Philadelphia trades Ryan Ellis to San Jose for Carl Grundstrom and Artem Guryev, plus a conditional 2026 sixth round pick that will be the earlier of the Flyers' or Columbus' slot. Ellis departs after a short, injury plagued run in Philly. The move reshapes Philly defense and adds young forwards to the mix while San Jose absorbs Ellis under a likely LTIR plan as it evaluates the long contract.

Ellis was a Nashville No. 11 pick who helped the Predators win in 2017 and later joined Philly, where injuries limited him to four games across four seasons. The Flyers increase draft depth to five picks in 2026 as they flip Ellis into Grundstrom and Guryev, and San Jose relations suggest a longer term strategic move on the cap hit of the eight year, $50 million deal.

In exchange, Grundstrom and Guryev join Philadelphia with the expectation of immediate bottom six and depth role while Ellis heads to San Jose for the next chapter of a career defined by pedigree and injuries. The swap underscores how teams balance future assets with veteran cost for a franchise reshaping its roster and cap structure.