DART KENNETH BRYAN 4

4 · Flutter Entertainment plc · Filed Jun 24, 2026

AI-generated summary of this filing

Updated Jun 24, 2026

Flutter (FLUT) 10% Owner Kenneth Dart Buys 350,000 Notional Shares

What Happened

Kenneth Bryan Dart, reported as a 10% owner of Flutter Entertainment plc (FLUT), entered a derivative purchase on 2026-06-22: a cash‑settled total return swap referencing 350,000 notional shares at a reported price of $99.12 per share (transaction value $34,691,615). The filing classifies this as a purchase (code P) of a derivative position.

Key Details

Transaction date and price: 2026-06-22 at $99.12 per notional share (reference price in footnote: $99.1189).
Total reported value: $34,691,615.
Instrument and maturity: Cash‑settled total return swap scheduled to terminate March 2, 2028.
Payment/rights terms (from footnote): at maturity the Reporting Person pays declines below the reference price and receives increases above it; pays monthly interest on the financing leg (SOFR‑based); receives dividend equivalents during the swap term.
Holder/beneficial ownership: LBS Limited is the direct holder of the notional shares. Lake Michigan Limited and LBS Limited hold aggregate positions previously reported equal to 17,130,927 notional shares. As owner of those entities, Mr. Dart may be deemed to beneficially own the securities but disclaims beneficial ownership except for his pecuniary interest.
Filing timeliness: Reported period 2026-06-22 and filed 2026-06-24 — filed within the Form 4 two‑business‑day window (timely).

Context

This transaction is a derivative (total return swap), not a purchase of registered common shares. It gives Mr. Dart economic exposure to Flutter’s share price movements and dividend equivalents without direct title to the underlying shares; at maturity the position will be settled in cash.
As a reported 10% owner and owner of the entities that hold the swap, this is institutional/owner-level trading rather than a routine executive stock sale/exercise. The filing disclaims direct beneficial ownership except to the extent of pecuniary interest.

Form 4

Period: 2026-06-22

10% Owner

Transactions

PurchaseSwap
Total Return Swap
[F1][F2]
2026-06-22$99.12/sh+350,000$34,691,615→ 17,480,927 total(indirect: See footnote)
From: 2028-03-02Exp: 2028-03-02→ Common Stock (350,000 underlying)

Footnotes (2)

[F1]The reference price for the Swap is $99.1189 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 reported transaction and direct "holder" of the "notional" shares. Lake Michigan Limited and LBS Limited were parties to previously reported swap transactions that provide an aggregate position in 17,130,927 "notional" shares. As owner of LBS Limited and Lake Michigan 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|2026-06-24

1 file