How are number of stocks in an equity grant calculated?

I have a few offers with equity grants that are mentioned in their USD value. I wanted to know how the number of stocks are calculated. Say, if I have a grant of 100K USD. What price would determine the total number of stocks I get.

  • Price when I sign the offer letter
  • Price when I join
  • Price when stocks are allotted(Like if a chunk of it is given every quarter, the price at that time)
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