CCL borrowers and Fund Admin can now submit compliance certificates in-app.

On a quarterly and annual basis, CCL borrowers must certify that they are in compliance with all required covenants in their Loan & Security Agreement by submitting a compliance certificate.

A Fund Admin (Operator) can complete the certificate and submit to the Borrower (Signer) for signature. A Borrower can either sign these submitted forms or fill one out, sign, and submit directly. Both an Operator and a Signer can retract unsigned compliance certificates (e.g. certificate was filled out in error or is no longer applicable).

Carta requires that every security should have a stakeholder with a valid relationship. To further ensure the accuracy of reports, “Relationship” and “Effective date” will now be required every time we add new stakeholders or edit an existing stakeholder. You can add one or multiple relationships for a stakeholder.

Add Stakeholder Modal:

Edit Stakeholder Modal:

When you go to the edit stakeholder modal, you will now see all existing relationships for the stakeholder. You can add additional relationships or edit existing relationships both in this modal and in the “Edit stakeholder properties” modal.

Administrators from private and public companies using Carta’s international wire flow can now capture taxes.

Carta’s international wire exercise flow now captures tax withholding amounts for cash exercises entered by participants in-app.

Upon reviewing and approving exercises of international participants, the administrator is able to update the tax withholding amount:

Upon approval of the exercise, the withholding amount will flow through to:

• the wire instructions communicated to the participant via a task(as the quantity to send for option cost and taxes)
• the confirmation of payment on the administrative side
• the exercised and settled report and tax withholding report

Carta’s public company administrators can create RSU settlements for participants that wish to move their net shares to an outside broker.

Carta’s new “Non-Carta broker net withholding” settlement type allows for administrators to easily designate its participant population that wishes for its shares to be moved to outside broker accounts after settlement.

By selecting this option when creating an RSU settlement:

• administrators indicate that Carta should not move net shares from the company’s transfer agent to the one or more included participants’ accounts within Carta
• Carta maintains all tax withholding information and a history of shares withheld for taxes.
• administrators then electronically transfer shares directly from their transfer agent to the participant’s outside brokerage account. Carta will not request the shares for the included participant(s) or create a position in the participant(s) portfolio for the shares.

To use this feature, select “Non-Carta broker net withholding” and include only the participants that want their shares to go directly to other brokers (and not their Carta account). Then confirm taxes and approve the settlement as usual.

Limited Partners can now see details of all of their fund investments in one place. The new All Fund Investments page allows Limited Partners to see their investments across firms and funds that they’ve invested in. This allows Limited Partners to understand the status of each commitment.

At the top of the page Limited Partners will see anything that they need to take an action on, such as capital calls or recent documents.

In the All Fund Commitment section, Limited Partners have a complete overview of all of their commitments on Carta. These can be sorted by firm or investing entity so that Limited Partners can better understand their investments.

Today, all of Carta’s private, corporate customers have access to the Exercises ledger with 83(b) administration features.

Awhile back, Carta introduced the Exercises ledger. The ledger provided a view of all exercise requests across the company, along with simple filtering by exercise status and date range. We’ve spent some time gathering and incorporating feedback from our customers to provide an improved Exercises ledger with additional features. A few highlights are illustrated below:

Admins are now given a tab that filters for early exercises:

From there, admins can mark whether or not a shareholder chose to make an 83(b) election, and even send notifications reminding the shareholder to upload their 83(b) election form in Carta:

Additionally, admins can reject a submitted exercise request when reviewing the request from within the Exercises ledger:

Filtering by payment type is now possible - this should be especially useful for companies needing to process and accept wire transfers for exercise payment:

Today, all of Carta’s private, corporate customers have access to a new permission level in Carta: the HR administrator.

Carta’s product and business are built around the cap table, so historically, it made sense to offer user permissions that reflected the importance of seeing and managing cap table details.

But as our customers scale and the job functions within their businesses become more specialized, finer access control becomes increasingly important. Specifically, our customers with HR teams were asked to make a tough decision: should I give my HR team the ability to do their job efficiently but expose sensitive cap table information to them, or should I completely prevent them from accessing Carta at all?

The new HR Administrator permission level looks to eliminate that decision by allowing HR team members to access Carta without seeing cap table information. Users assigned the permission can:

• View employee equity information
• Download employee equity reports
• Terminate and otherwise manage stakeholders with the Employee, Ex-employee, and Consultant relationship types
• Draft (but not issue) equity awards

Head over to the “Permissions and roles” page in Carta to begin adding your HR team:

In this difficult time for many private companies, our team has been monitoring the public policy closely and thinking through ways in which Carta can help our customers.

Today we launched the SBA Paycheck Protection Program - Applicant ownership detail report in Beta. The report allows company admins to download all the information they need to populate the Applicant Ownership section in the SBA Borrower application form. You can download the report under the capitalization section of your reports page.

We hope this helps you easily get the data you need from Carta to apply for the Paycheck Protection loans and create more owners!

It’s now easier than ever for Limited Partners on Carta to navigate the LP Portal. With our updated navigation system, all users with a fund investment on Carta will see a new sidebar to navigate their investments. Both companies and funds are visible and easy to access.

We’ve also updated the experience for Limited Partners with multiple investing entities to easily understand their investments into a single fund.

For Limited Partners with access to fund performance for their funds, we’ve upgraded this experience to show TVPI, RVPI, and DPI in addition to IRR.

If you are a user who manages an investment firm, we’ve released a new process to accept securities into your account.

When a company issues a security to a fund or trust that is not yet on Carta, the user is prompted to create a new fund or trust and place it in the correct account. In the past, there was a single page that presented the investor with options of how to proceed. On this prior page, investors would often accidentally create a new entity or incorrectly accept the security into an existing entity.

Today, we released a step-by-step walkthrough that guides the user to create the correct entity and place it into the correct account. For investors new to Carta, this will reduce confusion and mishaps. For long time users, this adds clarity to a crucial step in the acceptance process that they have done many times before.