The equity payout happened within a few days of the official close. It was a wire transfer. Understand that the public announcement is often different than the actual close.
You are asking about equity but make sure you actually have that. I’m constantly surprised by people saying they have “stock” in a company when it’s only options.
If you have actual equity, check if it meets the requirements for Qualified Small Business Stock (QSBS)
If you have equity, you may not get all the payout immediately. Often a percentage of the purchase price of the company is held in escrow for some period of time usually 12 to 24 months, to handle various things that come up. Everyone who owns actual equity has that same percentage of their payout withheld. Depending on what happens you may not get any of that money. Even if you get it all payed out in 24 months time, no interest is paid
If you have stock options, the acquiring company may just buy them out. Basically instead of you having to exercise your options, cut the purchased company a check to buy them, only to have the acquiring company cut you check for your shares, they just buy out your shares for the per share price, minus your strike price. The net financial result to you is the same, with less paperwork. This is not a decision individuals in the company make themselves. Its defined as part of the acquisition. If so this payment comes in via direct deposit like normal compensation.
Depending on your situation consider using a CPA for your taxes for the tax year the acquisition occurs in. You don’t want to mess this up.
Find a CPA that has worked with people who have had equity events. Most CPAs have never dealt with something like this. If you are high enough to have been part of due diligence you met the lawyers for your company. They can usually recommend a CPA who can handle it
A few other thoughts:
Fight the temptation to ask other people how they did in the acquisition. There will always be people that made more than you. If you learn specific numbers for others, you can try hard to not be jealous, but it can be corrosive. It’s better not to know.
There are many good articles on managing a windfall. Read them and follow the advice that works for you