I'm not sure what country you're in, but in many countries there are legal benefits to structuring the equity participation as options. These can include that t

I'm not sure what country you're in, but in many countries there are legal benefits to structuring the equity participation as options. These can include that the employee is not required to be an accredited investor (e.g. millionaire) and that there can be tax benefits (incl. 83b election in the u.s.), and less paperwork-filing requirements. So in most cases, it is normal that the structure is options. In some cases restricted stock is used. Typically the options can convert into stock at a cheap price. I think a sign-on bonus would be very unusual. Have you worked at a startup before? Congrats on receiving the offer -- best of luck!