The latter. ETHGlobal received 240k, for which 190k went to EthGlobal and 50k went to hackers (number yet unknown). Immunefi received 350k for which, 238k remains unspent (and would not count here), and 112k was sent to hackers, and Immunefi retained 10% of that (an earlier version of the table incorrectly put all 102k as towards Immunefi, which you might have seen).
Depending on the amount of hackers that got EthGlobal rewards, theirs would be collectively the largest recipient of ENS, followed by EthGlobal themselves.
As mentioned in the other discussion, this table might not cover organizations that did not receive a payout in the timeframe but are worthy of governance tokens, and doesn’t judge recipients based on their active participation, and that is on purpose to make this particular program as direct and nonjudgmental possible. I hope other distribution programs could be done to cover that difference.