Per the Collective Bargaining Agreement, compensatory picks are awarded to teams that lose more and/or better free agents than they gain during the respective signing period. The league then uses a formula to award compensatory picks between the third and seventh rounds.
Interestingly enough, this year’s Super Bowl participants were among the biggest winners in terms of compensatory picks. The New England Patriots (four overall compensatory picks) and the Los Angeles Rams (three) each received two additional selections at the end of the third round.
Mickey Spagnola takes a look at the “best” option for the Cowboys at 58th overall.