The only other unsigned Broncos rookie, Dalton Risner, has agreed to a four-year, $7-million deal with $3.2 million guaranteed, sources told Klis.
Denver selected Risner, who's projected to start at left guard in 2019, with the No. 41 overall pick in the draft and then traded up to select Lock with the 42nd pick.
Lock's agent is reportedly seeking a "quarterback premium" in his deal, which is common for pivots selected in the first and third rounds of the draft. However, quarterbacks taken in the second round since 2014 have not received a premium.
Negotiations with Risner reportedly stalled as the left guard didn't want to accept less money than a player who was drafted behind him did, which would be the case if Lock receives the premium. However, it seems the two parties resolved their issues.
It's unclear if Lock will make the first meeting for rookies on Wednesday or the team's first training camp practice on Thursday.
Denver traded its No. 52, No. 125, and No. 182 overall picks to the Cincinnati Bengals to draft Lock.
Broncos general manager John Elway said veteran Joe Flacco holds the team's starting QB role and Lock "has a lot left to work on."