The Bears have formally signed first-round NFL draft pick Colston Loveland to a four-year contract with a fifth-year option. The team announced the deal on Thursday, on the eve of their rookie minicamp.

They also inked four-year deals with fourth-round linebacker Ruben Hyppolite, fifth-round defensive back Zah Frazier, sixth-round offensive lineman Luke Newman and seven-round running back Kyle Monangai. Those contracts do not contain fifth-year options.

These contracts are easily agreed upon due a well-structured NFL rookie wage scale that assigns compensation based upon draft slot. The Bears still have second-round offensive lineman Ozzy Trapilo and defensive lineman Shemar Turner unsigned, though those contracts should be done before the end of a three-day rookie minicamp that runs through Saturday.

Per OverTheCap.com, Loveland should make $26.6 million over the life of the four-year deal. He’ll get an estimated $16 million signing bonus and count $4.84 million against this year’s salary cap.

Loveland was the No. 10 overall pick and the highest tight end taken, but that didn’t impede this deal getting done.

The Bears have been praised for the Loveland selection, despite many draft analysts having Tyler Warren rated higher. He eventually went No. 15 to the Indianapolis Colts. Loveland’s an ideal fit for the Bears under head coach Ben Johnson’s offensive scheme, that uses tons of two-tight end sets.

“With Colston it starts more with the person than the player,” Johnson said after the draft. “I love the tape, but when you get to know him as a man, it’s really intriguing. It’s who we want to be going forward. He stands for high football character and IQ. When we went to Michigan everyone was raving about him, you could tell he was very well respected. Going from Idaho to the big stage, he didn’t bat an eye.

“I do see a lot of comparisons to (Lions tight end Sam) LaPorta, but that’s not just on the field, that’s off the field as well. The stage was never too bright for LaPorta, and I felt that same thing with Colston the first time I met him. He doesn’t bat an eye, he performs at a high level, and where we are going in this organization, we need guys who are going to rise up to the occasion and he’s going to do that for us.”

Loveland is currently recovering from shoulder surgery after he played through the injury during his final season at Michigan. He won’t participate in on-field work during rookie minicamp, but he should be ready for training camp.