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2022 NFL Free-Agent Signings, Trades Grades for Thursday's Major Moves

On the first day of the new league year Wednesday, NFL teams had to comply with the salary-cap limit before 4 p.m. ET, which added another dimension to the free-agency frenzy.

Some teams released notable players to get under the cap threshold, while other clubs made big splashes after two days of low activity through the legal tampering period.

After Randy Gregory and J.D. McKissic backed out of agreements before the league ratified their deals, Za'Darius Smith became the third player to do so when he decided not to sign with the Baltimore Ravens Thursday, per NFL Network's Ian Rapoport.