DART KENNETH BRYAN 4

4 · Flutter Entertainment plc · Filed Mar 17, 2026

AI-generated summary of this filing

Updated Mar 17, 2026

Flutter (FLUT) 10% Owner Kenneth Dart Buys 245,936 Notional Shares

What Happened

Kenneth Bryan Dart, reported as a 10% owner of Flutter Entertainment plc (FLUT), entered into a derivative purchase on March 13, 2026 that provides economic exposure to 245,936 notional shares. The transaction is reported at $108.81 per share for a total reported value of $26,759,657. This was recorded as a purchase (transaction code P) of a derivative instrument (a swap), not an outright transfer of share certificates.

Key Details

Transaction date and price: 2026-03-13, 245,936 notional shares at $108.81 each (total $26,759,657).
Reference price for the swap: $108.8074 per share (footnote).
Swap maturity: scheduled to terminate and be cash-settled on March 2, 2028.
Economic terms: at maturity the Reporting Person pays any decrease below the reference price and receives any increase above it; the Reporting Person pays monthly interest on the financing leg (SOFR-based) and is entitled to receive payments equal to dividends on the referenced shares during the swap term. (Footnote F1)
Counterparty/holder: LBS Limited is the swap counterparty and direct notional "holder"; 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. (Footnote F2)
Shares owned after transaction: not specified in the filing.
Filing timeliness: Form 4 filed 2026-03-17 for a 2026-03-13 transaction; based on business-day timing, the filing appears timely (no late filing indicated).

Context

This was a derivative (swap) acquisition that gives Mr. Dart economic upside and downside exposure to Flutter shares without transferring legal title to the underlying shares. Derivative purchases can reflect a range of objectives (financing, hedging, or directional exposure); the filing is factual and does not disclose motivation. For retail investors, note this is an economic exposure transaction by a 10% owner and not a simple open-market share purchase of stock certificates.

Form 4

Period: 2026-03-13

10% Owner

Transactions

PurchaseSwap
Total Return Swap
[F1][F2]
2026-03-13$108.81/sh+245,936$26,759,657→ 6,500,314 total(indirect: See footnote)
From: 2028-03-02Exp: 2028-03-02→ Common Stock (245,936 underlying)

Footnotes (2)

[F1]The reference price for the Swap is $108.8074 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|2026-03-17

1 file