BALTIMORE -- General manager Mike Elias stated earlier this week that he was optimistic the Orioles would sign outfielder Vance Honeycutt -- the club’s first-round pick in the 2024 MLB Draft -- before Thursday’s 5 p.m. ET deadline to do so.

With a little more than six hours to go, Baltimore got the deal done.

Honeycutt, who was selected at No. 22 overall, signed with the O’s on Thursday morning, the team announced. The 21-year-old out of the University of North Carolina received a signing bonus of $4 million, a source told MLB Pipeline’s Jim Callis, which was above the assigned slot value of $3,802,200.

It’s the first time the Orioles have gone above the slot value to sign a first-round Draft pick since Elias became the GM prior to the 2019 season.

“It’s a super exciting day, super exciting last couple of weeks obviously,” Honeycutt said. “Just kind of felt like that part of your journey, the chapter is kind of closing and then you're going to get to start a new chapter, but just trusting in the process.”

“We're happy that this got done and good that Vance can get on his way with the Orioles,” said agent Scott Boras, who represents Honeycutt.

Although Baltimore has taken a position player in the first round in each of Elias’ first five Drafts at the helm -- with four coming from the college ranks -- Honeycutt has a bit of a different skill set than his predecessors. He has a tremendous combination of both power and speed, and he’s also a strong defender in the outfield.

Honeycutt recorded 65 home runs and 76 stolen bases over 176 games during his three-year career at UNC. In order to take the next step offensively, he’ll need to cut down his strikeout rate, as he fanned 224 times in 855 plate appearances for the Tar Heels.

Asked to compare himself to an active MLB player, Honeycutt didn’t have an answer.

“I don't know if there's a specific player that I can -- I think I just kind of possess a unique combination of speed and power, and I like to think I play the game the right way,” Honeycutt said. “Just work hard every single day off the field, and trust that preparation on it.”

It’s the second year the O’s have taken a player in the first round who could have a future as a center fielder, as they selected Enrique Bradfield Jr. (the club’s No. 4 prospect per MLB Pipeline) out of Vanderbilt University at No. 17 last year. Who’s the better defender -- Bradfield or Honeycutt?

“We'll find out. They're both fantastic defensive players,” said Matt Blood, the Orioles’ vice president of player development and domestic scouting. “It's sort of like going to a really nice restaurant and trying to choose between the best two things on the menu. So, I really don't have a straight answer for you on that one, but they're both a lot of fun to watch play out there.”

Bradfield and Honeycutt are far from the only talented position players in Baltimore’s system.

The O’s have developed a strong track record of churning out talented, young players in recent years. Adley Rutschman, Gunnar Henderson, Jordan Westburg, Colton Cowser and others were all players drafted by Elias who are now having success at the big league level.

Honeycutt is looking forward to getting to work soon, as he’ll report to the Orioles’ complex in Sarasota, Fla., and begin his professional career. It may not be long before he gets into game action for Single-A Delmarva.

“Obviously, I’ve heard nothing but great things about the player development and those guys that have came through the system,” Honeycutt said. “So, super excited to just have an opportunity to be able to do that. Looking forward to getting going.”