Question regarding employee stock options

I need some serious help understanding my employee stock options. I am receiving 10000 shares over the next 4 years. My offer letter specifically states “Common Shares” but talking to fellow employees, it seems like its options, and not RSUs or direct shares. Seems like I only make money if the stock goes up from the strike price, and If I want to actually own the shares, I have to buy them with my own money. I was told when the board meets next, a strike price will be decided for my shares. Anyone with experience and get help break it down in simple terms would be greatly appreciated.