Who this affects:

Public company stakeholders

What's new:

Public company stakeholder portfolios now feature share lot details and transaction details tabs, capturing information about shares that are held and shares that have been sold.

Share lot details tab:

The Share lot details tab shows the stakeholder’s share lots. Stakeholders can view their acquisition date and cost basis for all share lots, as well as the source of the shares. For share lots linked to ISO awards or employee stock purchase plans, this view shows a qualifying date capturing the earliest date that the share lot can be sold in a qualifying disposition. The FMV at acquisition is also captured in the table to facilitate tax analysis.

Transaction details:

The second tab features transaction details for any sold lots. Stakeholders can view their sold share lots and their related cost basis and acquisition dates. This view also shows the disposition type if the share lot is linked to an ISO exercise or ESPP purchase. The view captures the proceeds for each liquidated share lot.

For private companies, Carta will now generate the resulting certificate after the option exercise funds are sent to the company and have succeeded (may take 1-2 business days).

Who this affects:

Private companies: Admins and shareholders

What was the problem:

Previously, resulting certificates were generated after Carta confirmed the funds from stakeholder, but before the funds were sent to the Company. This created reconciliation issues for the company as they could not verify if funds were sent to the company before issuing the certificate.

What’s new: 

We have now updated the flow to generate the certificate after funds are sent to the company, which may take 1-2 business days for the company to receive the funds.

Sending K-1s to the right Limited Partners can be a manual, error-prone process. The new K-1 uploader helps ensure that every tax document goes to the right LP. When you upload your K-1s into Carta, our system will automatically match or suggest matches for LPs based upon name and tax ID.

Who this affects 

LP Portal customers, Fund Admin customers

What’s new

We have released a new tool for LP Portal customers to easily upload Schedule K-1 tax documents. This is the same tool used by Carta’s internal fund administrators.

The tool scans each K-1 to look for partner names and tax IDs, and compares them to the names and tax IDs we have on file.

If a K-1 matches with exactly one partner, the tool will automatically assign it to that partner.

If the tool is unable to definitively assign a document to a partner, it will suggest potential matches for user review.

To access the K-1 uploader, visit the Partners tab. Under Documents, select Upload documents and choose Schedule K-1.

Timing: This feature was released March 3, 2021

Starting 3/22, clicking on the Reporting from the Capitalization dropdown will take you to the new Equity Reporting page. 

The new page contains all the equity reports you're familiar with along with significant improvements to help you access data more quickly and in the manner that you need. You'll notice:

• Custom reporting - set filter criteria and add, edit, and remove data columns. Save these custom reporting templates for future use.
• Preview of securities ledger-based reports
• Search to quickly see standard Carta-provided reports as well as your custom reports

You'll be able to switch back to the classic reporting experience via the blue banner at the top of the new Equity Reporting page until 4/5/21. 

For questions or comments, please email out to reports-feedback@carta.com

If you are an LP, you’ve felt the pain of filling out subscription documents. You go through the same long investor questionnaire with the same questions for every fund investment you make. With Carta subscription documents, now you don’t have to. 

What’s New 

Limited Partners who have already completed a subscription document on Carta can now re-use their information for future investments. They can add their subscription information in just a few clicks.

How it works

1. Limited Partners select the portfolio for the entity they are investing through

2. The form is pre-filled with information from their previous subscription. Any questions that are specific to this investment are highlighted for the Limited Partner to answer.

3. Limited partners review and confirm their information is correct.

Check out our Q1 product webinar recap blog post to see how simple the closings process will be.

Timing: Rolled out to Limited Partners on February 24, 2021

Audience: Limited Partners, General Partners

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.

Stakeholders can now view details about their public RSU settlements in the RSU settlement history view.

Who this affects:

Public company stakeholders with RSU awards

What’s new: 

From the portfolio view, stakeholders can navigate to each individual RSU grant and view a comprehensive settlement history:

The settlement history shows the settlement type, shares sold or withheld for taxes, and the net shares that the stakeholder receives. 

Stakeholders can download a Settlement details report capturing the breakdown of their taxes related to the RSU settlement, asl well as shares sold or withheld for taxes:

Carta now features a Pay Cash settlement type for public company RSUs settlements. Administrators can set up a settlement event for participants paying cash to cover their tax obligations for an RSU release.

Who this affects:

Public company administrators

What's new:

When entering in a public RSU settlement through Transactions: RSU settlements, administrators can now select Pay cash as a settlement type.

The Pay Cash settlement type calculates taxes, but does not reduce the gross shares vesting by the shares sold or withheld to cover taxes. Carta captures the ordinary income and taxes to be withheld in its reports as well as in the settlement flow.

Stakeholders will see their total gross quantity of shares in their portfolio post settlement, along with an indication that they paid cash to cover taxes.

Carta Fund Administration clients can now access both company investments and fund overview information on the Carta iOS and Android apps. This will help investors get information on the go.

Who this affects

Fund administration clients 

What’s new

Fund administration clients can now view both company investments and an overview of their fund entities on Carta.  

• General partners can view and search through the company investments
• The new fund overview page provides a summary into the fund investments and also the top five investments, which can be filtered based on Gross IRR, Cost, Value, Gain/Loss, and Multiple.

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.