The transition tag would pay Vernon $12.7 million, per Albert Breer of NFL.com.
It's a tricky situation for the Dolphins as it pertains to trying to retain Vernon. Spotrac noted the franchise is already spending more cap space on defensive tackles and defensive ends than any other position without taking Vernon into account. The contracts of Ndamukong Suh, Cameron Wake and Dion Jordan are the main reasons why.
Signing the 25-year-old Miami native to a long-term extension would further increase that burden.
There are plenty of teams that could use an edge-rusher who's racked up 29 sacks across 64 career games, and it's likely Vernon will see increased interest in his services. At that point, the Dolphins will have to decide whether Vernon is worth the cost given their cap issues.