Jensen, a former sixth-round pick, signed a four-year, $42 million contract with the Tampa Bay Buccaneers in March. Under NFL rules, a team is eligible for draft pick compensation when it loses more qualifying unrestricted free agents than it signs. Players who are released do not qualify.
With the 39th and final selection of the third round, the Ravens now own three of the top 102 picks and eight overall entering April's NFL draft. They previously had a first-round pick (No. 22) and third-round pick (No. 85); the team traded its second-round pick to the Philadelphia Eagles in the draft-day deal last year that netted the No. 32 overall pick, which was used to take quarterback Lamar Jackson.
The Ravens also have two fourth-round picks — including one they recently acquired from the Denver Broncos in their pending trade for quarterback Joe Flacco — one fifth-round pick and two sixth-round picks.
This is the third straight year in which the Ravens have been awarded just one compensatory pick, after receiving three each year from 2013 to 2016. The team has been awarded 50 extra selections since the system started in 1994, eight more than the next-closest teams. In determining pick compensation, the league's private formula considers salary, playing time and postseason honors.
Last year, the Ravens took tackle Greg Senat and center Bradley Bozeman with sixth-round compensatory picks. Tight end Nick Boyle and defensive end Brent Urban, both pending free agents, along with defensive tackle Willie Henry were also selected with compensatory picks.
Former Ravens wide receiver Mike Wallace, who signed with the Eagles last season, qualified for pick compensation, but his injury-shortened, two-game season did not merit a seventh-round selection.