Starting today, we are launching a new feature to make it easier for companies to manage their stakeholders on Carta. Companies with an HRIS integration can terminate up to 25 stakeholders at a time. We are also making the process for performing terminations simpler by removing steps needed to complete this action. This feature is rolling out to select companies today and will be available to all company admins that have set up an HRIS integration on Carta by May 11, 2023.

Who is this for? 

Companies on Carta that have an HRIS integration. If your company does not currently have an HRIS integration set up, you can do so by navigating to your Settings -> Integrations. 

How does it work? 

Companies should take the following steps to terminate 1-25 stakeholders at once: 

• Navigate to Stakeholders -> Stakeholder Changes
• Navigate to the Terminations tab (2nd from the left)
• Select between 1 and 25 employees using the checkbox on the right
• Click Bulk Terminate Stakeholders. If the admin has terminated at least one employee, this button will take them to the Terminate Stakeholder page.
• Check to make sure all data for each employee is correct before selecting Terminate Stakeholder at the bottom.

How is this different from the current experience? 

The current experience allowed for single employee terminations only. Each termination required the company admin to access multiple pages and take multiple steps.  

I do not have an HRIS integration. How do I get access to this feature? 

The best way to access this feature is to add an HRIS integration to your account. Carta supports over 100 HRIS providers. Connecting Carta to your HRIS will help you reduce time spent manually inputting data and ensure data accuracy as your stakeholder information changes over time. You can read more about how to connect your HRIS here. 

I did a bulk termination incorrectly and I need to undo it. Can I reverse these terminations in bulk? 

Not at this time. You will need to reverse each termination individually. You can review the instructions in detail in this support article.

Where do I go to learn more? 

You can review detailed instructions in this support article or reach out to Carta support to learn more. 

What’s new?

We’re excited to announce the release of three new specializations:

• Art & Graphic Design (within the Design job area)
• Product Management (within the Product job area)
• Social Media (within the Marketing job area)

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. 

No other benchmarks have changed in this update.

How do I see benchmarks for the additional specializations?

You can view benchmarks for the new specializations by:

1. Visiting the Bands page and selecting “Design”, “Product”, or “Marketing” under Area. Once the job area is selected, you can select either the Art & Graphic Design, Product Management, or the Social Media specialization by selecting the Specialization dropdown.

1. This will allow you to view salary/equity bands for levels 1 - 8 for Art & Graphic Design or Product Management. For Social Media, data are available for levels 1-6.

1. 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 Art & Graphic Design, Product Management, and Social Media specializations will now be calculated using the target compensation for the specialization, not the job area.

How do I update my benchmark version to use new specializations?

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?

The Carta Total Compensation team is working on our Q2 benchmark refresh for all job areas and specializations

What's new?

You can now bulk download a large volume of documents from the Documents Library.

What's important or valuable about this change?

Admin users can download as many documents as they need to in one go from the Documents Library. This helps speed up tasks around tax season, such as downloading all the Form K-1s.

What do I need to do?

Select the documents you need to download, and click Actions → Download documents.

The zip file will be available for you to download in the Downloads section at the top right.

How do I learn more or get help?

For more information about the Documents Library and distributing K-1s, visit our support site.

What's new?

A new fast-fill feature is available when processing a large volume of terminations.

What's important or valuable about this change?

When making changes to a large volume of interests, the fast-fill feature lets you make them to multiple interests altogether instead of one by one.

This helps you get through cap table update tasks, such as bulk termination of interests, more efficiently.

What do I need to do?

The fast-fill feature is available in the interest termination workflow today and will be available for more workflows soon. Click the lightning bolt button to the top left of the interests you’re terminating to fast-fill the termination reason and date.

When you click on Fill column, you can choose to fill empty fields only or all fields, which provides you the flexibility to customize the termination reason and date for certain interests first and then fill in the rest with the same reason and date.

How do I learn more or get help?

For more information about terminating interests, visit our support site.

What's new?

Admins can now convert notes and SAFEs into other types of interests in Carta.

What's important or valuable about this change?

Convertibles like notes and SAFEs are used by companies to raise money when they’re starting out. You can keep track of convertibles in Carta and when certain thresholds are met, convert them into actual equity.

With our latest features, you can convert notes and SAFEs into other types of interests, issue these interests to investors, and automatically update your cap table.

What do I need to do?

To get started, select the notes and SAFEs you want to convert from the interest ledger, click Actions, and Convert Interests.

You’ll need to have the following information available:

• Effective date of the conversion event
• Conversion price and destination interest type
• Unit quantity for each converted interest
• Conversion documents (optional)
• Acceptance documents for new interests (optional)
• Additional data for new interests

In a few steps, you’ll provide the conversion event details, the quantities to convert, and confirmation of the conversion.

