CFO Jordan Licht receives RSU grant and phantom units at Burford Capital (BUR)

Rhea-AI Filing Summary

Licht Jordan David reported acquisition or exercise transactions in this Form 4 filing.

Burford Capital Ltd reported equity awards for Chief Financial Officer Jordan David Licht. He received 156,287 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, subject to continued employment.

Licht also engaged in a discretionary transaction involving 3,711.9 phantom RSUs at $8.27 under the Burford Capital Deferred Compensation Plan. This reflects a purchase of 2,783.9 phantom RSUs by Licht and a 928.0-unit matching contribution by the company, vesting on March 2, 2028, again conditioned on continued employment.

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

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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^*

Licht Jordan David

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial 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)
			Code	V	Amount	(A) or (D)	Price

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
RSUs	(1)	03/05/2026		A		156,287		(1)	(1)	Ordinary Shares	156,287	$8.55	240,115.2	D
Phantom RSUs	(2)	03/05/2026		I		3,711.9		(2)	(2)	Ordinary Shares	3,711.9	$8.27	243,827.1	D

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, in each case, subject to Mr. Licht's continued employment through such dates. Each RSU represents a contingent right to receive one ordinary share, no par value, of the Company ("Ordinary Share").

2. Represents a purchase of 2,783.9 phantom RSUs ("Phantom RSUs") by Mr. Licht under the Burford Capital Deferred Compensation Plan (the "NQDC Plan") and a matching contribution by the Company of 928.0 Phantom RSUs, which vest on March 2, 2028, in accordance with the NQDC Plan, subject to Mr. Licht's continued employment through such date. 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.
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FAQ

What equity awards did Burford Capital (BUR) grant to its CFO?

Burford Capital granted Chief Financial Officer Jordan David Licht 156,287 RSUs on March 5, 2026 at $8.55 each. These restricted share units were issued under the 2025 Omnibus Incentive Compensation Plan and vest in five equal annual installments through March 15, 2031.

How do the new RSUs for Burford Capital (BUR) CFO vest over time?

The 156,287 RSUs granted to CFO Jordan Licht vest in five equal installments. Vesting dates are March 22, 2027, and March 15 of 2028, 2029, 2030 and 2031, each subject to his continued employment with Burford Capital through the applicable date.

What are the phantom RSUs reported for Burford Capital (BUR) CFO?

Jordan Licht transacted in 3,711.9 phantom RSUs at $8.27 under Burford’s Deferred Compensation Plan. This includes a purchase of 2,783.9 phantom RSUs by Licht and a 928.0-unit company matching contribution, all vesting on March 2, 2028, subject to continued employment.

What do Burford Capital (BUR) RSUs and phantom RSUs entitle the CFO to receive?

Each RSU represents a contingent right to receive one ordinary share of Burford Capital upon vesting. Each phantom RSU provides the economic equivalent of one ordinary share, payable in cash or ordinary shares under the terms of the Deferred Compensation Plan.

Are Burford Capital (BUR) CFO’s new awards tied to continued employment?

Yes, both the 156,287 RSUs and the 3,711.9 phantom RSUs require Jordan Licht’s continued employment through their respective vesting dates. If employment conditions are not met, unvested units may be forfeited under the plan terms.

What role does the compensation committee play in Burford Capital (BUR) CFO’s RSU grant?

Burford Capital’s compensation committee granted the 156,287 RSUs to CFO Jordan Licht on March 5, 2026 under the 2025 Omnibus Incentive Compensation Plan. The committee sets key terms, including grant size, vesting schedule, and performance or service conditions.