Hire internationally using Carta Offer Letters

What’s new

Total Comp customers can now send Offer Letters in 140 international currencies.

Get started 

How do I send an Offer Letter in a non-USD currency?

1. Navigate to the Current Offers page and click “Create Offer.”

2. In the “Compensation” section, select the currency for the candidate’s Offer Letter to be created in, regardless of the candidate’s location. 



3. Candidates will be able to view their Offer Letter in the selected currency on the Offer Letter. 


What’s next?

Over the next few weeks, Carta Offer Letters will provide candidates with the ability to view their complete Offer Letter in their local currency and USD using currency conversion at the time the Offer Letter is published. This includes their benefits, Offer Summary, as well as the Compensation Projection chart. 

Learn more

Visit the Carta Offer Letters resource center for more details.

Have additional questions about Carta Offer Letters? Reach out to your Account Manager or contact our Support Team.

Share Class Manager Improvements

What’s new?

The Share Class Manager page will be updated this coming Monday, February 6th to make it easier to navigate, and provide a consistent experience when you are updating AOI terms.

We no longer display a "Link AOI" button at the top of the page. The new flow is designed to be simple and intuitive, with the "Manage Share Class" button giving you access to update existing share classes, add new share classes, and link Articles of Incorporation.

What do I need to do?

Navigate to Capitalization > Manage share classes. Under Manage share classes, there will be three options:

  • Create new share class
  • Edit existing share classes
  • Add historical AOIs

Where can I learn more?

Visit the Share Class Manager support article or contact us via the In-App Help Center.

Private Dilution Report (Beta)

What's new?

Private dilution reports can be run on Carta.

How does it work?

Private company administrators will be able to run a dilution report that will provide them with diluted shares, average trading prices, and supporting tabs to back out the incremental shares tab. 

In this initial release, the following inputs will be available:

  1. Average and weighted average trading prices, including the ability to add Fair Market Values on weekends and holidays
  2. Diluted shares
  3. Supporting tabs to help users recalculate their incremental shares tab

In the future, Carta will also support:

  • Pre stock split values in dilution reports
  • Weighted average shares outstanding (WASO)

What do I need to do to get started?

To participate in the beta and receive early access to this report, please reach out to us at 718@carta.com.

International Bands and Total Cash Compensation Data for Customer Success

What’s new?

We have two exciting updates now available in Carta Total Comp. You can now use: 

  • International salary and equity adjustments on the Plan and Bands pages
  • Total cash compensation benchmarks for the Customer Success job area

International adjustments

Users will now be able to view salary and equity benchmarks on the Bands page based on adjustments from our US benchmarks. In this initial release, users will have access to adjustments for 45 countries.

How do I see international adjustments?

You can view international adjustments by:

  1. Visiting the Plan page and scrolling down to International Market Adjustments. This section will show you suggested adjustments for salary and equity across 45 countries. These suggested Adjustments are based on Carta data and our knowledge of local market practices.
  2. You can override these suggested adjustments to better match your company’s comp philosophy. Click into them to edit, and save your new adjustment by clicking the check box.
  3. Visit the Bands page to view the adjusted salary & equity benchmarks. Find any of the 45 countries by selecting it from the Location dropdown.

Total cash compensation benchmarks for Customer Success

Carta will now provide total cash compensation benchmarks for the Customer Success job area. Total cash compensation is defined as base salary plus target variable compensation. 25th, 50th, and 75th percentile data are accessible on the Bands page. No other benchmarks have changed in this update.

How do I see total cash compensation benchmarks for the Customer Success job area?

You can view Total Cash Compensation benchmarks for the Customer Success job area by:

  1. Visiting the Bands page and selecting “Customer Success” under Area. 
  2. Select “Total Cash” for compensation type.
  3. This will allow you to view total cash compensation bands for levels 1 - 11 for the Customer Success job area.  

How do I update my plan to use the new benchmarks version?

You can update your compensation plan to use the latest benchmark versions either by:

  1. Visiting the Plan page and clicking on the "Update available" link in the Active Plan window.
  2. Navigating to the Bands page and clicking on "Update" in the top left.

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.

