LTSE Equity Release Notes - 2022

Form 3921 Readiness. LTSE Equity helps you validate all stakeholder details, grants, exercises and fair market valuation history to ensure that all copies of Form 3921 can be properly and accurately completed. Once validated you can export all compiled form values to pass on to your tax preparer or an online service to file and/or distribute to stakeholders.
Milestone based vesting. Any security that supports vesting schedules can now vest by named milestones.
Updated convertible securities terms. Convertible securities now have capitalization terms for more accurate record keeping and modeling.

Bulk stock issuance. If you have multiple drafted grants, you now have the option to save time by issuing all drafted stock grants at once.

Custom vesting timelines. For any more advanced or hybrid vesting timelines and terms, you can simply create a custom vesting timeline that defines specific tranches and amounts received.
Compounding interest on convertibles. Convertibles can now select between simple interest or compounding interest on daily, weekly, monthly or annual frequencies.

Vesting acceleration. Accelerated vesting events are now supported on securities with vesting schedules.
Multiple vesting schedule rounding options. We now support more standards in rounding for vesting schedule tranches: front loaded, back loaded, cumulative round down, cumulative round up. If you know what these are, you’ll be happy to know we now support them!
Sortable columns. When viewing stakeholders or securities you can now easily sort columns to order by any property. This can be super useful if you want to order by date, or security type, or any other number of properties.
Revamped exit waterfall modeling. We’ve made our waterfall modeling more easy to use and understand. We’ve also introduced the ability to save multiple scenarios.

Bulk editing of securities. You can now bulk edit stock option grants (issued and drafts), stock grants (issued and drafts), warrants, and convertibles. You can select multiple securities and edit them all at once with our intuitive editor.
Action items. Admins, signatories, stakeholders now have a central place to view all pending securities awaiting signature or acceptance. For admins, incomplete onboarding tasks are also conveniently accessible.

Employee departure workflow. We’ve made automating employee departures/terminations much better. Now you can trigger the departure of a specific employee, and automate the handling and messaging of their security milestones. This includes automatically stopping vesting, automatically communicating and enforcing the last date to exercise and converting relationship status.

OCF Export. LTSE Equity is a founding member of the Open Cap Table coalition, who have collectively developed an open standard for company equity data. LTSE Equity is now able to export data in this standard OCF format.
Better Round Modeling. We’ve improved the design, calculations and capabilities of our round modeling tool. You can now easily save and load different scenarios, and easily model different convertible investments as part of a round.
Bulk edit of stakeholders. Now admins can easily select and edit multiple stakeholders at once. This can be especially helpful if it’s been a while since updating your cap table.
One-time 409A Pass. Companies that need a 409A valuation but don’t use LTSE Equity as their cap table management platform can now simply sign in and pay for a one-time valuation. Companies can always upgrade to one of our plans for additional cap table management features, or for recurring annual 409A valuations included.

Request an exercise. Stakeholders with option grants can now directly request to exercise their vested options.
Mobile stakeholder experience. Stakeholders can now view their holdings in a dedicated mobile version of our application.
Technical improvements

Return shares back to a stock plan upon repurchase. Stocks being repurchased that were originally issued from exercises can now be returned back to the original source stock plan.

Revised company sign up flow. Signing your company up to LTSE Equity is now much faster and easier.
Draft and mark stock grants as issued. You can now quickly draft and mark a set of stock grants as issued for your records. This is useful if you’ve issued these grants and need to simply record the grant in an issued state.
Support MFN SAFEs in round modeling. SAFEs with Most Favored Nation clauses can now be modeled in our round modeler so you can see their impact on your cap table after a raise and in context of all other investments from a round.
Export round modeling scenarios. You can now export our round models, including a pro-forma cap table based on possible investments to save offline or share.
Bug fixes & performance improvements

Add document sets on stock grants. Stock grants can now have pre-configured document sets added to easily and quickly add multiple documents to multiple grants.
Modular imports. Now you can easily bulk add stakeholders, stock, stock options, warrants, and convertible instruments with an intuitive interface. This makes it really easy when it comes to hiring new employees or if it’s been a while since updating your cap table.
Support YC deal/investments (MFN SAFE) & onboarding. For our YC Companies, we support the new 2022 deal, and have made it easy to add your YC investments to your cap table. We’ve also added support for SAFEs with MFN terms.
Support Techstars investments & onboarding. We now support special onboarding steps that make it easier for Techstars companies to add their initial accelerator investments.