The deal reportedly has an average annual value of $3.25 million. "Mario has shown that he is a dynamic and reliable defenseman for our club, skating top-level minutes against the best competition every night and delivering solid results," said Sharks GM Mike Grier. "His energy and work ethic are the reason why he has achieved so much in his early part of his career, and we look forward to watching him continue to grow and elevate his role on the team." Ferraro registered two goals, 14 points, 49 shots, 151 blocks and 140 hits in 63 games during the 2021-22 season. 

Ferraro had been sidelined with a fractured fibula. He has two goals and 11 points in 48 contests this season.

The Sharks brought up Santeri Hatakka from the minors in a corresponding move. Ferraro underwent surgery on Sunday to repair a fracture in his lower left fibula. He is slated to be sidelined for six-to-eight weeks. Ferraro has two goals, 11 points, 37 shots, 127 blocks and 101 hits in 48 appearances this year. 

Ferraro underwent surgery on Sunday to repair a fracture in his lower left fibula. He will likely be sidelined until sometime in April, as these surgeries usually take up to eight weeks to recover from. Prior to his injury, he tallied two goals and 11 points in 48 games played.