Tampa Bay, which had two first-round selections in the upcoming draft, is trading the one that originally belonged to the Vancouver Canucks. The Lightning landed the pick in the J.T. Miller trade last June.
The condition originally attached to the pick will still apply, so if the Canucks miss the playoffs this spring, the Devils will get Vancouver's first-round selection in 2021 instead.
Coleman was held out of Sunday's game against the Columbus Blue Jackets reportedly as a precaution amid the possibility of a trade.
The 28-year-old is under contract for this season and the next while carrying a $1.8-million cap hit.
He's poured in 21 goals in 2019-20, one marker shy of the career high he established while playing 21 more games last season. Coleman, a versatile two-way player, was in his fourth campaign with the Devils, who drafted him 75th overall in 2011.
Foote, the son of former NHL defenseman Adam Foote and the brother of Lightning prospect Callan Foote, is a 19-year-old winger who's collected 33 points in 26 games with the WHL's Kelowna Rockets in 2019-20. Nolan Foote is in his fourth season with the Rockets. Tampa Bay selected him 27th overall in last year's draft.