Two somewhat significant moves were made by the Colts today, starting with the waiving of UDFA safety Micah Pellerin.
Taking Pellerin's spot on the roster is cornerback Korey Lindsey, a seventh round pick by the Bengals in 2011. Lindsey was cut by the Bengals before training camp, and then was claimed by the Arizona Cardinals, which whom he spent most of his time on the practice squad.
The Colts also made progress on their 2012 draft picks' contracts today, signing T.Y. Hilton to a four-year deal, according to Jason Cole of Yahoo! Sports (and then confirmed by Irsay a little while later). This leaves Andrew Luck, Coby Fleener, and Dwayne Allen unsigned.
Again, I urge fans not to be worried over the time it is taking to get these rookies signed. Only seven of the 32 teams have currently signed all of their picks, and four teams have yet to sign any of them. Fleener and Allen have been very energetic participants in OTAs, and Luck has expressed significant displeasure in the fact that he is unable to attend. The Colts are in no way in danger of long holdouts over contracts for their rookies, or anything that would cause them to miss time with the team.
Not only am I not worried about all the rookies being signed, I remember the days when we didn't even start signing draft picks until mid to late July. I also remember it being mentioned around May 12th that there had been more draft picks signed by that date then between 2005-2010 combined.
Kind of interesting that Pellerin got cut first I thought he had a better shot at lasting longer than Matt at safety.