New York converted $5.985 million of Shepard’s base salary this year into a signing bonus that will be spread out over the remainder of his contract.
Shepard, 28, is a former second-round pick of the Giants back in 2016. He was entering the final year of his four-year, $5.944 million rookie contract when he agreed to a four-year, $41 million extension that includes $21.3 million guaranteed.
Shepard is set to make base salaries of $8.475 and $9.475 million in the final two years of his deal.
In 2020, Shepard appeared in 12 games for the Giants and caught 66 passes for 656 yards receiving and three touchdowns.