Event 3 is entering level 3, and only 3 rebuys have taken place during the first 40 minutes. This number should grow exponentially as the blinds get bigger, and we should see a avalanche of them towards the end of level 5, which will be 200/400/a200 and your last chance to buy chips at the table. Following level 5 will be the first break, at which point the Event will turn into a Freezeout.
Photographs from levels 1 and 2:
