The Charlotte Hornets signed swingman Jeremy Lamb to a contract extension on Monday ahead of the deadline for teams to sign former first-round picks to extensions during the fourth and final year of their rookie contracts.
The Hornets didn't disclose terms, but the contract is worth three years and $21 million, according to league sources.
Lamb was the 12th overall pick in the 2012 draft by the Houston Rockets and spent the past three seasons in Oklahoma City after going to the Thunder as part of the James Harden megatrade in October 2012. The Hornets acquired him in late June in a trade for Luke Ridnour and a 2016 second-round pick. Lamb will be just 27 when he returns to free agency in the summer of 2019 after his new deal runs its course.
"We were thrilled with the opportunity to add Jeremy Lamb to our roster this past summer," Hornets general manager Rich Cho said in a statement. "Through the preseason and start of our regular season, Jeremy has proven to be the type of player and professional we seek here in Charlotte. We're excited to have him as a part of the Hornets for years to come."
Lamb becomes the sixth eligible player at the end of his rookie scale contract to have secured an extension since the negotiating window opened July 1. Fellow All-Stars and franchise cornerstones Anthony Davis and Damian Lillard scored lucrative five-year max deals from New Orleans and Portland, respectively, while Toronto's Jonas Valanciunas (four years, $64 million), Charlotte's Michael Kidd-Gilchrist (four years, $52 million) and Milwaukee's John Henson (four years, $44 million) also landed extensions.
The Hornets also picked up the fourth-year option on forward Cody Zeller's contract.
ESPN's Marc Stein and The Associated Press contributed to this report.