I don't see anything under the "official" wis guide and this is from the unofficial guide:
SIGNING PREFERENCES:
Players are programmed to want to sign at different times - not everyone signs right away. In fact, probably only 5% of the players sign on the first cycle after signings start, with more signing each cycle.
Whenever: Will now have about 50% chance of signing at some point in period 1 and 50% chance in period 2.
As Soon as Possible: They will definitely sign by the end of period 1, unless no team is high or very high.
By the end of period 1: Almost all will sign by the end of period 1, with odds increasing each cycle.
Late: None will sign in period 1, but almost all will sign by the end of period 2, with odds increasing each cycle.
The way it is worded makes it just seem Late signer means 0 chance in period 1 and in period 2 the odds increase each cycle
But now the question is since the odds increase each cycle do they start a 0% chance for the first cycle of period 2, or does it start off with a low chance like .05% chance of signing the first cycle?