Heyward did a standard base salary and roster bonus to signing bonus conversion and will still make $10.5 million in 2021.
The Steelers still need to create a fair amount of cap space for this offseason, so expect more moves in the coming weeks.
Heyward, 31, is a former first-round pick of the Steelers back in 2011. He was entering the final year of his six-year, $59.2 million contract that included $15 million guaranteed when he signed a four-year, $71.4 million extension in 2020.
Heyward was set to make a base salary of $4.5 million in 2021.
In 2020, Heyward started 15 games for the Steelers and recorded 54 tackles, four sacks, one interception and three pass defenses. Pro Football Focus has him rated as the No. 6 interior defender out of 126 qualifying players.