[Editor’s note: This post was last updated at 6:05 p.m. ET on May 2, 2014.]
The 2011 labor deal creates an annual May 3 deadline for the exercise of the fifth-year option on first-round player contracts. Every draft pick gets a four-year contract; teams can choose to extend the deal for first-round picks to five years by exercising an option that gives the player a salary guaranteed for injury only until the following March, when it becomes fully guaranteed.
For the first ten players taken in round one, the salary reflects the transition tender that applies in the player’s fourth year; that number comes from the average of the 10 highest-paid players at the player’s position. For the next 22 players, the option-year salary arises from the average of the third highest-paid player at the same position through the 25th highest-paid player at the position, calculated in the player’s fourth year.
Here’s an update on the status of each first-round pick from 2011.
1. Cam Newton, Panthers: Option exercised.
2. Von Miller, Broncos: Option exercised.
3. Marcell Dareus, Bills: Option exercised.
4. A.J. Green, Bengals: Option exercised.
5. Patrick Peterson, Cardinals: Option exercised.
6. Julio Jones, Falcons: Option exercised.
7. Aldon Smith, 49ers: Option exercised.
8. Jake Locker, Titans: Option not exercised.
9. Tyron Smith, Cowboys: Option exercised.
10. Blaine Gabbert, 49ers: Option not exercised.
11. J.J. Watt, Texans: Option exercised.
12. Christian Ponder, Vikings: Option not exercised.
13. Nick Fairley, Lions: Option not exercised.
14. Robert Quinn, Rams: Option exercised.
15. Mike Pouncey, Dolphins: Option exercised.
16. Ryan Kerrigan, Redskins: Option exercised.
17. Nate Solder, Patriots: Option exercised.
18. Corey Liuget, Chargers: Option exercised.
19. Prince Amukamara, Giants: Option exercised.
20. Adrian Clayborn, Buccaneers: Option not exercised.
21. Phil Taylor, Browns: Option exercised.
22. Anthony Castonzo, Colts: Option exercised.
23. Danny Watkins, formerly of the Eagles and Dolphins: Not eligible for option.
24. Cameron Jordan, Saints: Option exercised.
25. James Carpenter, Seahawks: Option not exercised.
26. Jonathan Baldwin, 49ers: Baldwin’s restructured contract for 2014 eliminated the option.
27. Jimmy Smith, Ravens: Option exercised.
28. Mark Ingram, Saints: Option not exercised.
29. Gabe Carimi, Falcons: Not eligible for option.
30. Muhammad Wilkerson, Jets: Option exercised.
31. Cameron Heyward, Steelers: Option exercised.
32. Derek Sherrod, Packers: Option not exercised.