facial or Fingerprint recognition on supported Android devices.


Note: Only biometrics login for a single account is supported at this time.

Fund Administration Experience on Mobile

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.


Tax Documents on Mobile

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.

International exercising - submit and settle your exercise with Carta

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:


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:

  • All US private companies will be fully transitioned to support Non-US exercising by March 2021.

Resources:

 

 

Limited Partner Onboarding flow

Limited partners now confirm that their information is accurate when viewing new investments on Carta. This will help ensure accurate information for tax season.

Who this affects

Limited partners with fund investments on Carta and funds using Carta's fund admin and LP portal products

What's new

Limited partners can now review and update their information in the onboarding flow for their fund investment. 

  • Limited partners can confirm or update their address information
  • If a new address is added, they can use that for all of their fund investments

Timing

This was released for Limited Partners on January 14, 2021

Limited Partner Settings

The new Limited Partner Settings page allows Limited Partners to control their information across fund investments on Carta.

Who this affects

Limited partners with investments into funds on Carta.

What's new

Limited Partners can now manage and share their information across fund investments. Previously, Limited Partners had to contact their fund admin or the Carta support team to update their information. Now they can update their address and other information used for taxes and distributions in Settings.

  • Limited Partners can choose to use an address for individual fund investments or apply to all investments
  • When updating an address, a Limited Partner can choose to make that their “default” address to be used for any new investments added to Carta.
  • Partners investing through multiple entities can swap between entities and assign the correct information to each fund investment.


Timing

This went live to all Limited Partners on January 6, 2021

Exercise flow improvements

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. 





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