DART KENNETH BRYAN reported open-market purchase transactions in this Form 4 filing.
Flutter Entertainment plc disclosed that an entity associated with major shareholder Kenneth Bryan Dart entered into a cash-settled Total Return Swap referencing 425,000 notional shares of Flutter common stock at a reference price of $107.3134 per share. The swap, held directly by Lake Michigan Limited, is scheduled to terminate on March 2, 2028, when it will be cash-settled rather than settled in shares.
At maturity, Dart’s entity will pay the counterparty any decrease in the share price below the reference price and receive any increase above it, plus dividend-equivalent payments during the term, while paying monthly interest based on OBFR. The filing notes Dart may be deemed to beneficially own these and previously reported swaps, which include an aggregate position in 7,453,418 notional shares, and shows a total notional position of 13,127,970 shares following this transaction, although he disclaims beneficial ownership except to the extent of his pecuniary interest.
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