Her stock options are tied to whatever the Theranos board decides, and she has full board control. So she can make her options tied to whatever she wants.

No, I don't know her net worth for certain, but it isn't a stretch to say that she comes from wealth. It's a lot easier to get wealthy people to give you a ton of money if you're also wealthy.

Just about the only thing a majority shareholder cannot do is vote themselves a massive pay rise, violating their fiduciary duty to the minority shareholder's equity stakes.