If your league locks players after they are dropped (as controlled by the commissioner on the Waivers/Free Agents Setup screen), this report will appear and display a list of recently dropped players.

If you cannot find a player on a franchise rosters or in the free agent's listings, then most likely the player will appear in this report.

NOTE:  Only the commissioner will be able to see and use the 'Unlock This Player' to clear an individual player's locked status.