Wire Instructions Update

What’s New

We have made UI improvements to our Wire Instructions for online wire exercises. The new UI better highlights the amount, timeline, and considerations for completing the transfer. The updates include:

  • User and exercise specific details such as grant, company, option holder, date, and amount.
  • Clearer instructions for the bank on how to handle intermediary fees with specific SWIFT payment instructions. 
  • Approval and reminder emails now show the last day for Carta to receive funds, so the exercise can be complete.

Who this affects

All international users who are exercising options via online wire. 

How it works

The updated Wire Instructions will be available in the same places as before (Tasks view, PDF, Exercise Progress view). You can see the new templates here:

Tasks view


PDF

Exercise Progress view

Email communication

Both Approval and Reminder emails show the date for Carta to receive funds.

Timing

  • Available on all online wire exercises starting 11/30/2022

Additional Resources

Support Article: Exercising Via Online Wire

Land top talent by giving candidates optionality during negotiations

What’s new

Flexible Offer Letters are now available to all Carta Total Compensation customers. 

 

Who this affects

All Carta Total Compensation customers.

 

Let candidates choose a compensation breakdown that’s best for them.

Flexible Offer Letters adds optionality to our Better Offer Letter. Now, you can:

  • Offer up to three different compensation packages to a candidate, setting each with different amounts of  cash, equity, and variable compensation
  • Empower candidates to visualize their future at your company, with first year comparisons and projected compensation charts 
  • Do it all in an integrated, complete platform with CTC’s acceptance flow and Carta’s complete platform 

 

How it works

Start using Flexible Offer Letters today. 

 

Offer Letter Creation Form

When creating an offer letter, you can add up to three  packages in the Compensation section.

Candidate Experience

The candidate will be able to select which package is represented in the First year compensation summary.

The candidate will be able to compare each package against each other in the Compensation Projection chart, too.

For companies using Carta’s acceptance flow, candidates will be prompted to confirm which compensation package they would like to accept in a modal prior to agreeing to the offer.

Companies that are not using Carta’s acceptance flow in the offer letter can correspond with candidates offline to determine the offer letter package the candidate would like to accept.

 

Have additional questions?

Check out our Support Center or reach out to your Customer Success Manager.

 

Author: Charlie Kottler 


Quarterly Salary + Total Cash Benchmark Refresh

What’s new?

Benchmarks version 2022-11-10

What changes can I expect from these benchmarks?

We have updated salary benchmarks for all job areas and specializations. We have also updated total cash compensation benchmarks for sales roles. Salary benchmark changes in this release reflect a slowing market for talent among startups. Most job areas saw little no change versus our last release, with increases/decreases of less than 1%. We saw most of the volatility in this release within engineering specializations, which have smaller sample sizes than the broader job area. Most notably, Mobile, QA, and Web Engineering all saw large increases across peer groups and levels, bringing pay for the various engineering specializations into closer alignment.

What were the largest areas of movement from these benchmarks?

IT, Sales, and Administration roles saw the largest increases ranging from 2%-5%, though the increases to IT and Administration roles are largely due to sample size changes. Support roles saw the largest decrease (4%). All other job areas changed by less than 1%.

Increases:

  • IT
  • Sales
  • Administration

Decreases:

  • Support

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.

  1. Navigating to the Bands page and clicking on the "Update" bubble 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.

What’s next?

Carta Total Compensation is working on updates and improvements to our equity benchmarks in order to reflect the current labor market.

Updated Scorecard for Total Cash Compensation

What’s new?

Carta has updated the Scorecard to feature total cash compensation targets and compa-ratios for all employees within the sales job area. These targets will leverage the total cash benchmarks in combination with the parameters defined in your Plan. These changes will be reflected in both the company and employee scorecard.

How do I enable total cash compensation targets on the Employee Scorecard?

In order to access the new total cash functionality on the Employee Scorecard the employee must be within the Sales job area, total cash targets will be displayed for these employees regardless if they have been assigned variable compensation. For more information about assigning variable compensation checkout the following support article.

How do I access total cash compensation on the Scorecard?

Carta added the following columns to the Scorecard:

  1. Total Cash
  2. Total Cash Target
  3. Total Cash Ratio

These columns are hidden by default but can be enabled by:

  1. Navigating to the Scorecard and selecting the column dropdown.
  2. Select the “Total Cash” options that you’d like to include from the dropdown.

