Introducing Agreement Execution for issuing new interests

What's new?

You can now generate fully executed legal agreements when issuing interests with Carta LLC.

What's important or valuable about this change?

With the new Agreement Execution functionality, you can simplify the end-to-end issuance workflow, increase efficiency, and auditability:

  • Set up interest agreement templates and automatically populate them with data from Carta, such as each interest holder's information, interest type, number of units, and more
  • Send these interest agreements to the holder to collect their signature directly on the PDF
  • Save the fully executed agreement in Carta with the interest so you and the interest holder can access it for audits, personal finance, or tax use cases

What do I need to do?

To get started with Agreement Execution, you will need to first work with our team to set up a new interest agreement template. Get started by navigating to Documents > Templates.

 

Request a new template by clicking on the button on this page.

You need to provide us with the following items to set up a new template:

  • An interest agreement template document in .docx format

    • Include a line for where the holder should sign
    • Include a pre-populated company signature, if applicable (Carta does not populate any signatures besides that of the holder)
  • A list of fields for Carta to auto-populate in the document

    • Today, we can populate any issuance and holder data and certain data relevant to the account and entity

Once your template has been set up, Carta Staff will notify you and you can use it to issue new interests. Watch our demo video to learn more.

How do I learn more or get help?

For more information on interest agreement templates, please read our support article.

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.

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.

New job specializations, quarterly refresh of equity benchmarks, and benchmark version selector

What’s new?

We have 3 exciting updates now available in Carta Total Comp. You can now use: 

  • Refreshed equity benchmarks
  • Benchmarks for 4 new specializations 
  • Benchmark version selector (Bands page)

View new job area specializations

Users will now be able to view and use new salary and equity benchmarks for the following specializations:

  • Office Management (within Administration) 
  • Recruiting (within HR) 
  • Digital Marketing (within Marketing)
  • Partnerships (within Strategy)

Note: Our sample size for new specializations  can be smaller than job area 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 additional specializations?

You can view benchmarks for the Digital Marketing specialization by:

  1. Visiting the Bands page and selecting “Marketing” under Area. Once the marketing job area is selected, you can select the digital marketing specializations by selecting the Specialization dropdown.

  1. This will allow you to view salary/equity bands for levels 1 - 7 for the Digital Marketing specialization.  
  2. The above process can be followed for each of the new specializations.

How do benchmarks for the additional specializations 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 Administrative (Office Management), HR (Recruiting), Marketing (Digital Marketing), Strategy (Partnerships) specializations will now be calculated using the target compensation for the specialization not the job area.

Use refreshed equity benchmarks version 2022-12-20

What changes can I expect from these benchmarks?

We have updated equity benchmarks for all job areas and specializations. These benchmarks are a reflection of the current market, characterized by limited fundraising, a slowdown in hiring, and a potential decrease in some company valuations. As a result, these benchmarks show decreases in target equity compensation. This is due to having a higher concentration in earlier stage valuations and more junior level roles. Equity benchmarks across mid-to-late stage companies and more senior level roles are flat to slightly above our previous benchmarks. Looking forward to 2023, assuming the overall environment remains the same, we would anticipate continued volatility and potential decreases in equity benchmarks.

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

You can update your compensation plan to use the latest benchmark versions in one of two ways: 

  1. Navigating to  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.

View the current market without affecting your Scorecard

Carta is focused on providing your business with the latest market compensation data. We understand that your plan is tied to a point-in-time, making your benchmark version an integral part of your compensation philosophy. We also understand that viewing future versions can help in understanding the current market, headcount planning, and more. Carta is excited to announce that you can now access the latest compensation benchmarks without updating your Plan. 

The Bands page will now default to Carta Total Compensation’s latest benchmarks. However, regardless of what is selected on the Bands page, the Scorecard will remain associated with your selected Plan’s benchmark. Users can easily toggle between the latest benchmarks and those associated with their compensation plan using the Benchmark version dropdown. How do I toggle the Bands page to display the benchmark associated with my Plan?

  1. Visit the Bands page and click the Benchmark version dropdown. 
  2. Select “Default Plan” to view the Bands page using the benchmark associated with your compensation plan. 

What’s next?

Carta Total Comp is working on international geo-adjustments.

Customize cap table views

What's new?

Admins now have the ability to sort the interest type columns in cap table views.

What's important or valuable about this change?

You have one more option to customize the cap table view to your preferences. You can now sort the interest type columns in the cap table views to reflect how you want to view and export data.

What do I need to do?

On the cap table views page, click on Columns. You can show, hide, or rearrange the interest type columns by dragging and dropping them in the order you want. Within each interest type, you can also show or hide specific columns.

