Schmid will become an unrestricted free agent after not receiving a qualifying offer from Vegas, but he could still sign a new deal with the team, Elliotte Friedman of Sportsnet reports.
Schmid was acquired from the Devils on Saturday in a trade that sent Logan Thompson to New Jersey. Schmid went 5-9-1 last year with a 3.15 GAA and an .895 save percentage in 19 regular-season appearances. Should he sign a new deal with Vegas, he'll likely be the primary backup behind Adin Hill.