How do I learn more or get help?

For more information, visit our support site.

What's new?

You can now create a custom vesting plan for a particular interest.

What's important or valuable about this change?

Instead of creating a new vesting template, you can now create a custom vesting plan for an interest to accommodate a bespoke vesting schedule with time and performance conditions specific to the holder’s interest agreement. 

What do I need to do?

Navigate to the Interest Details of the interest you want to customize the vesting plan for and then click on the Vesting tab. Click the Apply custom vesting plan button in the top right.

You can customize the vesting plan for this particular interest granted to this interest holder.

How do I learn more or get help?

For more information on vesting schedules, visit our support site.

What’s new?

International salary and equity targets are now on both the company and employee Scorecards. This now enables users to easily compare non-US employee compensation to the market, similar to how comparisons are currently shown for US employees. International bands data continues to be available on the Bands page.

On the Company Scorecard, users can see a complete view of all employees. Users can toggle between local currency and USD by clicking the checkbox at the top.

View an Employee-level Scorecard by clicking into any employee for additional information on their salary and equity. By default, employee cash compensation and market targets will be shown in the employee’s local currency. Users can toggle between local currency and USD using the checkboxes at the top of the employee scorecards.

As Carta Total Compensation only supports equity granted in USD, net equity values on all scorecards will only be shown in USD.

How do I update my scorecards to show international salary and equity targets?

No action is needed. The scorecards will update automatically with the appropriate data.

What’s next?

Carta Total Compensation is developing benchmarks for new specializations.

What’s new?

Employees who have access to Carta Tax Advisory through their employer now have access to new, personalized educational content in their Carta portfolio. The release contains a few features for employees:

1. New Learn page with personalized education chapters.

The Learn page will have videos organized in personalized chapters, based on your equity and employment status. Chapters include:

• Getting started
• Purchasing options
• Selling Equity
• Leaving your company
• Previously recorded webinars for your company
  
  
  
  
  

2. Video player page with remaining videos in the chapter

3. 'Recommended for you' videos on the portfolio page

4. Schedule a session button on the portfolio home page

You can now easily schedule a 1-1 session with your Carta Tax Advisor, directly from your portfolio.

5. Coming soon: Recommendations will be driven by your 1-1 conversation with a Carta Tax Advisor!

What do I need to do?

You can access the new feature directly from your portfolio, or navigate to the ‘Learn’ page in the navigation bar.

Have questions? Contact product@carta.com.

Today we’re making design improvements to the RSU Modal to make it easier for holders to understand the value of their equity. 

What is changing? 

RSU holders now can see a summary view of their securities in the details tab, including an overview table with units breakdown. Also, double trigger RSUs are no longer stuck in a zeroed state, they can now see a breakdown of vesting information, including time-vested amounts.

Changes to the Details tab of the RSU Modal

RSU holders will see the following information on the RSU details page: 

1. Original quantity / Issued: Total amount of RSUs granted on the issue date
2. Released for settlement: The number of vested units that have been part of a settlement event
3. Delivered: The number of shares ultimately delivered to the holder as a result of converting the RSU, after any shares withheld by the issuer as payment for the holder's tax obligation
4. Withheld at settlement: The number of shares that have been withheld to cover taxes at settlement
5. Partially-vested amount: eligible for settlement when performance is hit, or the the total number of shares time vested, and available for settlement
6. Remainder: Resulting number of shares from original quantity, after subtracting settled and withhold amounts 

The bottom of the details tab will now include an employee education modal, which will be used to surface important education about their RSUs. 

Changes to the Vesting Schedules tab of the RSU Modal 

Now, holders can see the cumulative values for all vesting conditions applicable to their RSUs, which can be time or milestone based, with or without additional performance conditions.

We’ve updated the Vesting Schedules tab to account for the following scenarios (screenshots of each below):

1. Double trigger RSU (Based on time and an additional condition)
2. Double Trigger RSU (Based on milestones and an additional condition)
3. Single Trigger RSU (Based on time)
4. Single Trigger RSU (Based on milestones)
5. RSU has been terminated or expired

Double trigger RSU (Based on time and an additional condition) 

Double Trigger (Based on milestones and an additional condition) 

Single trigger (Based on time)

Single trigger (Based on milestones)

RSU has been terminated or expired

Visit the resource center for more details

Have additional questions? Check out support.carta.com to learn more.

What's new?

Take control of your investor communications with proactive scheduling.

What’s valuable about this change?

Specify the date you want notices to be shared with your investors for capital calls or distributions, and your Fund Admin team will proactively schedule the notification. 

What do I need to do?

When you request a capital call or distribution in-app, you can choose an Issue date. This will be the date notices are sent to your LPs. 

How do I learn more or get help?

Reach out to your account manager or talk to one of our representatives today.