The Panthers placed Penny on the reserve/retired list Tuesday, Art Stapleton of The Bergen Record reports.
There are always a few retirements this time of year, with players realizing they're unlikely to earn a roster spot and don't have much of a future in the league. Penny was a first-round pick for Seattle back in 2018 but played only 45 games over six NFL seasons amidst a slew of injuries. He had a memorable stretch at the end of the 2021 campaign, amassing 135 or more rushing yards four times over the final five weeks, but his 671 rushing yards during that stretch represent 34.4 percent of his career total.