Flutter Entertainment plc (NYSE: FLUT) insider adds swap on 6,294 notional shares

Rhea-AI Filing Summary

DART KENNETH BRYAN reported reported purchase transactions in this Form 4 filing.

Flutter Entertainment plc insider Kenneth Bryan Dart, through an affiliated entity, entered into a Total Return Swap referencing 6,294 notional shares of common stock on August 11, 2026. The swap has a reference price of $99.0178 per share, is scheduled to terminate on March 2, 2028, and will be cash-settled at maturity. Together with previously reported swaps, affiliated entities provide an aggregate position in 21,710,084 notional shares. Mr. Dart may be deemed to beneficially own these securities through ownership of the entities but disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider DART KENNETH BRYAN

Role 10% Owner

Bought 6,294 shs ($623K)

Type	Security	Shares	Price	Value
Purchase	Total Return Swap F1, F2	6,294	$99.0178	$623K

Holdings After Transaction: Total Return Swap — 21,716,378 shares (Indirect, See Footnote)

Footnotes (2)

1. F1. The reference price for the Swap is $99.0178 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 OBFR. 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.
2. F2. Lake Michigan 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 21,710,084 "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.

Key Figures

New TRS notional shares: 6,294 shares Reference price: $99.0178 per share Aggregate notional swap position: 21,710,084 shares +2 more

5 metrics

New TRS notional shares 6,294 shares Notional common shares referenced by the Total Return Swap entered on August 11, 2026

Reference price $99.0178 per share Reference price used to calculate cash settlement at swap maturity

Aggregate notional swap position 21,710,084 shares Total notional shares referenced by swaps held via Lake Michigan Limited and LBS Limited

Swap termination date March 2, 2028 Scheduled termination and cash-settlement date of the reported Total Return Swap

Transaction type Purchase of derivative (Total Return Swap) Form 4 code P with acquired-disposed code A for derivative security

Key Terms

Total Return Swap, reference price, notional shares, cash-settled, +1 more

5 terms

Total Return Swap financial

"entered into a Total Return Swap referencing 6,294 notional shares of common stock"

A total return swap is a private contract where one party pays the full economic performance of an asset (income plus price changes) to another party, while receiving a set payment such as a fixed rate or short-term interest in return. It matters to investors because it lets someone gain or shed exposure to an asset’s gains or losses without owning it, offering a way to borrow, hedge, or take leveraged positions while relying on the other party to make payments.

reference price financial

"The reference price for the Swap is $99.0178 per share"

A reference price is a single benchmark price set by an exchange or market system that serves as the starting point for trading measures such as opening auctions, daily price limits, or short-term comparisons. For investors it matters because it anchors how gains, losses and allowable price movement are calculated—like a tide level that tells you how far the market can legally or normally move from that starting point—so it affects order execution and risk management.

notional shares financial

"direct "holder" of the "notional" shares"

cash-settled financial

"the Swap will be cash-settled"

Cash-settled describes a financial contract that is resolved by paying the monetary difference between agreed and actual prices, instead of delivering the underlying asset. For investors, it matters because it simplifies trades—like settling a bet with cash rather than handing over the item—and affects liquidity, tax treatment, and counterparty exposure, since you receive or pay only the value change rather than owning or transferring the actual security or commodity.

OBFR financial

"monthly interest to the counterparty on the financing leg of the Swap at a rate based on OBFR"

FAQ

What insider transaction did FLUT’s Kenneth Bryan Dart report?

Kenneth Bryan Dart reported a purchase of a Total Return Swap referencing 6,294 notional Flutter Entertainment plc shares on August 11, 2026. The swap is cash-settled and references the company’s common stock.

What is the reference price of the Total Return Swap in the FLUT Form 4?

The Total Return Swap has a reference price of $99.0178 per share. This price is used at maturity to determine whether the counterparty or the reporting person owes a payment based on the share price change.

How large is Kenneth Dart’s aggregate notional swap position in FLUT shares?

Entities associated with Kenneth Dart hold swaps providing an aggregate position in 21,710,084 notional shares. This total includes the newly reported 6,294 notional shares plus previously reported swap transactions in Flutter Entertainment plc.

When does the reported Flutter Entertainment plc Total Return Swap mature?

The Total Return Swap is scheduled to terminate on March 2, 2028. At maturity, it will be cash-settled based on the difference between the market price of the referenced shares and the $99.0178 reference price.

Who is the actual party to the FLUT Total Return Swap transaction?

Lake Michigan Limited is the direct party to the swap and holder of the notional shares. As owner of Lake Michigan Limited and LBS Limited, Kenneth Dart may be deemed a beneficial owner but disclaims beneficial ownership except for his pecuniary interest.

Does Kenneth Dart receive dividend-equivalent payments on the FLUT swap position?

Yes. Under the swap terms, the reporting person is entitled to receive payments equal to any dividends paid on the referenced Flutter Entertainment plc shares during the swap term, while paying monthly interest based on OBFR.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/13/2026 - 05:17 PM Accepted by SEC EDGAR 08/13/2026 - 05:16 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DART KENNETH BRYAN

(Last) (First) (Middle)

P. O. BOX 31300

(Street)

GRAND CAYMAN

(City) (State) (Zip)

CAYMAN ISLANDS

(Country)

2. Issuer Name and Ticker or Trading Symbol
Flutter Entertainment plc [ FLUT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Total Return Swap	(1)	08/11/2026		P/K		6,294		03/02/2028	03/02/2028	Common Stock	6,294	$99.0178	21,716,378(2)	I	See Footnote(2)

Explanation of Responses:

1. The reference price for the Swap is $99.0178 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 OBFR. 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.

2. Lake Michigan 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 21,710,084 "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.

	/s/ Kenneth Dart	08/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)