Ethan Conrad has signed on the dotted line.

Conrad, the Chicago Cubs’ 2025 first-round draft pick (No. 17 overall), agreed to a $3,563,100 signing bonus with the team Friday, as MLB Pipeline senior writer and Marquee Sports Network contributor Jim Callis reported.

Conrad, a 21-year-old outfielder from Wake Forest, signed for well below the No. 17 pick’s $4,750,800 slot value.

The Cubs have a total bonus pool of $9,636,800 to sign their picks in Rounds 1 through 10 — the 21st largest among all MLB teams. Picks made in Rounds 11 through 20 can sign for $150,000 without counting against the bonus pool, but any amount over that would.

Saving $1.1 million from their bonus pool with the Conrad signing allows the Cubs to target several high schoolers they drafted on Day 2.

Chicago used a fourth-round pick on Kaleb Wing, a right-handed pitcher out of Scotts Valley High School in California, and a sixth-round selection on Josiah Hartshorn, an outfielder from Orange (Calif.) Lutheran High School. Wing (Loyola Marymount) and Hartshorn (Texas A&M) have committed to college baseball programs, but the Cubs likely hope to use the extra bonus pool money to sign either one or both to an over-slot signing bonus that allows them to forego school.

This isn’t the first time the Cubs have signed a first-round pick for below slot value and tried to use the extra money to hook high school talent. In 2014, Chicago signed No. 4 pick Kyle Schwarber for a similar number, giving the then-Indiana University catcher a $3.5 million signing bonus, under the $4.6 million slot value. The savings went to three high school pitchers the Cubs took in Rounds 4 through 6 — Carson Sands, Justin Steele and Dylan Cease.

Wing entered the draft as the 87th-best prospect, per MLB Pipeline. His father was a second-round pick of the Chicago White Sox in 2001, reaching Triple-A, and Kaleb was supposed to hit and pitch at Loyola Marymount. Wing’s No. 121 pick has a $623,000 slot value, though the Cubs likely must spend significantly more to sign him.

Hartshorn, ranked 108th by MLB Pipeline, was 181st overall, with a $355,800 slot value. He shared top honors at the MLB High School Derby in 2024, and MLB Pipeline called him the steal of the sixth round.

Conrad signed with Chicago after a collegiate career at Marist and Wake Forest, and he slashed .372/.495/.744 in 21 games for the Demon Deacons in 2025 before suffering a season-ending shoulder injury. MLB Pipeline ranked Conrad the 28th-best prospect in the draft, though Cubs fans likely must wait until 2026 to see him make his Cubs organization debut because of his injury.