>They aren't options and you just get them whenever the company goes public. But they are completely illiquid before then. Many companies now have a buyback me

>They aren't options and you just get them whenever the company goes public. But they are completely illiquid before then. Many companies now have a buyback mechanism where the employer will buy back your RSUs at a pre-determined price (often the price per share in the last priced round). Although the vesting schedule is the same as if it were options, the contracts often have a clause where technically the RSUs have not vested, in order to avoid capital gains taxes on a (fairly) illiquid asset.