The Jacksonville Jaguars aren't exercising the fifth-year option for linebacker Devin Lloyd, a source told ESPN's Jeremy Fowler.

Lloyd's fifth-year option was projected to be worth $14.75 million for 2026, per Spotrac. He's now slated to hit free agency after the 2025 season.

Selected 27th overall in the 2022 draft, Lloyd has been a three-year starter for the Jaguars, recording at least 113 tackles in each campaign. He's totaled 355 tackles, four interceptions, one forced fumble, and two sacks over that span.

Lloyd finished the 2024 campaign with 113 tackles, two sacks, one interception, and one forced fumble.