The Baltimore Ravens are expected to receive a third-round compensatory pick in this year's draft after losing guard Kelechi Osemele in free agency last offseason, according to Over The Cap. Compensatory picks are traditionally announced in March.

This would mark the third time that the Ravens got a third-round compensatory pick (which is the highest a team can receive for losing a free agent). Baltimore was awarded third-round picks in 2008 (for losing linebacker Adalius Thomas) and in 2014 (linebacker Paul Kruger). The Ravens used those extra selections on offensive lineman Oniel Cousins (2008) and tight end Crockett Gillmore (2014).

The Ravens could use this extra third-rounder to move up in the draft. This marks the first time that teams can trade compensatory picks.

Kelechi Osemele signed a five-year, $58.5 million deal with the Raiders as a free agent. Thearon W. Henderson/Getty Images

Baltimore, which has been awarded the most compensatory picks since the system began in 1994, will only receive one this year. The Ravens lost three unrestricted free agents (Osemele, quarterback Matt Schaub and linebacker Courtney Upshaw) and signed two (safety Eric Weddle and tight end Ben Watson).

Osemele, a second-round pick of the Ravens in 2012, became the highest-paid guard in the NFL last March when he signed a five-year, $58.5 million deal with the Oakland Raiders. His $11.7 million average per season is nearly $4 million more than what Baltimore gave Marshal Yanda.

In his first season with the Raiders, Osemele became a first-team All-Pro and made his first Pro Bowl. He was the fourth-highest graded guard by Pro Football Focus.

The Ravens replaced Osemele with rookie Alex Lewis, who was taken in the fourth round. Lewis is expected to remain at left guard this season.

Baltimore currently has seven picks in the upcoming draft, one in each round. The Ravens have the No. 16 overall pick in the first round.