Many times, the last note is played by everyone, it sounds like the band stays tight, stops and starts together.
The guitarist in my one cover band even gave me suggestion as to how he hears the last note played. When he plays the final chord, it's usually not full stop after the hit, he slides down the neck. When we end a tune, you play the hit together but then the drums play ANOTHER hit when the guitar finishes its slide. I hit with bass drum and cymbals, and the second hit it a four-stroke ruff with snare, toms, kick...the "bucket-of-fish" lick, if you will. Or two sixteenths on the floor tom and a eight note on the kick, like ba-da bumm. Or, flam on the snare and kick, two sixteenths, "plack-umm"
Once in a while I let the cymbals ring after the final chord and do nothing after. Some times, though I am playing with horns, and if I don't give them a release note, it sounds unprofessional, anyone stops whenever. Playing the final chord and giving it a "point" keeps the band in line. It just sounds "professional"
There are plenty of examples in all genres of music. Take the ones you like and cop those. You need to hear the ones you don't like, so you know what not to do in your playing. I always liked how Tony WIlliams would end tunes, big toms rolls and a crash with a "ba-bum" from his bass drum. I have adopted in my playing how he used to play holds, the note before the final note. A lot of guys hit the note and start to go crazy, playing every lick they practiced in that 10 second time frame before the final note is finally played. What I found out, again with my cover band, is that the guitarist was doing all the crazy stuff, and with me on top of it sounded like a right mess. So what I do, that I heard Tony do, is play the second to last note, big crashes on cymbals, then nothing...let the cymbals die down, I play nothing for 3-5 seconds max...then I bring in my crashes on a single stroke roll with the bass drum going as fast as a "roll" also (easier with double pedal). I basically treat it like my big drum chord, and because can't play whole notes like a horn player can, I roll the big note. When the guitarist is done with his wank-fest, I come in with a big crash and I go crazy to slowing down in the span of 5-7 seconds...I'm setting up for the band to play the final note. We all hit the note together, and as the guitars slide that chornd, then I play "bucket-of-fish" to finally end the tune, no one playing after. Clean attack.
Whew!! Good thing it's quicker to play than to write!