What’s New?

Carta Liquidity now highlights recently updated key information to help investors stay informed about market changes.

In Carta’s Secondary Marketplace, you can now view and sort by recently updated bids, asks, our proprietary Reference Price Range, and funding rounds.

How does it work?

You can view the latest updates to the marketplace:

1. Log into Carta’s Secondary Marketplace.
2. Click the “Browse” tab to browse the latest updates to the marketplace . 
3. Sort by the most recently updated orders or Reference Price Ranges, as well as latest funding rounds using the sort options on the top right of the screen.

Who is this available to?

This is only available to Carta Liquidity customers. If you’re interested in learning more about Carta Liquidity and get access to the platform, please reach out to investor_coverage@cartacapitalmarkets.com or your account manager.

Disclaimer: Carta, through its wholly owned broker-dealer subsidiary, Carta Capital Markets, LLC, offers a streamlined experience for executing pre-negotiated stock transfers, tender offers, and other secondary liquidity transactions. Carta Capital Markets, LLC is a member of FINRA/SIPC.

What’s new?

This new release gives investors the choice to fund SAFEs online via ACH. By choosing this option investors can quickly fund SAFEs in one-click. 

Why is it valuable?

Direct online funding is the preferred choice for most investors due to improved security, reduced manual entry errors, and hassle-free transfers. But prior to this release, the choice of the method of funding was exclusively made by the company. 

How does it work?

After signing the SAFE, an investor will be provided with two choices:

1. They can add their bank account securely via Plaid or manually to Carta. This is a one-time setup.
2. They can choose to fund via wire, and they will be shown the wire details provided by the company.
   
   

3. Once the funds are received, the SAFE is issued. 

   1. If funding is via ACH, Carta automatically issues the SAFE as soon as the funds are received. 
   2. If funding is via wire transfer, the company needs to indicate when funds have been received in Carta, and the SAFE will be issued. 

What’s new?

Carta has revamped the Exercised and Settled report. The report, used to reconcile exercises, settlements and sales recorded in Carta, now runs from our new reporting engine and comes with improvements and new fields:

• All equity plans in a single report: the updated version includes all of your equity plans within a single report, allowing for easier transactional reconciliation.
• Dedicated Options and RSUs tabs: the improved version provides separate tabs for option exercises and RSU settlements, condensing and simplifying the tabs to show the fields you care about.
• Early exercise: the new report displays which exercises occurred as early exercises, before the underlying shares had vested.
• Payroll ID: all transactions now have their associated stakeholder payroll ID included to improve payroll reconciliation, assuming the ID was input in the platform.
• RSU withhold-to-cover: the report now accounts for the settlements run using Carta's bulk RSU settlement tool, providing information on quantity withheld and quantity released.
• Two FMV fields: to allow for easier reconciliation of FMV at exercise, the Exercised and Settled report now displays two FMV fields -- the FMV as shown to the stakeholder at the time they requested the exercise, and the FMV from the 409A page covering that exercise period.
• Country and state: improve internal controls, tax reporting, and review in case of holders from several different countries/states.

Who is this available for, and how do I access it?

This is available for company admins with Full Access, Company Editor and View-Only permissions, and can be accessed by going to your company account, navigating to Cap Table > Run reports, and selecting the Exercised and Settled report.

What's new?

GPs can now set a capital commitment range for LPs when closing into their fund.

What’s important about this change?

Providing a commitment range gives LPs the flexibility to adjust their investment amount during the closing process. And it gives you the ability to provide a custom closings experience for each investor, from individual to institutional.

How does it work?

Set a commitment range in Carta Closings, before inviting your LPs to close. You can set one range for all LPs closing into your fund or custom ranges for each individual LP.

Once the LP enters this amount, you will receive a notification with the final committed capital amount.

Reach out to your Account Director to learn more about Carta Closings today. 

What’s new?

Carta has revamped the dashboard page for administrators on their cap table. The dashboard now acts as a central hub that consolidates tasks and recommendations across the cap table to help admins understand what needs their attention at the right times. 

Who is this available for?

Company admins with Full Access or Company Editor permissions can see the dashboard page in their company’s cap table view. 

How does it work?

Log into your Carta account and navigate to your company. The dashboard is the first page you arrive at and can also be accessed through the left-side navigation panel. 

Your Tasks

The ‘Your Tasks’ section outlines all to-do items that you can perform for this company.  

Tasks found here may also be found on the main Tasks page, but also include additional action items that must be completed to ensure your company’s cap table is compliant, accurate, and up to date. 

For certain tasks, upon click you’ll be navigated to a dashboard sub-page to complete the action. Example below:

If there are no outstanding tasks, we’ll let you know that you’re all caught up. New tasks will appear over time as needed. 

Recommendations

Recommendations are helpful cards that appear below ‘Your Tasks’ in the dashboard. 

Recommendations highlight information that helps you stay up to date with time-sensitive tax savings, Carta tools that can speed up and simplify cap table management, and insights into employee vesting schedules to help retain talent. 

