Stock options are NOT equity. Stock options are just options to purchase stock (usually at a reduced rate) Options must be exercised in order to turn them into equity (stock) What you might be thinking of are RSUs or Restricted Stock Units. These are stock but as the name implies, with restrictions (usually on the requires holding period and sale)
Sorry to hear about your case but options are a gamble and have risk wether purchased on the options market or awarded by an employer. It’s why I always advise to ignore options as part of any pay package. If they pay off great, but it will be years before you know and about 2/3 of options expire worthless.