Burford Capital Ltd (BUR) grants 156,287 RSUs to Chief Strategy Officer

Rhea-AI Filing Summary

OCONNELL ELIZABETH reported acquisition or exercise transactions in this Form 4 filing.

Burford Capital Ltd Chief Strategy Officer Elizabeth O’Connell received a grant of 156,287 restricted share units (RSUs). The compensation committee approved the award at a reference price of $8.55 per RSU, increasing her directly held RSU-based interest to 425,470.5 units.

The RSUs are scheduled to vest in five equal installments between March 2027 and March 2031. However, because Ms. O’Connell becomes retirement eligible on August 12, 2025, the RSUs vested in full on the March 5, 2026 grant date, with actual share settlement to follow the ordinary vesting schedule. Each RSU represents a contingent right to receive one Burford ordinary share. Transactions by her spouse, executive officer Christopher Bogart, are specifically excluded from this report.

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^*

OCONNELL ELIZABETH

(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 Strategy 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	425,470.5	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 Ms. O'Connell becoming retirement eligible on August 12, 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 Christopher Bogart, the reporting person's spouse, who is also an executive officer of the Company.

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).
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FAQ

What did Burford Capital Ltd (BUR) disclose about Elizabeth O’Connell’s Form 4 transaction?

Burford Capital Ltd reported that Chief Strategy Officer Elizabeth O’Connell received a grant of 156,287 restricted share units. The award was approved by the compensation committee and recorded at a reference price of $8.55 per RSU under the company’s 2025 Omnibus Incentive Compensation Plan.

How many RSUs did Elizabeth O’Connell acquire in the latest Burford (BUR) filing?

Elizabeth O’Connell acquired 156,287 restricted share units in this Form 4. Following this grant, her directly held RSU-based interest increased to 425,470.5 units, each representing a contingent right to receive one ordinary share of Burford Capital Ltd upon settlement.

What is the vesting schedule of Elizabeth O’Connell’s new Burford (BUR) RSU award?

The RSUs are scheduled to vest in five equal installments from March 2027 through March 2031. Despite this schedule, a retirement-eligibility provision caused the units to vest fully on the March 5, 2026 grant date, with share settlement still aligned to the original vesting dates.

Why did Elizabeth O’Connell’s Burford (BUR) RSUs vest in full on the grant date?

The RSUs vested in full on the grant date because Ms. O’Connell becomes retirement eligible on August 12, 2025. Under the plan’s terms, that retirement eligibility triggered full vesting immediately, while actual settlement of shares will continue according to the ordinary vesting timetable.

What does each RSU granted to Elizabeth O’Connell at Burford (BUR) represent?

Each restricted share unit represents a contingent right to receive one ordinary share of Burford Capital Ltd. This means O’Connell will receive one ordinary share for each RSU as they settle over time, following the ordinary vesting and settlement schedule defined in the incentive plan.

Are Christopher Bogart’s transactions included in this Burford (BUR) Form 4 filing?

Christopher Bogart’s transactions are not included in this Form 4. A footnote clarifies that any transactions by Bogart, who is O’Connell’s spouse and also an executive officer of Burford Capital Ltd, are reported separately and excluded from the figures in this report.