What’s next?

Carta Total Compensation is working to refresh our salary benchmarks in order to reflect the current labor market.

Total Cash Compensation Benchmarks for Sales

What’s new?

Carta will now provide total cash compensation benchmarks for the Sales 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. In developing total cash compensation benchmarks we made minor adjustments to base salary benchmarks for the Sales job area. No other benchmarks have changed in this update.

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

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

  1. Visiting the Bands page and selecting “Sales” 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 Sales 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.

  1. Navigating to the Bands page and clicking on the "Update" bubble 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.

What’s next?

We will be updating the company and employee scorecards to reflect the addition of total cash compensation benchmarks

Variable Programs in Carta Total Comp is now available

What's new?

Variable Compensation Programs

We’re excited to share that Variable Compensation Programs is now available to all users.

Bring your bonus programs into your Total Compensation workflow

Eliminate your manual bonus processes, create better alignment amongst your sales organization, and ensure compliance by entering your commission and bonus programs into your compensation plan within Carta Total Comp.

Maintain your bottom line with a well-organized variable comp program

Variable Compensation Programs adds to our compensation management capabilities. With VCP you can:

  • Create variable compensation programs for your organization.
  • Enter variable compensation programs based on a  flat rate or percentage of base.
  • Assign the relevant variable program(s) to an employee.
  • Automatically calculate an employee’s variable compensation based on the parameters of their assigned VCP(s).

How do I create a Variable Compensation Program?

You can get started with VCP in seconds by:

  1. Navigate to the Plan page.
  2. Variable Compensation Programs can be found on the bottom half of the page.
  3. Click Create variable compensation program  to be guided through the process of creating your first variable compensation program.

How do I learn more or get help?

Visit the resource center for more details

Variable Compensation Programs (VCPs)

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

Introducing Session Types for Tax Advisory


What's new

Employees who have access to Carta Tax Advisory through their employer may now choose from up to four different tax advisory session types. This aims to provide transparency and flexibility so you can have the conversation that's right for you. 

Who this affects

US-based employees subscribed to Carta Tax Advisory through their employer

How it works

Scheduling a session

Log in to your  Carta employee account, navigate to the Tax advice tab.

From there, click on "Book a free session" to browse different session types. 

Once you're on the session type selection page, you'll see a brief outline on how to schedule and a selection of three to four different session types. 

Select the session type that's right for you and click "Schedule free session" to book a time with a tax advisor. 

If you're not quite sure where to start, we recommend starting with the "Understand equity basics" session type to learn about your equity and taxes at a high level.

Note: The "Discuss tender offer participation" session type only appears if your company is currently undergoing a tender offer. 

Preparing for a session

Session types: Discuss tender offer participation | Create tax scenarios

Once you've scheduled a time to speak with a tax advisor, you'll be prompted to upload a few documents. Tax advisors will create personalized tax scenarios using this information so you can have the most accurate tax picture. 

If you don't have these documents on hand now, you can skip this step for later. However, you must upload documents at least 24 hours before your session so advisors have enough time to prepare. 

After uploading your documents, you're ready for your session. 

You'll receive a calendar invite with a zoom link to attend your session at your scheduled time. You can also see this information in your tax advice tab in Carta, with the option to reschedule or cancel using the "View details" button. 

Session types: Ask a quick question | Understand equity basics

Once you've scheduled a time to speak with a tax advisor, there's nothing else you need to prepare ahead of your session.

You'll receive a calendar invite with a zoom link to attend your session at your scheduled time. You can also see this information in your tax advice tab in Carta, with the option to reschedule or cancel using the "View details" button. 



Redesigned 409A Acceptance Flow


What’s new?

We have redesigned the way you review and accept your 409A valuation on Carta. This new design presents you first with a quick summary of the analysis along with a note from your analyst letting you know the next steps in finalizing your fair market value (FMV). Once you have reviewed the report, if you have any questions you can contact our team of valuation experts through the support module in the valuation review portal. Lastly, receive board approval from within or outside of Carta to finalize the current FMV on your account. 

How it Works

Once you receive an email notifying you that your valuation is ready for review, you can follow the link within that email to access the 409A ledger where you are able to review and download your valuation. Alternatively, you can navigate to the page within Carta at Compliance > 409A Valuation.