What’s New?

Carta Liquidity now displays the implied valuation for all price-per-share values in our Secondary Marketplace.

The most frequently asked question from investors is: "What does that price per share represent in terms of valuation?" Our Secondary Marketplace now provides the implied valuation on live orders, and for our proprietary Reference Price Range. Additionally, users can see a live calculation of the implied valuation when entering an indication of interest.

How does it work?

You can view implied valuations for price-per-share values on Carta:

1. Log into Carta’s Secondary Marketplace.
2. Click the “Browse” tab to view the valuation information associated with the best priced orders on Carta and our proprietary Reference Price Range. 
3. Click the “View company details” on a company to view the valuation information associated with all other orders for that company on Carta.

You can submit indications to buy or sell shares on Carta:

1. Log into Carta’s Secondary Marketplace.
2. Click on the “Sell” button on the Sell tab to submit your indication of interest to sell any of your holdings.
3. Alternatively, click on the “Buy” button on the Buy tab to submit your indication of interest to buy shares of a company.
4. In either case, when entering the “Target price per share” to sell or buy at, an implied valuation of your target price will calculate live.
5. If you don’t see supply in a company you’re interested in, submit an indication of interest to buy on the "Browse" tab

Who is this available to?

This is only available to Carta Liquidity customers. If you’re interested in learning more about Carta Liquidity and get access to the platform, please reach out to investor_coverage@cartacapitalmarkets.com or your account manager.

Disclaimer: Carta, through its wholly owned broker-dealer subsidiary, Carta Capital Markets, LLC, offers a streamlined experience for executing pre-negotiated stock transfers, tender offers, and other secondary liquidity transactions. Carta Capital Markets, LLC is a member of FINRA/SIPC.

What’s new?

You can now use benchmarks that are adjusted to reflect US national average pay levels. This new feature allows you to use an accurate, standard, and uniform approach when setting a compensation framework for your company. You can view and use the US national average by: 

1. Viewing Benchmarks at the US national average pay level 
2. Setting your Compensation Plan at the US national average pay level 

How can I review US national average geo-adjustments? 

US national average benchmarks are available to review on the Benchmarks page by following these steps:

1. Navigate to the “Benchmarks” page

2. In the Location selection drop-down, users can select “All US locations (national average)”

How can I use the US national average in my compensation plan? 

If your location-based compensation strategy targets compensation for all employees at the US national average, you can follow these steps to build that into your Compensation Plan

1. Navigate to “Compensation plan” on the top nav.
2. Navigate to “Location-based pay”
3. Under “USA Adjustments” select “Pay everyone the same regardless of location”
4. Check the box labeled “Use national average”

Questions? 

If you have any questions about US national average geo-adjustments, please reach out to your Customer Success Manager.

What’s new?

Our benchmarks now support one new job area and two new specializations:

• Manufacturing (newly supported job area)
• HR Generalist (new specialization within the HR job area)
• Product Marketing Manager (new specialization within the Marketing job area)

Note: The sample size for new benchmarks are generally smaller than existing benchmarks, which could result in data volatility as we continue to update the data and grow our overall sample size. 

How do I see benchmarks for the new roles?

You can view benchmarks for the new roles by:

Visiting the Benchmarks page and selecting “Manufacturing, “Human Resources, or “Marketing” under Area. Within “Human Resources” and “Marketing”, you can select any of the new specializations by selecting the Specialization dropdown.

This will allow you to view compensation benchmarks for levels 1 - 8 for these new roles

The above process can be followed for each of the new benchmarks.

How do benchmarks for the additional benchmarks affect the Employee Scorecard?

The compa-ratio is a quick way to compare an employee's compensation to your plan's target rate for a given job area, level, and location. The compa-ratios for an employee assigned to the new benchmarks will now be calculated using the target compensation for the new benchmarks.

How do I update my benchmark version to use new data?

You can preview the new benchmarks on your Scorecard by navigating to the Benchmarks page and clicking on the "Preview benchmarks" bubble in the top left.

Here you will have the opportunity to preview the new plan with the updated benchmarks version and assess their impact on your Scorecard before accepting the new plan.

Questions? 

If you have any questions about the new data, please reach out to your Customer Success Manager.

What's new?

Fund managers can now submit reimbursements on Carta Carry.

What’s important about this change?

Gone are the days of holding on to crumpled receipts or combing through credit card statements at quarter’s end to submit for reimbursement.

Now, we’ve streamlined expense management right from your phone. Easily submit a reimbursement in real-time by snapping a picture of the receipt and uploading it in one place.

How does it work?

Tap Submit Reimbursement, then select Add Receipt. You can select to take a picture, choose a photo from your photo library, or upload a file.

Then select the paying entity and where the reimbursement should go. Add any additional information your fund administrator should know when processing this expense, then tap Submit Request.

Don’t have Carta Carry?

Download it on iOS or Android today.