[vkou]

Yes, you're right, RSUs are better as a signing bonus, in a bull market. (In a bear market, plus a harder job market, you would have been better off locking cash in for your comp - if switching jobs after a year would not get you an equivalent RSU/cash grant)

Once the four year vesting cliff is done, though, the annual top-ups aren't much different from cash (Because if the stock inflates fantastically, you will get fewer RSUs next year).