Any changes you make to the interest type columns in cap table views will also be reflected in the export.

How do I learn more or get help?

For more information, visit our support site.

Data room usability enhancements

What's new?

Admins can now download data rooms, update access permissions, and view a complete activity log to see who is viewing files stored in your data rooms.

What's important or valuable about this change?

  • Download data rooms. You can now download each data room as a zip file and maintain the folder and file structure, allowing you to share these files with anyone who doesn’t have access to Carta.
  • Update access permissions. Review and update who has access to a data room. You can easily remove access from anyone you previously invited to a data room with, whether they accepted the invite or not.
  • View an activity log. See a history for each data room, folder, and file,  including views and downloads. This is especially useful if you have shared a data room for due diligence with potential investors because you can gauge their interest.

What do I need to do?

To download a data room, navigate to the menu on the right side of the data room and click Download

To update access permissions, navigate to Manage data room > Manage sharing. You can see who the data room was previously shared with and can remove their access.

To view the activity log, navigate to the menu on the right side of the data room and click View activity

This can also be done at the folder or file level, showing a filtered list depending on where the activity log is accessed from.

How do I learn more or get help?

For more information, visit our support site.

Introducing estimated values for equity

What's new?

You can now enable estimated values for interests. Carta can automatically calculate and provide estimates for vested, unvested, and outstanding values as well as threshold gain or loss for profits interests, and MOIC.

What's important or valuable about this change?

You can demonstrate the value of equity to interest holders, including employees, investors, board members, and advisors. They can see estimated values for their interests in their Carta portfolio.

There are multiple values available for you to choose from and each value includes information on how it is being calculated, which improves transparency.

You have the flexibility to choose whether you want to calculate estimated values at all, make the values visible to Admins only or to Admins and interest holders.

What do I need to do?

Equity value estimates are based on the latest per-unit value. A per-unit value can come from a Carta 409A valuation or company Admins can manually input values obtained from other sources, such as a board determination or a recent fundraising round.

Add estimated value while creating a new Interest Type

Complete the flow until you reach the section Estimated value.

Click on the drop-down Visible To to select who should be able to view the estimates. Note that you have the ability to determine whether only company administrators will have access to the estimates or if holders will also be able to see them.

Add estimated value while editing an Interest Type

Under Interests and interest types, click on the interest type and on View interest type details.

Click on Edit on the right side of the Estimated values section.

Click on the drop-down Visible To to select who should be able to view the estimates.

Estimated values will be visible to interest holders in their Carta portfolio.

How do I learn more or get help?

For more information, visit our support site.

Limited Partner Mobile Experience

What's new?

LPs can now manage their investments, all from their mobile device.

What’s important or valuable about this change?

Access your investments, now on the go.

LPs can manage their fund investments and personal investments from anywhere, at any time.

What do I need to do?

Download the Carta mobile application, suited for iOS and Android devices, from your app store. Then login using the same information used to login to your LP Portal on the web application. Once on the home screen, select the fund investment or personal investment you’d like to view: 

If a fund investment is selected, you’ll be able to view key investment details like called capital and net asset value. Plus, you can view, download, and send all fund investment documents like partner capital account statements (PCAPs) and  K-1s. 

If a personal investment is selected, you’ll be able to view key ownership information like share amount and issue date. 

For fund investments, once on Investment Details, scroll to access your fund documents. Select View all  to view, search, and filter all fund documents. Use the search bar at the top to search by document name. Or select Filter to filter by document type like PCAPs, capital calls, or tax. 

Once your document is selected, select the export button to markup, send, or download.


How do I learn more or get help?

Have additional questions about Carta’s LP mobile experience? Reach out to your account manager or request a demo today. 


Show employees their bonus programs in their Total Rewards Statement

What’s new

Variable Compensation Programs are now automatically reflected in an employee’s Total Rewards Statements for all Carta Total Compensation customers. 

Give employees complete visibility into their total compensation 

Show employees all the bonus programs that have been assigned to them in their Total Rewards Statement.  

  1. Enable employees to see a complete picture of their compensation, including any variable programs that you’ve assigned to them 
  2. Save time with variable compensation programs automatically attached to your employees’ Total Rewards statements, with no additional manual work on your end 

Get started 

How do I create a Variable Compensation Program and reflect it in my employees’ Total Rewards Statement?

You can get started with VCP in seconds. Here’s how to get started: 

  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.
  4. Once you have created a variable compensation program(s) and assigned those to the correct employees, they will automatically be shown in an employee’s Total Rewards Statement. 

Learn more

Visit the Carta Total Rewards resource center for more details.

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

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