It doesn't seem like it. My read is that 50% of the windfall is distributed evenly and 50% is distributed according to the existing equity disbursement. It's like a basic income. It's designed so that in a company of N employees, no one gets less than 1/2*N of the payout.

It's a great idea because it means that average employees will actually be motivated by the equity; let's be honest, 0.05%, vesting over 4 years, of a 100-person company isn't enough to motivate anyone except for a starry-eyed young kid on his first startup.

If Silicon Valley ever wants to grow up and remain innovative, that's the sort of thing we'll need. A 0.05% slice is just a bonus and, compared to Wall Street, a pretty weak one.