The Chicago Cubs signed Indiana catcher Kyle Schwarber, who was selected fourth overall in the first-year player draft, the team announced Wednesday.
The Cubs had an allotment of $4.6 million for their first-round pick, but came to an agreement at $3.125 million, according to MLB.com.
Schwarber is one of three finalists for the Johnny Bench Award, presented to the top Division I catcher in the country. He batted .358 with 14 home runs, 48 RBIs and a .659 slugging percentage in his junior year at Indiana.
The Cubs announced that Schwarber will report to their Rookie league affiliate (Boise) on Friday.