Cashman, 46, broke his right fibula and dislocated his right ankle after jumping out of a U.S. Army plane above Homestead Air Reserve Base in a charity event for the Wounded Warrior Project.
He was tethered to a member of the Army Golden Knights parachute team during the dive.
A statement issued by the team indicated Cashman was treated at a Homestead, Fla., hospital, released, and then scheduled for surgery later in the day at Broward Health Medical Center in Fort Lauderdale.
"I'm in great spirits, and it was an awesome experience," Cashman said. "The Golden Knights are first class. While I certainly didn't intend to raise awareness in exactly this fashion, I'm extremely happy that the Wounded Warrior Project is getting the well-deserved additional attention."