Kenneth Bryan Dart, a director and greater-than-10% owner of Flutter Entertainment plc (NYSE:FLUT), filed a statement of changes in beneficial ownership on August 17, 2026, disclosing a derivative securities transaction dated August 13, 2026.

Key Highlights

  • Reporting person: Kenneth Bryan Dart, identified as both a director and a 10% owner of Flutter Entertainment plc.
  • Transaction: Acquisition (code P) of a Total Return Swap referencing 29,175 shares of Common Stock, with a reference price of $96.8462 per share.
  • Swap termination date: The Swap is scheduled to terminate on March 2, 2028, and will be cash-settled at maturity.
  • Aggregate notional position: Following the transaction, the filing reports 21,797,148 derivative securities beneficially owned, held indirectly through Lake Michigan Limited and LBS Limited.
  • Beneficial ownership disclaimer: Mr. Dart disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Kenneth Dart Adds to Notional Swap Position in Flutter Entertainment

According to the filing, the transaction involves a Total Return Swap entered into by Lake Michigan Limited, which is identified as the direct holder of the notional shares. The swap references 29,175 shares of Flutter Entertainment Common Stock at a reference price of $96.8462 per share. Flutter Entertainment plc is a global sports betting and gaming operator listed on the New York Stock Exchange under the ticker FLUT.

The filing describes the economic terms of the Swap in detail. At maturity on March 2, 2028, the instrument will be cash-settled: Mr. Dart's associated entity will be obligated to pay the counterparty any decrease in the market price of the referenced shares below the reference price, while the counterparty will pay any increase above that price. Additionally, according to the filing, the Reporting Person is required to pay monthly interest to the counterparty based on OBFR on the financing leg, and is entitled to receive payments equal to any dividends paid on the referenced shares during the term of the Swap.

The filing further discloses that Lake Michigan Limited and LBS Limited were parties to previously reported swap transactions providing an aggregate position in 21,767,973 notional shares. Combined with the 29,175 shares added in this transaction, the total notional position reported following this transaction is 21,797,148 shares, held indirectly. Mr. Dart is described as the owner of both LBS Limited and Lake Michigan Limited, and the filing notes he may be deemed to beneficially own the reported securities subject to his disclaimer.

What Was Disclosed

The filing discloses the acquisition of a Total Return Swap referencing 29,175 shares of Flutter Entertainment Common Stock at $96.8462 per share, executed on August 13, 2026, with settlement scheduled for March 2, 2028, and a resulting aggregate notional position of 21,797,148 shares held indirectly.