According to ESPN.com's Rob Demovsky, the Packers won't exercise their 2015 option on Tackle Derek Sherrod. Sherrod, a 2011 first-round draft pick, has been eligible for a fifth year with the team since signing his rookie contract, something that obviously won't be happening now.
Anyway, Demovsky points out in his article that, beginning in 2011, all first round picks did get 4-year deals with options for fifths, so I guess this move really isn't that surprising. The decision on whether or not that final year will be picked up had to be made by this weekend, so the Pack making this announcement now wasn't exactly random.
Also, considering that Sherrod is somebody with a history of injuries, keeping him probably wouldn't have been the smartest thing to do. So far in his career, the former Mississippi State star is yet to start a regular season game, breaking his leg in December 2011 (causing him to miss the entire 2012 season) before playing just meaningless 6 snaps all of last year.
Interestingly, the Packers keeping Sherrod through 2014 would result in him being paid a pretty hefty $7.438 million, another factor that probably helped their front office reach this decision.