I believe, based on what I've been told by the folks I know on the list, that it's the top 5%. I'm not 100% certain of that. I do know that my name is not up there, and I'm not in the top 5%, so it could be true. :) Maybe it's the top 10%? I can't remember how many people are on it. In any case, I'm pretty sure it's all based on class rank.

Beyond that, I think it comes at the end of the year.

You've now exposed me. I don't know everything!