It's more common than you think. I was an early engineer at ZenPayroll (now Gusto) and they split the stock 10-to-1 in their last round.
As the company grows and the value of the stock goes up, it becomes difficult to give granular stock options.
Rarely publicized because it doesn't mean anything. Owning 5/1000 shares or 50/10000 is the same.
