Burford Capital Insider Filing: 210,000‐Share Sale by CEO

Rhea-AI Filing Summary

Burford Capital Limited (BUR) – Form 4 filing: CEO and Director Christopher P. Bogart reported the sale of 210,000 ordinary shares on 07 July 2025 at a weighted-average price of $14.595 under a Rule 10b5-1 trading plan adopted on 21 Aug 2024. Gross proceeds are roughly $3.1 million. Following the transaction, Bogart continues to hold substantial ownership: 278,862 shares via his revocable trust (directly reported here) plus 7,647,727 and 888,563 shares held through two LLCs, leaving total beneficial ownership above 8.8 million shares. No derivative transactions were disclosed, and there are no changes to executive roles or company strategy within the filing.

Positive

• None.

Negative

• CEO Christopher P. Bogart sold 210,000 shares (~$3.1 M), which may raise short-term insider-selling concerns despite being under a 10b5-1 plan.

Insights

Securities Analyst

TL;DR: CEO sells 210k shares (~2% of stake) via 10b5-1 plan; modest, routine, non-material.

The reported sale represents approximately 2.3% of Mr. Bogart’s aggregate 9 million-plus share position, preserving a significant alignment of interest with shareholders. Because the trade was executed under a pre-established 10b5-1 plan, it signals limited discretionary intent and is typically classified as routine liquidity management. Transaction size relative to average daily volume (~0.6 M shares on NYSE) is moderate but unlikely to create sustained market pressure. No accompanying disclosures suggest operational issues or strategic shifts. Overall market impact is expected to be neutral.

Insider Trade Summary

Net Seller: 210,000 shares ($3,064,950)

Net Sell 3 txns

Insider BOGART CHRISTOPHER P

Role Chief Executive Officer

Sold 210,000 shs ($3.06M)

Type	Security	Shares	Price	Value
Sale	Ordinary shares, no par value ("Ordinary Shares")	210,000	$14.595	$3.06M
holding	Ordinary Shares	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Ordinary shares, no par value ("Ordinary Shares") — 278,862 shares (Indirect, By Trust); Ordinary Shares — 7,647,727 shares (Indirect, By LLC)

Footnotes (1)

1. These Ordinary Shares were sold pursuant to a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the US Securities Exchange Act of 1934, as amended, that was adopted by the reporting person on August 21, 2024. Represents weighted average price. These Ordinary Shares were sold in multiple transactions at prices ranging from $14.5000 to $14.6900, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer or the staff of the US Securities and Exchange Commission, upon request, full information regarding the number of Ordinary Shares sold at each price within the range set forth above. Represents Ordinary Shares held by Christopher P. Bogart Revocable Trust (the "Trust"), of which the reporting person serves as a trustee and is a beneficiary. Includes 36,677 Ordinary Shares previously held directly, which were contributed to the Trust on June 6, 2025 and are now held indirectly. 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 Burford Capital Limited.

Form 4 Insider Transactions: What Each Field Means →

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).

X

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 Y7 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)
07/09/2025

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)
			Code	V	Amount	(A) or (D)	Price
Ordinary shares, no par value ("Ordinary Shares")(1)	07/09/2025		S		210,000	D	$14.595(2)	278,862	I	By Trust(3)(4)
Ordinary Shares								7,647,727	I	By LLC
Ordinary Shares								888,563	I	By LLC

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These Ordinary Shares were sold pursuant to a written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the US Securities Exchange Act of 1934, as amended, that was adopted by the reporting person on August 21, 2024.

2. Represents weighted average price. These Ordinary Shares were sold in multiple transactions at prices ranging from $14.5000 to $14.6900, inclusive. The reporting person undertakes to provide the issuer, any security holder of the issuer or the staff of the US Securities and Exchange Commission, upon request, full information regarding the number of Ordinary Shares sold at each price within the range set forth above.

3. Represents Ordinary Shares held by Christopher P. Bogart Revocable Trust (the "Trust"), of which the reporting person serves as a trustee and is a beneficiary. Includes 36,677 Ordinary Shares previously held directly, which were contributed to the Trust on June 6, 2025 and are now held indirectly.

4. 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 Burford Capital Limited.

Remarks:

	/s/ Mark N. Klein, as attorney-in-fact	07/11/2025
	** 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.

FAQ

How many Burford Capital (BUR) shares did the CEO sell?

Christopher P. Bogart sold 210,000 ordinary shares.

At what price were the BUR shares sold?

The weighted-average sale price was $14.595, with individual trades ranging from $14.50 to $14.69.

Does the CEO still own BUR stock after the sale?

Yes. He beneficially owns 8.8 million+ shares through a trust and two LLCs.

Was the transaction part of a 10b5-1 trading plan?

Yes, the sale occurred under a Rule 10b5-1 plan adopted on 21 Aug 2024.

Is this insider sale considered material to investors?

Given it is ~2 % of the CEO's holdings and pre-planned, analysts view the impact as neutral.