No, people who've been vaccinated are still supposed to follow the same precautions as everyone else. The test subjects are supposed to be a cross section of the population by age, race, gender, etc. Some have frontline jobs where they normally experience high exposure, some are leading more isolated lives. Some are carefully following mask mandates, others are not. They are divided into two groups and half get the vaccine while the other half get a placebo. Nobody receiving or giving the shots knows which ones are placebos and which ones are vaccines.
The theory is that if the vaccine is 0% effective, then once there have been 100 cases among the test subjects, ~50 will be in the placebo group and ~50 will be in the vaccine group. These people were randomly assigned to groups and the groups are large enough that the number of people exposed in each group should be about the same. Since they're saying that the test so far shows 94% effectiveness, that means that among the first 100 cases, 3 were in the vaccine group and 97 were in the placebo group. If you expected 50 people to get sick, and only 3 actually got sick, you prevented 94% of the infections.