Looks fairly regular to me, seems to happen to multiple players in most draft classes.
2003 #16 pick - Troy Bell, waived in 2nd year
2003# 26 pick, Ndudi Ebi, waived in 3rd year
2004 #10 pick - Luke Jackson, waived in 3rd year
2005 #12 pick - Yaroslav Jorolev, 3rd year option not picked up
2005 #29 pick - Wayne Simien, 3rd year option not picked up
2006 #9 pick - Patrick O'Bryant, 3rd year option not picked up
2006 #10 pick - Mouhamed Sene, waived in 3rd year
2006 #15 pick - Cedric Simmons, waived in 3rd year
2006 #19 pick - Quincy Douby, waived in 3rd year
2006 #22 pick - Marcus Williams, waived in 3rd year
2007 #17 pick - Sean Williams, waived in 3rd year
2007 #25 pick - Morris Almond, 3rd year option not picked up
2007 #29 pick - Alando Tucker, waived in 3rd year
2008 #8 pick - Joe Alexander, 3rd year option not picked up
2009 #11 pick - Terrence Williams, waived in 3rd year
2009 #22 pick - Victor Claver, waived in 3rd year
2009 #30 pick - Christian Eyenga, waived in 3rd year
2010 #21 pick - Craig Brackins, 3rd year option not picked up
2010 #24 pick - Damion James, 3rd year option not picked up
2010 #25 pick - Dominique Jones, waived in 3rd year
2010 #29 pick - Daniel Orton, 3rd year option not picked up
2010 #30 pick - Lazar Hayward, waived in 3rd year
2011 #11 pick - Jimmer Fredette, waived in 3rd year
2011 #21 pick - Nolan Smith, 3rd year option not picked up
2012 #13 pick - Kendall Marshall, waived in 2nd year
2012 #27 pick - Arnett Moultrie, waived in 3rd year
2012 #29 pick - Marcus Teague, waived in 3rd year
2013 #1 pick - Anthony Bennett, waived in 3rd year
2013 #30 pick - Nemanja Nedovic, waived in 2nd year
Note on the guys waived, some were waived before the start of the season, some were waived during the season. I did not distinguish between the two, as either way they still get their full guaranteed money for that year, and it really comes down to rosters spots. A team with a full roster waives the guy before the start of the season, and team with roster spots keeps the guy until after the trade deadline. So for instance if James Young gets waived tomorrow or after the trade deadline, I would have put waived in 3rd year as he's still getting that full 3rd year money.
And that's not an all inclusive list as I tried not to include Celtics or major injuries (Oden) or outstanding, unusual circumstances like Julius Hodge getting shot, or the Royce White or Javaris Crittenton situations.