The NFL has announced the compensatory picks for the 2013 NFL draft this afternoon, and the Titans were awarded three picks as expected. Picks are awarded using a formula based on players lost and players signed in free agency the prior year.
Those picks will come in the 3rd, 6th and 7th round. Having that extra third round pick is very valuable for the Titans because it will give them some flexibility to move up if there is a player they really like in the first or second round.
They cannot trade the comp pick, but having it in their back pocket might make them more likely to trade their other third round pick.
The Titans also now have a 6th round pick. They didn't have one before because they traded it last year to get back into the 7th round and draft Scott Soloman. That is one move that I don't think anyone will ever be able to figure out.