The stock option issue is a matter of contract, so depending upon the precise terms of the employee's contract with the employer (if there is one), or the employer's stock option policy (if it rises to the level of a binding contract), the employee may be able to make a claim for the stock options... or the employee may be out of luck.
Unfortunately for the employee, the only way to get a meaningful answer is to have a lawyer in his state review the relevant documents and policies. There is no statute or regulation that can provide an answer without such a review, as the issue turns on contractual rights and duties.

