Schmid signed a two-year, $4 million contract with the Panthers on Friday, per Elliotte Friedman of Sportsnet.
Schmid and Florida managed to avoid an arbitration hearing by agreeing to this deal. The 26-year-old netminder had a 16-10-6 record, 2.59 GAA and .893 save percentage in 34 regular-season appearances with Vegas in 2025-26. Florida acquired him from the Golden Knights on June 29 in exchange for a 2028 third-round pick. Schmid is likely to serve as the Panthers' No. 2 netminder behind Jacob Markstrom (undisclosed).