How to use the Minimum Disclosures Report

PIUs outstanding table in minimum disclosures report

Profits interests outstanding table

The "Profits interests outstanding" table refers to all activity for Profits Interest Units (PIUs) within the reporting period. This table is conditional and will only appear in your report if your company has issued PIUs.

The values from this table can be calculated by using the Tranches tab of the Minimum Disclosures report and filtering for the PIU award type.

⚠️ Key Considerations for PIUs in Financial Reporting:

Fair Value: The report uses the intrinsic value method by default to calculate PIU expense. This calculation relies on the Financial Reporting Value (FRV) stored for your company. If the resulting expense in the report does not match your accounting requirements, you can override fair value assumptions for your PIUs.
Partial Repurchases: When a PIU is partially repurchased, the initial grant is canceled and a new grant is issued for the remaining balance. This process can lead to an inflated "Issued" number in the table if both the original PIU and the balance interest are issued within the same reporting period. However, the system accurately prevents double-counting of expenses, and a clarifying note is added to the Tranches tab to let you know the expense for a tranche has already been recognized.

Field descriptions

Field name	Description
Outstanding, start	The total number of PIUs outstanding on the first day of the reporting period.
Unvested outstanding, start	The number of unvested PIUs outstanding (i.e., not canceled or forfeited) as of the first day of the reporting period.
Vested outstanding (PIU), start	The number of vested PIUs outstanding (i.e., not canceled or forfeited) as of the first day of the reporting period.
Issued in period	Total number of PIUs granted during the reporting period where the effective date is within the reporting parameters. Note: This will also include new "balance" certificates created as a result of a partial repurchase.
Issued out of period	Total number of PIUs granted where the effective date is outside the reporting parameters but entered into Carta within the report record dates.
Changed due to performance conditions in period	Total number of PIUs that changed due to performance conditions recognized within the report record dates.
Changed due to performance conditions out of period	Total number of PIUs that changed due to performance conditions recognized outside of the report record dates but entered into Carta within the report record dates.
Vested in period	Total number of PIUs that vested within the reporting period.
Vested out of period	Total number of PIUs that vested outside of the reporting period but were entered into Carta within the report record dates.
Repurchased in period	The total number of vested PIUs that were repurchased by the company where the transaction effective date is within the reporting period.
Repurchased out of period	The total number of vested PIUs repurchased where the transaction effective date is outside the reporting parameters but entered into Carta within the report record dates.
Forfeited (unvested) in period	The total number of unvested PIUs that were canceled or returned to the pool (e.g., via termination or repurchase of unvested units) where the transaction effective date is within the reporting period.
Forfeited (unvested) out of period	The total number of unvested PIUs that were canceled or returned to the pool where the transaction effective date is outside the reporting parameters but entered into Carta within the report record dates.
Expired (vested) in period	The total number of vested PIUs that were canceled (e.g., via termination) where the transaction effective date is within the reporting period. This does not include repurchases.
Expired (vested) out of period	The total number of vested PIUs that were canceled where the transaction effective date is outside the reporting parameters but entered into Carta within the report record dates.
Outstanding, end	The total number of PIUs outstanding on the last day of the reporting period. This is calculated as: Outstanding, start + Issued + Changed due to performance condition - Repurchased - Forfeited - Expired.
Unvested outstanding, end	The number of unvested PIUs outstanding (i.e., not canceled or forfeited) as of the last day of the reporting period.
Vested outstanding, end	The number of vested PIUs outstanding (i.e., not canceled or forfeited) as of the last day of the reporting period.
Weighted average grant date fair value	The weighted average grant date fair value of a group of PIUs, weighted by the units in each transaction.