Review your valuation

From the 409A Ledger, once you select ‘Review 409A report’ you will be directed to the valuation review portal. Here you will find an overview of the analysis performed and the concluded FMV along with a note from your valuation analyst informing you of next steps and noting any details within the report that warrant extra attention. Once you have reviewed the analyst’s note and valuation summary, you can download the full report or access the support module from the valuation review portal to access support articles or get in touch with our team of valuation experts. 


Get board approval

Now that you have reviewed the valuation, the next step is to send it to your board for review. You can do so using the board consent feature within your Carta account to easily track acceptance from each board member within the Carta platform. Once all board members have submitted their board approval through the platform, your valuation will automatically be accepted on Carta. If you got approval outside of Carta, that’s great too, simply select ‘My board has approved’ to accept the valuation to finalize the current FMV in your account. Once finalized, the new FMV will be visible to your option holders on Carta.




Offer Letter BETA is now available

What's new?

Offer Letter is now available in BETA

Carta Offer Letter is a fully interactive offer statement that communicates the full picture of a job offer—from salary to equity, benefits, and work culture. Everything a candidate needs to evaluate their next career move.

Communicate the potential value of your equity to candidates 

Carta Offer Letter will showcase your company's brand and culture, accurately reflecting each relevant job detail while concisely educating the full value of your candidate's total compensation package.

With Offer Letter, you can:

Make it easy for candidates to picture the future

Allow candidates to explore their potential total compensation over time with powerful, interactive scenario modeling tools.

Fast track your job offer process

Quickly write, extend, approve, and send your offer process with a complete administrative workflow.

Share your company's unique vision

Make winning offers using a customized letter elevating your brand, ensuring compliance, and driving higher acceptance rates.

What do I need to do?

Activate Offer Letters with a few clicks

In Carta Total Comp, navigate to the Offer Letters page, then click Start to begin sending offers.

How do I learn more or get help?

Visit the below support center articles for more details:

Setup Offer Letters

Create an Offer Letter

Candidate experience

Have more questions about Offer Letter? Reach out to your Account Manager or contact our Support Staff for further details.

New Hire Onboarding for Tax Advisory

What's new

New hire onboarding allows new hires to access their Carta account before they receive and accept their equity grant. By creating a stakeholder record for the employee, employees receive an email to register for a Carta account. This grants them access to Carta Tax Advisory.

If you do not add new hires they will need to wait to accept their equity grant in order to access Carta resources, which can take several months to approve and issue. 

New employees often have questions about their equity as soon as they join a company, Carta Tax Advisory gives them access to dedicated 1:1 support from equity tax experts from day 1 to help them understand their equity packages. 

Who does this affect?

Companies subscribed to Carta Tax Advisory

US-based employees (new hires) at companies subscribed to Carta Tax Advisory

How can I give new hires access to their Carta account?

Important notes before starting: 

  1. The new hire onboarding process only applies to companies subscribed to Carta Tax Advisory
  2. Tax advisory sessions are only available to US citizens or residents
  3. Adding an employee into Carta as a stakeholder provides them access to Carta services like Carta Tax Advisory. Ensure you only add employees you intend to issue equity to.

The Stakeholder ledger allows users with Company editor or Legal administrator permissions to view and modify information for a person that holds multiple securities across the company 

Navigate to Stakeholders > All Stakeholders


Under the Manage Stakeholders drop-down, admins can add stakeholders individually or in bulk

Individually add stakeholders

Select “Add stakeholder” in the Manage stakeholders dropdown list



A modal will appear requesting information about the stakeholder

Required fields:

  • First name
  • Last name
  • Relationship (i.e. employee)
  • Relationship effective date
  • Add and save an address 

Tax ID, Employee ID, Payroll ID, and other address fields can be input as available, but are not required before equity grant issuance

Bulk add stakeholders

Select Bulk add stakeholders from the Manage stakeholders dropdown


Download the template spreadsheet to import stakeholders’ information, save, and upload the modified file. Carta will run a check on the data entered before saving the changes


Note: Admins should not add new columns or move columns in this sheet. They must use the template as is


Required columns: 

  • First name
  • Last name
  • Relationship (i.e. employee)
  • Relationship effective date (MM/DD/YYYY)
  • Country (3 digit) 
  • State (2 digit)

After the updated xslx sheet is uploaded, click “Submit changes” and a confirmation modal will appear

Confirm to complete stakeholder creation


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