What an acquisition or IPO does to each class of holder, the preference stack and its effect on common equity, accelerated vesting clauses, earn-outs and their tax, spreading disposals across years, and negotiating a senior package: base, bonus, equity, notice and restrictive covenants. An exit planning checklist is maintained.

What this section covers

• What an acquisition or IPO does to each class of holder
• The preference stack and its effect on common equity
• Accelerated vesting clauses and earn-outs
• Spreading disposals across tax years
• Negotiating a senior package clause by clause

New articles are published under Tax and Reliefs, Package Negotiation, Founders.