An acquisition is a change of control that occurs when your company is purchased by another company.

The two most common types of acquisitions are all-cash, where the acquiring company simply cashes out all your equity based on the acquisition price; and cash and stock, where you receive a cash payout upfront and also have a portion of your shares converted into new equity of the acquiring party. Though you don’t get much of a choice in either of these acquisition types, the latter type’s stock component gives you more to consider down the road.

Employees with looming acquisitions should plan ahead to fully understand the implications at play. That includes working with someone who can answer the questions you’ll inevitably have, who has experience guiding others through similar situations, and who can help you plan for what comes after the acquisition.