Burford Capital (NYSE: BUR) CEO awarded RSUs and buys phantom units

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BOGART CHRISTOPHER P reported acquisition or exercise transactions in this Form 4 filing.

Burford Capital Ltd CEO Christopher P. Bogart reported new equity-based awards. He received 24,740 RSUs on March 5, 2026 at $8.55 per unit under the 2025 Omnibus Incentive Compensation Plan. These RSUs vest in five equal installments from March 22, 2027 through March 15, 2031, but vested in full on the grant date because he became retirement eligible on May 3, 2025, with settlement following the original vesting schedule.

On the same date, Bogart also entered into a discretionary transaction involving 304,353.3 phantom RSUs at $8.27 per unit under the deferred compensation plan, consisting of a purchase of 228,264.3 phantom RSUs and a company matching contribution of 76,089.0 phantom RSUs. These phantom units vested in full on grant due to retirement eligibility, with settlement to follow his distribution elections. After these transactions, he held 1,938,197.1 RSUs and 2,242,550.4 phantom RSUs directly.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider BOGART CHRISTOPHER P

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	RSUs	24,740	$8.55	$212K
I	Phantom RSUs	304,353.3	$8.27	$2.52M

Holdings After Transaction: RSUs — 1,938,197.1 shares (Direct); Phantom RSUs — 2,242,550.4 shares (Direct)

Footnotes (1)

Represents restricted share units ("RSUs") granted on March 5, 2026 by the compensation committee of the board of directors of Burford Capital Limited (the "Company") under the Burford Capital Limited 2025 Omnibus Incentive Compensation Plan. The RSUs vest in five equal installments with (i) the first installment vesting on March 22, 2027, (ii) the second installment vesting on March 15, 2028, (iii) the third installment vesting on March 15, 2029, (iv) the fourth installment vesting on March 15, 2030 and (v) the fifth installment vesting on March 15, 2031. Notwithstanding the foregoing, as a result of Mr. Bogart becoming retirement eligible on May 3, 2025, the RSUs vested in full on the grant date, with settlement to occur in accordance with the ordinary vesting schedule. Each RSU represents a contingent right to receive one ordinary share, no par value, of the Company ("Ordinary Share"). The transactions reported in this Form 4 do not include transactions reported separately by Elizabeth O'Connell, the reporting person's spouse, who is also an executive officer of the Company. Represents a purchase of 228,264.3 phantom RSUs ("Phantom RSUs") by Mr. Bogart under the Burford Capital Deferred Compensation Plan (the "NQDC Plan") and a matching contribution by the Company of 76,089.0 Phantom RSUs, which vested in full on the grant date as a result of Mr. Bogart becoming retirement eligible on May 3, 2025, with settlement to occur in accordance with the distribution elections of Mr. Bogart and the applicable provisions under the NQDC Plan. Each Phantom RSU represents a contingent right to receive the economic equivalent of one Ordinary Share, which may be paid in cash or Ordinary Shares in accordance with the terms of the NQDC Plan.

Form 4 Insider Transactions: What Each Field Means →

03/09/2026 - 04:44 PM

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^*

BOGART CHRISTOPHER P

(Last)

(First)

(Middle)

C/O BURFORD CAPITAL LIMITED

OAK HOUSE, HIRZEL STREET

(Street)

ST. PETER PORT

GY1 2NP

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Burford Capital Ltd [ BUR ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
RSUs	⁽¹⁾	03/05/2026		A		24,740		⁽¹⁾	⁽¹⁾	Ordinary Shares	24,740	$8.55	1,938,197.1	D⁽²⁾
Phantom RSUs	⁽³⁾	03/05/2026		I		304,353.3		⁽³⁾	⁽³⁾	Ordinary Shares	304,353.3	$8.27	2,242,550.4	D⁽²⁾

Explanation of Responses:

1. Represents restricted share units ("RSUs") granted on March 5, 2026 by the compensation committee of the board of directors of Burford Capital Limited (the "Company") under the Burford Capital Limited 2025 Omnibus Incentive Compensation Plan. The RSUs vest in five equal installments with (i) the first installment vesting on March 22, 2027, (ii) the second installment vesting on March 15, 2028, (iii) the third installment vesting on March 15, 2029, (iv) the fourth installment vesting on March 15, 2030 and (v) the fifth installment vesting on March 15, 2031. Notwithstanding the foregoing, as a result of Mr. Bogart becoming retirement eligible on May 3, 2025, the RSUs vested in full on the grant date, with settlement to occur in accordance with the ordinary vesting schedule. Each RSU represents a contingent right to receive one ordinary share, no par value, of the Company ("Ordinary Share").

2. The transactions reported in this Form 4 do not include transactions reported separately by Elizabeth O'Connell, the reporting person's spouse, who is also an executive officer of the Company.

3. Represents a purchase of 228,264.3 phantom RSUs ("Phantom RSUs") by Mr. Bogart under the Burford Capital Deferred Compensation Plan (the "NQDC Plan") and a matching contribution by the Company of 76,089.0 Phantom RSUs, which vested in full on the grant date as a result of Mr. Bogart becoming retirement eligible on May 3, 2025, with settlement to occur in accordance with the distribution elections of Mr. Bogart and the applicable provisions under the NQDC Plan. Each Phantom RSU represents a contingent right to receive the economic equivalent of one Ordinary Share, which may be paid in cash or Ordinary Shares in accordance with the terms of the NQDC Plan.

Remarks:

	/s/ Mark N. Klein, as attorney-in-fact	03/09/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What equity awards did Burford Capital (BUR) CEO Christopher Bogart receive?

Christopher Bogart received 24,740 RSUs at $8.55 and 304,353.3 phantom RSUs at $8.27. The phantom RSUs include 228,264.3 purchased units and 76,089.0 matching units under Burford’s incentive and deferred compensation plans.

How do the new Burford (BUR) RSUs for the CEO vest and settle?

The 24,740 RSUs vest in five equal installments between March 22, 2027 and March 15, 2031. Because Bogart became retirement eligible on May 3, 2025, they vested in full on the grant date, with share settlement following the original vesting schedule.

What are phantom RSUs in the Burford Capital (BUR) CEO’s Form 4?

Phantom RSUs are units that track the value of one ordinary share but pay the economic equivalent in cash or shares. Bogart’s 304,353.3 phantom RSUs under the deferred compensation plan will be settled according to his distribution elections and plan terms.

Did Burford Capital (BUR) match any of the CEO’s phantom RSU purchase?

Yes. Of the 304,353.3 phantom RSUs, 228,264.3 were purchased by Bogart under the deferred compensation plan and 76,089.0 were a matching contribution by Burford Capital, which vested in full on the grant date due to retirement eligibility.

What are Christopher Bogart’s total RSU and phantom RSU holdings after these transactions?

After these transactions, Bogart directly held 1,938,197.1 RSUs and 2,242,550.4 phantom RSUs. Each RSU represents a right to one ordinary share, while each phantom RSU represents the economic equivalent of one ordinary share under plan terms.

Are the Burford (BUR) CEO’s spouse’s transactions included in this Form 4?

No. The Form 4 states that it does not include transactions reported separately by Elizabeth O’Connell, Bogart’s spouse, who is also an executive officer. Her trades are disclosed in her own filings, separate from this report.