Learn more

Have additional questions? Reach out to your Account Manager or contact our Support Team.

What’s next?

Carta Total Comp is working on updated salary and equity benchmarks for all job areas and specializations.

Set up and send your first Offer Letter with a few clicks

What’s new?

We're introducing an easy way for new Carta Total Comp users to send their first offer letter in just a few clicks. With our new guided onboarding experience, you can get the most out of CTC immediately.

The setup guide will be marked as complete for users with Offer Letters already set up. 

Get started 

You must have "Full Admin" permissions to set up Offer Letters.

  1. Navigate to the Offer Letters page and click “Get started.”
  2. Complete the guided onboarding experience to personalize your Offer Letter for your company.

  3. Once you complete your setup, all Admins, Area Leads, and Recruiters will be able to draft, preview, and send Offer Letters. 


Learn more

Visit the Carta Offer Letters resource center for more details.

If you have additional questions about Offer Letters? Please reach out to your Account Manager or contact our Support Team.

Automated Refresh Vesting Schedules

What's new?

We are introducing automated refresh vesting schedules in-app. Now, all private companies have a template ready for refresh vesting, a schedule that mimics Carta's equity strategy of boxcar grants

How does it work?

On the vesting schedule templates page (Securities > Templates > Vesting Schedules), you can edit the Refresh Vesting to select when grants under this schedule should start vesting. See detailed instructions to manage vesting templates here.

You will have options from 1 to 4 years after the issue date.

You are all set! 

Now, you can start adding, modifying or applying the Refresh Vesting when issuing new securities, and we will automatically calculate and input the vesting start date for you, based on the criteria selected on the template.

Where can I learn more?

Visit this support article or contact us via the In-App Help Center.

Share Class Conversions (Beta)

What's new?

Share Class Conversions are now self-serve on Carta.

What’s important about this change?

Skip contacting Support for share class conversions. With our new self-service tool, your law firm will be able to complete this for you in minutes.

Select individual shares, or convert entire share classes when needed. Once the shares classes are converted, Carta handles canceling the existing certificates, issuing new stock certificates, and guiding signatories and security holders through the process of executing signatures. 

What do I need to do?

This feature is currently in beta with law firms and we are releasing it to more users on a rolling basis. By April 2023, all company legal admins will have access to in-app share class conversions too.

If you need to perform a share class conversion, reach out to your outside counsel. If you don’t have a law firm, contact Carta Support using the In-App Help Center.

How do I learn more or get help?

Visit this support article to learn more about the step-by-step process. 

RSU Settlement for Private Companies

What's new?

Carta now helps private company administrators coordinate the settlement of Restricted Stock Units (RSUs). The end-to-end offering allows an Issuer to:

  • configure and schedule a RSU Settlement;
  • provide RSU holders with an election period to identify how they want to pay the tax withholding obligation associated with the upcoming settlement;
  • collect any cash payments from RSU holders; and
  • automatically update the cap table at settlement.

During the election period, RSU holders are invited to access a workflow to view their vested RSUs along with the tax withholding amounts due at settlement. They have the flexibility to meet their tax obligation by electing to net-settle, pay the full amount in cash, or use a combination of surrendered shares and cash. 

This offering helps facilitate the RSU settlement process from setup to share delivery for private Issuers that award RSUs under their equity compensation plans.

How does it work?

Issuers

Private company administrators can go through a four-step process to configure an upcoming RSU Settlement with Carta Liquidity. Issuers can:

  • set the parameters of the settlement (e.g., FMV, election timing, settlement date); 
  • view and confirm the RSUs that will be included based on the vesting end date (i.e., record date); and 
  • view and confirm tax withholding amounts associated with the settlement. 

Issuers can set rates to use when calculating tax withholdings owed based on each RSU holder’s tax jurisdiction(s). Carta Liquidity’s integration with Carta’s equity management platform and tax engine eliminates the need for the administrator to pull and sort cap table information manually or calculate tax withholdings for each RSU holder. Alternatively, Issuer’s can provide tax withholding amounts calculated by their HRIS provider for use in the settlement.


