Haven't seen this confirmed yet by either the traditional media or McLeod, but BOL is reporting that he will transfer:
We'll see if this turns out to be true, but if it does then it won't come as a real surprise. Cooper Bateman's solid spring mixed with the arrival of Cornwell and the unexpected (at least to 2013 signees) transfer of Coker really put McLeod as a longshot for playing time in the reasonably near future.Redshirt freshman quarterback Parker McLeod will transfer from Alabama, sources close to the situation tell BamaOnline. McLeod ... has yet to determine his landing spot.