It was for the benefit of ALL classes. There were other classes above Class 19 & Class 22 (collectively, Equity). The waterfall didn't reach any further than Class 18, with Class 18 not even being paid in full.
Class 19 & Class 22 were never issued LTIs so it's a mute point. And, i don't see the connection between us and Paladin. So, you can choose to entertain that idea.