The Packers lost CB Casey Hayward and backup QB Scott Tolzien as free agents last year and did not sign any qualifying free agents with expired contracts. Based on the language of the NFL's announcement, it appears the fifth-round pick is compensation for Hayward only, and Tolzien did not rank high enough amongst the free agents who changed teams to count in the compensatory formula.
The formula takes into account the length and size of the contract the player signed with his new team, plus playing time and any league honors earned.
Green Bay's compensatory choice will come at the end of the fifth round, in effect giving the Packers a pair of fifth-round picks.