I think there is a very obvious reason to not give the rank and file stock options, which is that the hard work of Janitor #1654 no matter how much they make urinals sparkle is not going to make a meaningful difference to their compensation or bottom line. It's only as most of your compensation becomes stock options, and you have great influence over the future of the company, where being paid in stock options instead of salary ought to have a real effect on behaviour.