Home Screen Redesign on Mobile

Users with holdings in private companies can now view their holdings details straight from the home screen for easy access.

Who this affects

Shareholders with holdings in private companies.

Supported Platforms

  • iOS (Android coming soon)

What’s New

With an objective to provide insightful experiences, we’ve redesigned the home screen on the Carta iOS app to display important holding details for each company. Company cards will now present the following information with the ability to view further details when clicked:

  • Total number of options held, number of options vested and exercised 
  • A vesting progress bar comparing the number of vested and exercised options to the total options granted
  • Summary of securities displaying types and quantities for each held

Carta has released a share activity report to help stakeholders track their public holdings

What’s new?

Public company stakeholders can now download share activity reports that capture their transaction activity and change in shares held during any period.

How it works:

By clicking on the new Statements tab, public company stakeholders enter in the start and end date that they would like to analyze:


The resulting report captures holdings at the beginning and ending of the period, and captures any transactions that cause an increase or decrease in the number of shares the participant holds.

Overall change in ownership is tracked in the Portfolio at the end of period section. Holdings are separated into shares originating from ESPP (Employee Stock Purchase Plan) and non-ESPP sources. The section shows holdings in these categories at the beginning and end of the period.


The Equity transactions in period section captures all transactions to equity (non-ESPP) shares during the period.


The following transactions are captured in this section, including the net effect of the transactions on a stakeholder's holdings

  • Option exercises, including the effect of any shares sold to cover option cost and taxes
  • RSU settlements, including any shares sold or withheld to cover taxes
  • Shares sold
  • Shares transferred in to Carta
  • Shares transferred out from Carta

The ESPP (Employee Stock Purchase Plan) transactions in period section captures all transactions that affect ESPP holdings.

This section captures the transactions below, including the net effect of the transactions on a stakeholder's holdings

  • ESPP purchases
  • Sale of ESPP stock
  • ESPP shares transferred in
  • ESPP Shares transferred out

The report also captures transactions that have been entered into Carta for record-keeping purposes. These transactions do not affect holdings and typically reflect transactions where shares are held or sold at an outside brokerage. 

Transactions in this section include:

  • Option cashless sale or hold transactions facilitated by outside brokers (where shares are sold or held outside of Carta)
  • Option exercises where shares are delivered or held outside of Carta
  • RSU settlements where shares are sold or held by outside brokers

Who can use this?

All public company stakeholders

Timing:

Stakeholders will be able to access this report through their portfolios starting 7/9/2021

User demographic survey for Table Stakes 2021

Announcing a new survey to collect demographic information for Table Stakes

Carta users can now elect to provide their demographic information under the user profile section of their accounts.

Why is this important? 

In 2018, the #ANGELS hypothesized that the gender equity gap was worse than the salary gap. Carta collects the data to help track and analyze what they called #TheGapTable. Together, we created the first ever report on equity distribution by gender and have continued to create it every year since. Equity is the largest lever for wealth creation in Silicon Valley and beyond; we believe it should be distributed equitably. This year we are focused on bringing that data into our application and making this demographic survey more powerful than ever.

What’s new?

When stakeholders navigate to their user profile they will now have a link to a demographic survey that will be used to power the data analysis for Carta’s Table Stakes in December 2021. We encourage all users to participate as each data point contributes to a more powerful analysis.

Navigate to your name in the top right corner and then “Profile and Security” before selecting “Fill out your demographic information”

Who this is available to

All users located in the US. Users who have opted out of communications or have asked to be added to our “do not analyze” lists will not be included in Table Stakes or other analyses.

Posted on behalf of Jessica Ray who led this project.



Instant KYC for LPs Completing Subscription Documents

Limited Partners completing subscription documents on Carta can now be KYC’ed instantly.


What’s New

If your fund leverages Carta’s KYC/AML service and you have Limited Partners (LPs) completing subscription documents in Carta, these LPs are now instantly KYC’ed on the platform. 

Carta’s new instant KYC feature is made possible by Carta integrations with identity and verification databases like LexisNexis, Ekata, Socure, and more.


Limitations

  • For this first release, only individual (as opposed to entity) LPs are KYC’ed. Future releases will support KYC for entity (non-individual) LPs as well. This includes KYC for the LP entity, LP control person, and LP beneficial owners
  • For this first release, only US-based LPs are supported. Future releases will extend support to non-US LPs


How it Works

  1. As an LP completes their subscription documents, individual LPs (for funds that avail of Carta’s KYC/AML service), will now see a dedicated Know Your Customer section. Here, LPs can input the additionally required information for KYC -


  2. Once subscription documents are signed by the LP, the LP is instantly KYC’ed. If the LP passes KYC, this is immediately reflected in Carta and General Partners are notified to countersign -


    Timing: Rolled out to Limited Partners on July 1, 2021


    Audience: Limited Partners, General Partners

Public Cash Exercising Redesign

Users: Option holders of public companies
Platform: Web (iOS and Android coming soon)


With an objective to unify the cash exercising experience between private and public companies, we've enhanced the Public "Cash" Exercising flow on Web to make the steps more seamless, intuitive and easy to follow. Implementing these changes to the exercising workflow allows users to review all the important details relating to their option grant exercise in a step-by-step manner, eliminating confusion about tax withholdings and allows them to better understand the stages of their exercise.

While our previous Cash Exercising workflow for public companies got us some great mileage, our processes and their caveats have evolved, which called for a cleaner, simpler and an overall better user experience. Below are some of the highlights that the new Cash Exercising workflow will introduce:

  1. Step-by-step procedure: Intuitive and easy to follow, allowing the user to fully understand the process
  2. Improved tax estimation/information: Targeted tax withholdings information provided to user with respect to the option grant type being exercised
  3. Cleaner UI: Revamped headings, body text, call to action, helpful support links and more!

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



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.

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:

 

 

Show Previous EntriesShow Previous Entries