Skip to content
  • There are no suggestions because the search field is empty.

Release Notes - 2026

September 19, 2026

General Updates

  • Equity Financing Workflow: We now automatically display the original investment amount tied to each convertible when recording an Equity Financing. This update helps users mark the correct convertibles for conversion without leaving the conversion step in the workflow.
  • Send Invite to Users: We've updated the Send Invite workflow to give you more visibility into who you're inviting. Each user's role and current invite status now appear directly in the workflow.
    You can also reissue invites to previously invited users and update email addresses in bulk without leaving the flow, which makes inviting users faster and easier.
  • Pulley Onboarding: We've introduced a new onboarding experience designed to simplify the transition from Pulley to our platform. Clients can now provide their existing cap table and supporting equity documents to a dedicated implementation specialist, who will convert them into our cap table format, reducing the manual effort required to get started. This enhancement helps companies get up and running on FPS quickly without interrupting their day-to-day equity operations 

August 22, 2026

General Updates

  • Daily Diligence Email Format: Improved the formatting and readability of daily diligence emails. Updates include clearer activity organization, streamlined timestamps, and direct links to relevant Data Room folders when applicable.
  • Option Agreement Expiration Date: The stock option agreement template has been updated so the Final Expiration Date is described as the day before the 10-year anniversary of the grant date, after 11:59 p.m. in the time zone set for the company. Fidelity Private Shares uses this time and date to determine and update the status of the grant. Previously, expiration was listed as 5:00 p.m. Eastern Time in the document template.
  • Convertible Notes: A transferred convertible note that is later amended now tracks the updated investment amount. This improvement aims to provides more accurate reporting and visibility into investment activity.
  • 409A Workflow: Information entered in the "Provide Company Information" steps of the 409A workflow is now retained even if the workflow is reverted to an earlier step. This helps prevent data loss and reduces the need to re-enter information.
  • Workflow Navigation: Updated the workflow progress indicator with a modern, responsive dot-and-line design that adapts to different screen sizes. Workflow steps are now should be easier to view and navigate, even in workflows with many steps.

August 8, 2026

General Updates

  • Termination Workflow: The Termination workflow has been updated to request a post-termination window (PTE) only when applicable, helping ensure users are only asked to fill out relevant details.
  • Data Room Access: We have updated the default access settings for external users in the Data Room. External users are now restricted from viewing document history, access details, and permission settings unless they are granted additional permissions.
  • Equity Promises: The system now guards against an equity promise being both canceled and granted. The Promise Report now indicates when a promise is being canceled or granted, showing a distinct status indicator and hiding the Grant and Cancel action buttons until the in-progress workflow is complete. These changes help ensure it is clear what state an equity promise is in, enabling users to track and act on their equity promises.
  • HEIC File Conversion: We now support uploading HEIC files and automatically convert them to a PDF for storage in the Data Room. This allows more types of information to be added and shared with investors or others when Data Room access is granted.
  • Bulk Stock Class Conversion: The Exchange of Stock workflow has been renamed to Stock Class Conversion, and users can now capture bulk conversions through the use of an Excel file or set up a full stock class conversion. This enhancement allows users to more efficiently record large updates to their cap table, helping to save time and reduce the need for manual data entry.

July 25, 2026

General Updates

  • Stock Restriction Agreements: The document template for a Stock Restriction Agreement that is used when granting shares outside of a plan now includes the specific share class name for the award (e.g., Series A or Class B), rather than a generic "Common Stock" designation.
    • Client: Radix Systems
  • ASC 718 Lockdown: We've updated the Cancel Grant workflow to reduce unnecessary ASC 718 discrepancy warnings. Warnings are now triggered only when a grant's cancellation date overlaps with an ASC 718 report, helping ensure alerts are more relevant and actionable.
  • Form I-9: We've updated the Form I-9 to the latest version (valid through May 31, 2027), helping support compliance with current U.S. employment eligibility verification requirements.

June 27, 2026

General Updates

  • Plan Utilization: Improved summary calculations on the Plan Utilization report. The total row correctly aggregates values from all preceding rows for more accurate reporting.
  • Transfer and Sale Date: Transfer and secondary sale workflows now only accept certificates that were active on the transaction date, helping prevent invalid submissions and rework. Bulk secondary uploads now use the same validation for a more consistent experience.
  • Repurchase: Repurchases can now be processed for vested shares in addition to unvested shares that were early exercised. This enhancement supports a broader range of repurchase scenarios, providing greater flexibility when managing share repurchases after a participant's termination.
  • Invalid Emails: When sending to an address that has been identified as non-deliverable, invalid email addresses are automatically tracked in the Invalid Emails report. When sending to an address that has been identified as invalid, users are now prompted to provide a replacement email address before continuing which helps reduce failed email deliveries. Users can also remove an email from the Invalid Emails report if the email is valid.

