Flutter (FLUT) 10% Owner Kenneth Dart Buys 6,294 Notional Shares

What Happened
Kenneth Bryan Dart, a reported 10% owner of Flutter Entertainment plc (FLUT), acquired a notional position of 6,294 shares via a derivative transaction (reported as a purchase) on August 11, 2026. The reported execution price was $99.02 per share, for an aggregate notional value of approximately $623,218. The instrument is a swap (derivative) that will be cash-settled at maturity on March 2, 2028.

Key Details

• Transaction date and price: Aug 11, 2026 — 6,294 notional shares at $99.02 each (reported reference price $99.0178).
• Total reported consideration: ~$623,218 (derivative).
• Derivative terms (footnote): Swap settles in cash at maturity (Mar 2, 2028). At maturity the reporting person pays the counterparty any decline below the reference price and receives any increase above it. The swap includes a financing leg (monthly interest based on OBFR) and entitles the reporting person to receive dividend-equivalent payments.
• Related entities (footnote): Lake Michigan Limited is the direct holder of the notional shares; together with LBS Limited prior swaps give an aggregate notional position of 21,710,084 shares. As owner of those entities, Mr. Dart may be deemed to beneficially own the securities but disclaims such ownership except for his pecuniary interest.
• Shares owned after transaction: Not separately disclosed in this Form 4 (see aggregate notional position noted above).
• Filing timeliness: Transaction reported on Form 4 filed Aug 13, 2026 for an Aug 11 transaction (within the typical 2-business-day reporting window).

Context
This was a derivative (swap) purchase, not an open-market share certificate transfer. For retail investors: derivative notional positions provide economic exposure to stock price moves (and dividend equivalents) without transferring legal title to underlying shares. As a 10% owner using affiliated entities, Mr. Dart’s disclosure reflects institutional/ownership structure and a stated pecuniary interest rather than straightforward executive stock purchases.