The NFL is meeting in Orlando, and probably the most of-interest item there will be the announcement of the distribution of compensatory selections for the 2014 NFL Draft. The Steelers are expected to receive three or four picks, with the most likely one being a third-round pick for the loss of wide receiver Mike Wallace to the Miami Dolphins last season.
NFL expected to announce compensatory draft picks today. Eagles aren't expected to get any.— Paul Domowitch (@pdomo) March 24, 2014
The Steelers don't currently have a third round pick, having traded it to Cleveland for the rights to select Syracuse safety Shamarko Thomas last year. It was assumed part of the Steelers' desire to pull the trigger on the deal to move up in the fourth round last year was the probability of getting a third round pick for Wallace.
Compensatory picks are given based on a proprietary formula in which players who depart via free agency equate into picks in the next year's draft based on the size of the contract they signed, among other criteria.