Can Shares/Share Options be granted to a contractor?

I hope this is the right section to post this.

I have just come back from a job interview with a start up company. I think they are interested in me, however during the interview i was muted that other staff were taking some of their renumeration in stock, and some of them were taking pure stock rather than any salary.

I cannot afford to do this, but I am prepared to put 2/3 of the package I suggested, giving me 20-24k in base salary and the rest in stock.

I want this job (as well as need it), so I want to explore whether I can put together a solution that will pay me the amount above reducing the employment costs to the company, but still let me enjoy in the shares in some form or another.

The solution that I am considering is to see if I could go to them on a contract basis at say, £2k per month. I would pay for my expenses as I can claim them back against tax - its a sales/marketing role so I would be home based/travelling with only about 1 day in their office per week. Within the contract would be bonuses that would be based on personal and company performance that would be paid in the form of stock or stock options.

Can I further complicate my enquiry on here by saying I'm coming upto 57, I have occupational final salary pension that I don't want to touch, but would be looking to establish a SIPP that these share would be purchased by. What I am trying to establish is whether my thoughts are a) legal, b)worth exploring further or c) a definate non runner and d) whether there might be any other options I might consider.

Thanks in advance for any help!