They meet in the Batcave every Thursday night, actually, with a cold beer for a game of poker. They bet with applicants as poker chips
Sorry it didn't answer your question but the thought was humoring for me. A mindset that helped me when I was stressing about not knowing during my 2016 application was "I can't control if or when I get my envelope. I won't stress about it because no amount of worry will get me in any sooner. Instead I'll focus my energy on my application to these scholarships & colleges in case it falls through"
Passed time much faster and I got notified via call as soon as I was about to start several essays for Texas A&M Engineering scholarships. There were several posts about the next notifications and it was concluded that they're going to be much more scattered than these initial 500. There is no next "wave", so you can be notified any time from now until June 29th. Keep strong!