May 30, 2026

General Updates

  • Stock Certificates: When issuing or reissuing stock certificates, the checkpoint step now includes a Download Certificate Summary action that generates a fresh Excel file on demand, which prevents stale data when there are changes. The Excel file is generated when there are 20 or more certificates, making them easier to review.
  • Equity Promise Report: Equity promise exports now support custom vesting schedules.
  • Cap Table Summary View: When the ownership summary filter is selected, summary lines now stay consolidated instead of expanding into individual stakeholder rows.
  • Next Round Planner: The pre-money ownership pie chart no longer shows the new round stock class and now reflects only true pre-money ownership. The pre-money chart shows the existing ownership structure, and the post-money chart shows the projected ownership after the new round closes.
  • User Identifier: You can now add and manage a user identifier on stakeholder profiles to make record matching more consistent across key reports and exports. This gives you a more reliable way to track and reconcile stakeholder data using work email, employee ID, or a custom ID.

May 16, 2026

General Updates

  • Team Management: We now prevent unapproved members from being set as Primary Managers until their accounts are approved. This ensures unapproved team members can not be set, thereby causing an approval issue.
  • Milestone Vesting in ASC 718 Reporting: Added flexibility when working with milestone grants. You can now go back from the 'Confirm Settings' step to the 'Review Conditional Grants' step to add or update grant vesting details before final confirmation.

May 2, 2026

General Updates

  • Stock Certificates: When issuing or reissuing stock certificates, the checkpoint step now includes a Download Certificate Summary action that generates a fresh Excel file on demand, which prevents stale data when there are changes. The Excel file is generated when there are 20 or more certificates, making them easier to review.
  • Equity Promise Report: Equity promise exports now support custom vesting schedules.
  • Cap Table Summary View: When the ownership summary filter is selected, summary lines now stay consolidated instead of expanding into individual stakeholder rows.
  • Next Round Planner: The pre-money ownership pie chart no longer shows the new round stock class and now reflects only true pre-money ownership. The pre-money chart shows the existing ownership structure, and the post-money chart shows the projected ownership after the new round closes.
  • User Identifier: You can now add and manage a user identifier on stakeholder profiles to make record matching more consistent across key reports and exports. This gives you a more reliable way to track and reconcile stakeholder data using work email, employee ID, or a custom ID.

April 18, 2026

General Updates

  • Equity Award Acceleration Amount: The Grant Shares and Amend Grant workflows now include an additional 25% acceleration amount option when selecting the amount to be accelerated under the acceleration clause.
  • Stock Ledger Export: Users will be able to export the stock ledger and choose how the spreadsheet is structured: either one combined tab or separate tabs by class.

April 4, 2026

General Updates

  • Data Room Permissions Modal: We improved the Data Room Permissions modal so the save and cancel buttons stay visible at the bottom of the screen when scrolling through a long list of permissions. 
  • Companies and Firms exports: Excel exports from the Companies and Firms page now include all records that match the current filters, not just the first page of results. This applies to both companies and users.
  • "Stock Option Exercise (Upload Only): We updated the grant selection step so fully exercised grants no longer appear in the dropdown. Users will now only see grants that are still exercisable, making grant selection clearer and reducing selection errors.

March 21, 2026

General Updates

  • Grant Shares Workflow Email Editing: The Grant Shares or Options Under Stock Incentive Plan and Grant Shares Outside of Stock Incentive Plan workflows now allow editing of the stakeholder email at the Checkpoint.

March 7, 2026

General Updates

  • My Equity for Multiple Roles: We've fixed an issue where users with multiple roles at a company were not being taken to the correct view when clicking the My Equity link. The user's selected role will now be accurately reflected when navigating to My Equity.
  • Change Board Members: The board member change workflow has been improved to better handle resignations and removals. When a board member is removed, you'll now receive a prompt to also run the termination workflow if they have left the company. 
  • Workflow Administration Improvements: The workflow administration page now includes an unsaved changes warning that prompts users before navigating away, preventing accidental loss of work. Additionally, the save button now remains visible when scrolling.
  • RSU Settlement: The exercise report now includes RSU Settlements, providing a complete view of equity activity alongside stock option exercises.

