DART KENNETH BRYAN reported open-market purchase transactions in this Form 4 filing.
Flutter Entertainment plc disclosed that entities associated with major shareholder Kenneth Bryan Dart entered into a new cash-settled Total Return Swap referencing 459,963 notional shares of Flutter common stock. The swap has a reference price of $104.814 per share and is scheduled to terminate on March 2, 2028, when it will be cash-settled based on the share price relative to that reference level.
Lake Michigan Limited is the direct party to this swap, while LBS Limited is party to previously reported swaps covering an additional 7,453,418 notional shares, for an aggregate referenced position of 9,920,447 notional shares. Mr. Dart, as owner of these entities, may be deemed to beneficially own the referenced securities but disclaims beneficial ownership except to the extent of his pecuniary interest.
Under the swap terms, the Dart-affiliated entity will pay the counterparty if Flutter’s share price falls below the reference price at maturity and receive payments if it rises above. The entity also pays monthly interest at a rate based on OBFR and is entitled to receive amounts equal to any dividends paid on the referenced shares during the swap’s term.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.stocktitan.net ’
