These days*, the equity component of most** offers takes the form of RSUs, not options, i.e. when the equity vests, you just get stock (public or private).
*, ** For some definition of "these days" and "most", based on first-hand factual knowledge of the FAANGs (except Netflix with their special approach to comp), various "unicorns", and a long list of US-based companies modeling themselves on and/or aspiring to be the next FAANGs and unicorns.
*, ** For some definition of "these days" and "most", based on first-hand factual knowledge of the FAANGs (except Netflix with their special approach to comp), various "unicorns", and a long list of US-based companies modeling themselves on and/or aspiring to be the next FAANGs and unicorns.