01—Abstract
Summary
Summary of the 8-K filed April 4, 2024. Cited figures are marked; the original filing is the authoritative source.
Flutter Entertainment plc filed this Form 8-K on April 4, 2024 under Item 7.01 (Regulation FD Disclosure) to furnish, as Exhibit 99.1, a Regulatory News Service announcement made that day.
The announcement discloses equity award grants to Peter Jackson, Chief Executive Officer, and Paul Edgecliffe-Johnson, Chief Financial Officer. The filing states the disclosure was made to comply with the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules. Mr. Jackson received 9,705 ordinary shares as nil-cost options under the Flutter Entertainment plc 2015 Deferred Share Incentive Plan (DSIP), granted on April 2, 2024 at a price of £0.00.
These vest equally in two tranches on April 2, 2027 and April 2, 2028. Vested DSIP awards normally remain exercisable for 10 years from grant. Mr. Edgecliffe-Johnson received a total of 5,010 ordinary shares in conditional share awards, also dated April 2, 2024 at £0.00.
This consists of 4,383 shares under the DSIP, vesting equally on April 2, 2027 and April 2, 2028, and 627 shares under the 2016 Restricted Share Plan (RSP), vesting in full on March 10, 2027. Vested DSIP and RSP awards normally remain exercisable for 10 years from grant. The filing is a routine insider-compensation disclosure with no earnings, guidance, or financial results.
02—Key points
Key Highlights
- Form 8-K under Item 7.01 (Regulation FD Disclosure) furnishing RNS Announcement dated April 4, 2024 as Exhibit 99.1
- CEO Peter Jackson granted 9,705 ordinary shares as nil-cost options under the 2015 DSIP, dated April 2, 2024
- CFO Paul Edgecliffe-Johnson granted 5,010 ordinary shares in total: 4,383 under the 2015 DSIP and 627 under the 2016 RSP
- Jackson's DSIP award vests equally on April 2, 2027 and April 2, 2028
- Edgecliffe-Johnson's DSIP award vests equally on April 2, 2027 and April 2, 2028; his RSP award vests in full on March 10, 2027
- Vested DSIP and RSP awards normally remain exercisable for 10 years from grant
- Disclosure was made to comply with UK FCA Disclosure Guidance and Transparency Rules for persons discharging managerial responsibilities
03—Questions
Frequently Asked Questions
Why did Flutter file this 8-K?
The filing furnishes under Item 7.01 (Regulation FD Disclosure) an RNS Announcement made on April 4, 2024. The Company states the announcement was made to comply with UK Financial Conduct Authority Disclosure Guidance and Transparency Rules on director and PDMR shareholding transactions.
How many shares did the CEO and CFO receive?
Peter Jackson, CEO, received 9,705 ordinary shares as nil-cost options under the 2015 DSIP. Paul Edgecliffe-Johnson, CFO, received 5,010 ordinary shares in total, comprising 4,383 under the DSIP and 627 under the 2016 RSP. All grants are dated April 2, 2024 at a price of £0.00.
When do these awards vest?
Both executives' DSIP awards vest equally in two tranches on April 2, 2027 and April 2, 2028. The CFO's 627-share RSP award vests in full on March 10, 2027.
When can the vested awards be exercised?
The filing states that vested DSIP and RSP awards normally remain exercisable until 10 years from grant.
Does this filing contain financial results or guidance?
No. The filing covers only the equity award grants and the related regulatory disclosure. It contains no earnings, revenue, or forward-looking financial information.
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