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Every year the NFL awards compensatory draft picks that supplement the 224 draft picks in the regular draft.
The compensatory draft picks are awarded to teams losing more or better compensatory free agents than they acquired. The number of comp picks a team receives equals the net loss of compensatory free agents up to a maximum of four per team.
The Cowboys played their cards right in free agency last year and got four comp picks in return.
2016 @NFL compensatory draft picks announced. @dallascowboys @Patriots @49ers awarded 4 each https://t.co/pGTvqpm7E4
— Michael Signora (@NFLfootballinfo) March 11, 2016
The Cowboys now hold the following four compensatory picks:
4th round: 37th pick (135th overall)
6th round: 37th pick (212)
6th round: 41st pick (216)
6th round: 42nd pick (217)
Despite previous reports to the contrary, compensatory picks may not be traded this year. A rule change approved by clubs in 2015 will permit compensatory draft picks to be traded beginning in 2017.