The New Orleans Pelicans are trading guards Jordan Hawkins and Micah Peavy to the Memphis Grizzlies for guard AJ Johnson and veteran big Taj Gibson, sources told ESPN's Shams Charania.
The Pelicans are also sending a second-round pick and a second-round pick swap to the Grizzlies. The trade opens a roster spot for New Orleans and creates the financial flexibility to seal Bennedict Mathurin's two-year, $16-million deal, Charania adds.
The trade saves the Pelicans $5.7 million in salary, according to ESPN's Bobby Marks.
A 2023 lottery pick, Hawkins joins Memphis following a three-year spell in New Orleans. The 24-year-old's usage declined in 2025-26, and he recorded career lows in points (5.1), rebounds (1.7), and minutes (13.6).
New Orleans took Peavy with the 40th pick in the 2025 draft. He appeared in 61 games as a rookie, averaging 4.3 points in 15 minutes per contest.
Johnson, 21, has now been traded three times in the calendar year and four times since being selected 23rd overall in the 2024 draft by the Milwaukee Bucks.
Gibson, 41, is the NBA's second-oldest active player behind LeBron James and will join the ninth franchise of his 17-year career.
