Price waived his no-move clause ahead of the expansion draft, making him eligible to be claimed by the Kraken. Seattle had to submit their expansion list by 10:00 a.m. ET.
Price, whose playoff heroics were an essential factor in Montreal reaching the Stanley Cup Final this season, is in the fourth year of an eight-year contract that carries an annual cap hit of $10.5 million.
During Montreal's run to the Cup Final, Price started all 22 games. The 33-year-old registered a sterling 2.28 goals-against average and .924 save percentage, as well as one shutout. In the regular season, Price appeared in 25 games, going 12-7-5 with a 2.64 goals-against average and .901 save percentage.
By waiving his no-move clause, Price allowed the Canadiens to protect Jake Allen, while Montreal banked on Price's salary to deter the Kraken from claiming him. He is also owed an $11-million signing bonus in September.
The expansion draft takes place on Wednesday at 8 p.m. ET, and can be seen live on Sportsnet.