Actually, this time she's said outright stock as opposed to stock options, which while better is still not worth it.
Honestly, you'd think that as her email quoted our previous exchanges (so she evidently just hit reply on an old one), she would've noticed the fact that I have a Masters degree in International Business, and that I actively teach this stuff. It's like she assumes that because we run a Pokémon site, that we must not actually be very savvy with finances.