The 49ers are projected to earn three compensatory picks in the 2026 NFL Draft.

The San Francisco 49ers have been cautious with free-agent signings this year, and there’s a good reason for that.

It’s not about being cheap. The team made significant investments in extending George Kittle and is preparing for an even bigger payout to Brock Purdy, who is expected to become the highest-paid player in franchise history. Once Purdy’s salary hits \$50 million or more per year, the 49ers will face a tight cap space and will need to rely heavily on draft picks to build their roster, which is where compensatory picks come in.

Compensatory picks are awarded to teams that lose more players to free agency than they sign. This year, the 49ers lost several key players, including Aaron Banks, Charvarius Ward, Jaylon Moore, Dre Greenlaw, Talanoa Hufanga, and Joshua Dobbs, while making only a few major signings, such as Luke Farrell, Demarcus Robinson, and Mac Jones.

NFL.com’s Lance Zierlein predicts the 49ers will receive three compensatory picks in 2026—two in Round 4 and one in Round 5. Zierlein notes that the team’s free-agent losses, including Banks, Ward, and Hufanga, should yield valuable compensatory picks.

The 49ers waited until after the draft to make additional signings, like offensive lineman D.J. Humphries and tight end Ross Dwelley, which doesn’t count toward the compensatory pick formula. This strategy helps maximize their draft capital, which is crucial for their long-term roster-building efforts.