RSU holders

When the administrators invite RSU holders to submit their elections, RSU holders will be able to view which of their RSUs will be settled and the tax withholding amount due per security. In addition, individuals will identify how they would like to satisfy the tax withholding amount owed through a self-service election workflow. 


The three tax withholding payment options include:  

  • Share withholding (i.e., net settlement) - The entire tax withholding amount is paid by surrendering a portion of shares from the vested RSUs released for settlement. The net amount of shares after withholding will be delivered to a RSU holder at settlement. This is the default option.
  • Cash payment - The entire tax withholding amount is paid by a RSU holder in cash (only USD is accepted). RSU holders are required to fund their brokerage account in order to make this election.
  • Share and cash payment - Each RSU holder identifies the mix of cash and shares that will be used to pay the taxes due at settlement, providing them more flexibility. RSU holders are required to fund their brokerage account in order to make this election.

For any cash elections, RSU holders are instructed to transfer the necessary cash to their Carta Liquidity brokerage account*. RSU holders are able to modify their election until the end of the election period. 

At settlement, Carta Liquidity’s integration with Carta’s equity management platform automatically updates an Issuer’s cap table to reflect the shares of stock delivered to RSU holders, and any cash payments received to cover applicable tax obligations will be transferred automatically to the Issuer’s brokerage account. RSU holders will then receive their resulting equity from the Issuer in their Carta accounts. In addition, Carta Liquidity will provide a record of the RSU settlement to both the Issuer and RSU holders. 

Run regular RSU settlement processes with automatic cap table updates and tax withholding calculations, saving your team time and resources 

The RSU Settlement offering will:

  • Reduce the manual administrative work required to set up a regular cadence of RSU settlement through equity management and tax engine integrations
  • Provide RSU holders flexibility to choose how they would like to meet their tax withholding obligations through a self-service election workflow
  • Provide optionality to RSU holders to pay out of pocket for the amount they feel comfortable paying.

Start managing RSU Settlements on Carta!

Reach out to company_coverage@cartacapitalmarkets.com to speak with your relationship manager to turn on this feature. 

*Note: Brokerage accounts and other brokerage services are offered through Carta Capital Markets, LLC (Member: FINRA/SIPC)


Share Offer Letters via a link

What’s new

CTC customers can now send Offer Letters to candidates with a simple URL link if they are not using Carta’s candidate acceptance flow. This will allow companies to send Offer Letters to candidates via an existing email thread with a candidate or additional signatory tool of their choosing. 

Get started 

How do I send an offer letter via link?

  1. Navigate to the Offer Letters page
  2. Draft, preview, and save an offer letter by clicking “Create new offer”.

 3. Once you have saved your offer letter, click “Copy link”, the URL can be pasted and shared to grant access to the published Offer Letter.

 

Learn more

Visit the Carta Offer Letters resource center for more details.

Have additional questions about Carta Offer Letters? Reach out to your Account Manager or contact our Support Team.

Send an Offer Letter directly from the Bands page

What’s new

All CTC customers can now save time by seamlessly previewing and sending Offer Letters straight from the Bands tab. 

  • Companies who have configured the required settings for Offer Letters send Offer Letters faster with pre-filled job and compensation package details .
  • For companies who have not configured Offer Letter settings, a preview of an Offer Letter with a recommended compensation package will be provided. Admins can always quickly configure Offer Letters settings in the Settings tab. 

Get started 

How do I send an Offer Letter from the Bands page?

Here’s how to get started: 

1. Navigate to the Bands page.




2. Click on the Job Breakdown for a particular Role.


3. Click “Create offer” to be shown a preview offer letter with a recommended compensation package based on your company’s Plan information, specific for that Role.


4. Companies who have already configured the required Offer Letter settings will be redirected to the “Create New Offer” page with pre-filled salary and Role information.


Companies who have not configured the required Offer Letter settings will be shown a preview of an Offer Letter for the specific Role. Admins can click “Send your first offer” to be guided on how to configure the required Offer Letter settings before sending your company’s first Carta Offer Letter.

Learn more

Visit the Carta Offer Letters resource center for more details.

Have additional questions about Carta Offer Letters? Reach out to your Account Manager or contact our Support Team.

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