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 2021, Shepard has appeared in three games for the Giants and caught 16 passes for 207 yards receiving and one touchdown.
We will have more news on Shepard as it becomes available.