4:52pm: Zimmer signed for a $3MM bonus, reports Jim Callis of Baseball America (Twitter link).
4:07pm: The Royals have announced the signing of right-hander Kyle Zimmer, their first round pick (and the fifth pick overall) from the 2012 amateur draft. Terms of the deal were not announced, but the slot value for the fifth overall pick is $3.5MM. The Royals have already gone over slot on one pick today, third-rounder Colin Rodgers.
Zimmer, 20, was considered to be a prospect who could be on a relatively fast track to the big leagues. He is expected to make a few starts for the Royals' Arizona Rookie League team before heading to a higher-level minor league club. Zimmer has only been pitching since his freshman year at the University of San Francisco but possesses a strong curveball and a fastball that can reach the mid-90's.