February 21, 2026

General Updates

  • Cap Table Export Updates: We made two enhancements to the Cap Table export.
    • The Grants Tab now includes a column to display the total shares exercised for each grant. 
    • We added extra columns for settled and outstanding RSU to the RSU tab of the Cap Table export.
  • Ignored Users in Finch Integrations: When integrating with your HRIS system through Finch, you can now choose to exclude specific users from any updates using the Ignored Users setting. 

February 7, 2026

General Updates

  • Plan Utilization Report Enhancements: We enhanced the Plan Utilization Report to improve clarity and usability. Report fields are now collapsible, allowing users to simplify the display and focus on the data most relevant to them. We added a new Shares Available column to provide an at‑a‑glance view of remaining authorized shares, as well as a visual bar chart to help clients easily compare shares available versus shares utilized across any selected time period.
  • Finch Email Verification Experience: We’ve improved how email verification works to reduce unnecessary or unexpected verification emails. When work or personal email addresses are added through integrated HR systems or HR uploads, verification emails are no longer sent automatically.
  • Stock Split Handling for Advisor Agreements with Equity Promises: We improved stock split processing to ensure seamless handling for agreements associated with advisors with an equity promise.
  • Finch HR Upload Workflow: The HR Upload workflow has been updated to accept both the format used in the Finch integration and the standard HR employee import format when the Finch integration is enabled. The user may pick the template format that matches their upload template.
  • Equity Financing Note Conversion: We enhanced the Equity Financing workflow to support selecting individual notes rather than converting all notes at once.
  • Termination Workflow Email Verification: We added an option to skip the email verification step, allowing termination processes to complete even if the employee does not verify their new contact information.
  • Stock Incentive Plan History: We added a Plan History section to the company profile to track approved reserved shares over time, with links to related plan documents.

January 24, 2026

General Updates

  • Uploaded Form I-9 Access: Uploaded Form I-9s are now automatically marked as documents containing sensitive information.
  • Merge Inactive Duplicate Users: Duplicate entries for individuals in your company can now be merged. This is now available in the User Directory. Only inactive users (i.e., users who have not activated or logged in to their account) in your user directory are available to be merged. 
  • IRS Form 83(b): We updated the IRS Form 83(b) Election to the 2025 version.
  • User Approval Permissions: For clients utilizing the user approval feature, if there are pending new user approval requests and all of the designated approvers are removed, the system will automatically approve all outstanding requests. This update prevents workflows from becoming blocked when the next step requires approval but no approvers have been set. Messaging has been added to the User Approval Settings screen to explain that users will be automatically approved until at least one approver user is added.
  • User & Firms Directory Report Export: Filters for the Users & Firms Directory Report are now applied to the downloaded report as well.
  • Start Date Change Workflow: The Start Date Change workflow Wait for Employee Signature step now allows for uploaded employee signature pages.
  • Form W-4 Update: We updated the IRS Form W-4 to the 2026 version.

January 10, 2026

General Updates

  • HR Connection: We’ve improved the onboarding experience by adding a clear indicator for the wait time while Finch connects with your HRIS provider. This update helps set expectations and ensures a smoother integration process.
  • Directory Export Update: We’ve added a Status column to the Users and Companies export files to make it easier to see account and relationship states. This update improves clarity and ensures you have complete information when reviewing stakeholders and entities
  • Bulk Secondary Sales and Transfers: We’ve rolled out bulk upload capabilities for secondary sales and transfers, allowing you to upload multiple transactions at once.
    • Saves time: No more repetitive, individual uploads for multiple data entries.
    • Reduces errors: Bulk processing ensures consistency and fewer mistakes.
    • Optimized for growth: Built to support larger companies handling complex equity data.
    • How it helps you: Streamlines your workflow, boosts data accuracy, and accelerates onboarding to Fidelity Private Shares.
  • Terminology Update: We’ve updated all references of “Bridge Note” to “Convertible Note” throughout our platform, including workflows, reports, and planning tools. This change aligns with current market standards and ensures consistent, clear terminology for a better user experience.
  • Data Room Folder Permissions: When you share a parent folder, all child folders are now clearly marked with a grayed-out check mark to indicate they inherit the same sharing permissions. This improvement makes sharing behavior more transparent and easier to understand.