Got an offer for Redfin with confusing wording in offer letter. Can any employee explain?

Hey all, got an offer at Redfin but it has some weird wording. I already rejected the offer because I wasn't able to extend the deadline any longer and had a better offer, so the recruiter stopped responding to me. But I wanted to know so that I could negotiate better my other offers better.

There's a section in the offer letter about performance grants that says:
"Annual performance grants will be awarded in November of each year to approximately 32% of equity-eligible employees who meet or exceed the outlined performance expectations. Performance grants will be set to 22%, 44%, or 88% of the grant a new-hire into your role would receive."
Wtf does this mean? So of all the employees that meet or exceed expectations, only 32% of those get the grant? And I'm assuming that depending on your performance, you will either get 22, 44, or 88 percent? Can any Redfin employee explain? Or if anyone else has some insight, please do tell.

YOE: 2.5
TC: $98k
Offer: $220k

#redfin #offer #performance #grant #confusing