Many investors change jobs or retire and roll their 401k plans into IRA accounts.   What if you own company stock?   You'll have to make a decision.  Most plans will cash the stock out and allow you to roll the proceeds or you may be allowed to roll the company stock into a brokerage IRA.   If you have a sizeable amount with low cost basis you could roll these shares into a taxable brokerage account and take advantage of net unrealized appreciation (NUA).  NUA allows you to pay taxes at a lower rate.  It's a complex topic, be sure to speak with your tax advisor.

The Wall Street Journal explains the basics of NUA distributions.

First, to review: A little-known tax break known as net unrealized appreciation, or NUA, lets you withdraw your company stock from your 401(k) plan and move it into a taxable brokerage account. The same calendar year, you withdraw the rest of your assets from the company plan -- most likely moving that balance into an individual retirement account to continue deferring taxes. To be able to do this, you must have a triggering event, typically reaching age 59½ or leaving your job. (For more information, go to www.irs.gov and look up the instructions for Form 4972 and Publication 575.)