NFL announces 33 compensatory draft picks for 2016

The NFL has announced the full slate of compensatory draft picks for the 2016 NFL Draft. A total of 33 picks have been awarded to 13 different teams based on a formula of free agents lost versus free agents acquired during the previous year's offseason.

A total of four teams are receiving coveted third-round compensatory picks, the highest any team can receive as part of this formula: the Detroit Lions, New England Patriots, Seattle Seahawks and Denver Broncos.

Compensatory free agents are determined by a formula based on salary, playing time and postseason awards, and not every player lost or signed by a team falls under the formula. For instance, the Lions are among the teams getting a third-round selection and given that they lost Ndamukong Suh last offseason, it's easy to see why. He would factor heavily into the equation.

The Broncos lost players like Julius Thomas and Orlando Franklin, the Patriots lost guys like Darrelle Revis and Akeem Ayers and the Seahawks lost Byron Maxwell and Malcolm Smith, among others. None of those teams had significant gains in free agency, which is why they ended up with high compensatory picks.

Below we have a full list of the picks as announced by the NFL.