DART KENNETH BRYAN 4

4 · Flutter Entertainment plc · Filed Mar 16, 2026

AI-generated summary of this filing

Updated Mar 16, 2026

Flutter (FLUT) 10% Owner Kenneth Dart Buys 1.21M Shares (Swap)

What Happened

Kenneth Dart, reported as a 10% owner of Flutter Entertainment plc (FLUT), entered into a total-return swap on 2026-03-12 that provides economic exposure to 1,214,188 ordinary shares of Flutter. The reported notional amount is 1,214,188 shares at a reference/transaction price of $109.87 per share, for a notional value of $133,404,657. The transaction is reported as a purchase (derivative acquisition), which signals increased economic exposure rather than a direct transfer of share title.

Key Details

Transaction date: 2026-03-12; Form 4 filed: 2026-03-16 (filed within the two-business-day window).
Reported amount: 1,214,188 notional shares at $109.87 per share; total notional value $133,404,657.
Transaction code: P (purchase of a derivative instrument / total-return swap).
Shares owned after transaction: Not reported in the filing.
Notable footnotes:
- F1: Reference price for the swap is $109.8715. The swap matures on March 2, 2028 and will be cash-settled. At maturity the Reporting Person pays the counterparty for any drop below the reference price and receives payments for any rise above it. The Reporting Person pays monthly financing interest based on SOFR and receives dividend-equivalent payments during the term.
- F2: LBS Limited is the party to the swap and the direct holder of the notional shares. As owner of LBS Limited, Mr. Dart may be deemed to beneficially own the reported securities but disclaims beneficial ownership except to the extent of his pecuniary interest.

Context

This was a derivative purchase (total-return swap), not a direct purchase of issued shares. The swap gives Mr. Dart economic exposure to price movements and dividends of the referenced shares and will be cash-settled at maturity (no immediate transfer of share title).
As a 10% owner rather than an executive trading under a routine plan, this is large institutional-level activity and should be viewed as exposure via a structured instrument rather than a standard open-market buy.

Form 4

Period: 2026-03-12

10% Owner

Transactions

PurchaseSwap
Total Return Swap
[F1][F2]
2026-03-12$109.87/sh+1,214,188$133,404,657→ 6,254,378 total(indirect: See footnote)
From: 2028-03-02Exp: 2028-03-02→ Common Stock (1,214,188 underlying)

Footnotes (2)

[F1]The reference price for the Swap is $109.8715 per share. The Swap is scheduled to terminate on March 2, 2028, at which time the Swap will be cash-settled. Under the terms of the Swap, at maturity: (i)the Reporting Person will be obligated to pay to the counterparty any decrease in the market price of the referenced shares below the reference price, and (ii) the counterparty will be obligated to pay the Reporting Person any increase in the market price of the referenced shares above the reference price. The Swap requires the Reporting Person to pay monthly interest to the counterparty on the financing leg of the Swap at a rate based on SOFR. Additionally, the Reporting Person is entitled to receive payments from the counterparty equal to any dividends paid on the referenced shares during the term of the Swap.
[F2]LBS Limited is the party to the Swap and direct "holder" of the "notional" shares. As owner of LBS Limited, Mr. Dart may be deemed to beneficially own the reported securities but disclaims such beneficial ownership except to the extent of his pecuniary interest therein.

Signature

/s/Kenneth B Dart|2026-03-16

1 file