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Saints don't receive any compensatory draft picks in 2020 -- what gives?

The NFL announced its allocation of compensatory picks in the 2020 NFL Draft, with 15 of the league’s 32 teams receiving extra selections in this year’s cycle. The New England Patriots led the way with four additional picks, but as usual, the New Orleans Saints were not counted in that number.

What’s the deal with that? Why don’t the Saints ever bag another pick here or there? The exact formula for awarding compensatory picks isn’t something the NFL makes public, but the analysts at Over The Cap have done a great job of approximating it in recent years.