Schefter specified that Seattle is seeking a trade package that would include "at least" a first-round pick.
Clark was a second-round (No. 63 overall) selection for the Seahawks in 2015. In the four seasons since, he has appeared in 62 of 64 possible regular-season games and accumulated 136 total tackles and 35 sacks.
Last season, the 25-year-old posted career highs in solo tackles (33), sacks (13) and quarterback hits (27).
Clark has been franchise-tagged, which equates to $17.1 million for defensive ends. However, on Thursday, general manager John Schneider addressed the notion that Clark may sit out next season as he seeks a more lucrative, long-term deal.
"That's not my understanding at all," Schneider said, per Bob Condotta of the Seattle Times. "We've had very direct conversations, both myself and Frank and people in the organization and Frank and obviously myself and his agent, Erik Burkhardt."
The Seahawks signed quarterback Russell Wilson to a record-breaking four-year extension April 16, which may impact the franchise's ability to meet Clark's financial demands. While the Seahawks can negotiate with Clark until July 15, a trade may be the best route for both parties.
"My understanding is, it is a possibility that Frank Clark gets traded," NFL Network's Ian Rapoport said this week. "It may be the biggest non-draft question going into next week, which will definitely be settled at least by draft time because there are a lot of teams—and I'm told several teams are interested in Frank Clark."
In the same video, NFL Network's Tom Pelissero added: "There are multiple teams interested in Frank Clark, but [Seattle] truly would like to keep him. The question is what would that price be? Demarcus Lawrence just signed a contract worth upwards of $20 million a year. You can bet that Frank Clark would want more than that."
Seattle has already let an impact defender go this offseason due to his high contract demands when All-Pro safety Earl Thomas signed a four-year deal with the Baltimore Ravens. Leading up to the 2018 season, Thomas held out and was vocal about his value.
The 29-year-old ended up returning to the field for four games before he suffered a season-ending leg fracture, which—even if unofficially—played a part in the Seahawks' unwillingness to invest in him.
Clark and Thomas' situations are not the same, but regardless of specific player or situation, money is king in the NFL.