The Panthers informed Thompson, who was set to become an unrestricted free agent, that they will not be re-signing him.
The 30-year-old has been with the Panthers for a decade, but has been limited to just six games over the last two seasons because of injuries. He was the team's first-round pick in 2014 and ranks fourth in team history with 752 tackles, behind only Thomas Davis, Luke Kuechly and Mike Minter.
"We appreciate Shaq's leadership and dedication over the past 10 seasons," Panthers general manager Dan Morgan said in a statement. "Always a source of passion and enthusiasm, he was committed to this organization on and off the field, poured into his teammates, and strived to bring out the best in them. We wish Shaq the best as he moves forward with his career."
Thompson, a Sacramento native and alumnus of Grant Union High School, appeared in 123 games in his 10 seasons with Carolina.
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