Last week the compensatory pick period of free agency ended in the NFL. There were conflicting reports about the actual day, but it is now over.
Compensatory picks are allotted based on a complicated formula. Nobody knows exactly what that formula is, although sites like Over the Cap have figured out pieces of it and put together relatively accurate predictions. The bottom line is teams that lose more than they gain in free agency are given extra picks in the next year's NFL Draft.
From this point forward, free agents will no longer figure into that equation. That means the Jets can sign players and not be hurt in the formula. During the Draft, Mike Maccagnan stated the team is projecting a fourth round pick.
This also does mean free agents the Jets lose will not work in their favor. If players like Ryan Fitzpatrick or Willie Colon find a new team, the Jets will not benefit.