NBA first-round picks typically get four-year contracts. The first two seasons are guaranteed. The third year is a team option that must be decided as the second season begins. The fourth year is a team option that must be decided as the third season begins.
If all goes well, players get both options exercised then sign either an extension after their third year or a new contract in restricted free agency after their fourth year.
Because rookie-scale contracts are relatively cheap, it’s not particularly noteworthy when players have their options exercised. It’s generally expected.
Fred Katz of The Athletic:
The Wizards have declined the fourth-year options on Jerome Robinson and Moe Wagner, sources tell @TheAthleticDC.
— Fred Katz (@FredKatz) December 28, 2020
Washington had an easier time declining these options because the decisions don’t carry the usual implicit admission of error. The Wizards drafted neither player. They got Wagner when the Lakers were clearing cap space to pursue Kawhi Leonard and Robinson when neither the Clippers nor Knicks wanted to end up with him in the Marcus Morris trade.
Both Robinson and Wagner will become unrestricted free agents next summer.
Robinson has neither scored nor distributed well in the NBA. The guard is not nearly good enough defensively to overcome that.
Wagner has shown a little more as an offensive big who can hold up defensively by taking charges. But he hasn’t looked athletic/strong enough for the NBA.