Pettway (undisclosed) was removed from the Colts' injured reserve Thursday with an injury settlment, per the NFL's transaction log.
Pettway spent the previous two seasons in the USFL and was looking transition into an NFL career. However, he suffered an undisclosed injury early in camp and was subsequently waived/injured by the Colts before reverting to their IR. The injury settlement means he can now look for a new opportunity once his health allows it.