Burford Capital director acquires 5,075.6 Phantom RSUs in plan

Burford Capital Ltd director reported a new equity-linked award under the company’s deferred compensation plan.

Rhea-AI Filing Summary

Burford Capital Ltd director reported a new equity-linked award under the company’s deferred compensation plan. On 12/18/2025, Mr. Halmy acquired 5,075.6 Phantom RSUs at a reference price of $9.26 per unit. These are derivative securities that give a contingent right to receive the economic equivalent of one Burford ordinary share for each Phantom RSU, payable in cash or ordinary shares under the plan’s terms.

Following this transaction, Mr. Halmy indirectly beneficially owned 8,018.4 Phantom RSUs. The filing confirms his status as a director and indicates the transaction was reported on a Form 4 for a single reporting person.

Insider Trade Summary

Discretionary: 5,075.6 shares

Discretionary 1 txn

Insider Halmy Christopher A

Role Director

Type	Security	Shares	Price	Value
Discretionary	Phantom RSUs	5,075.6	$9.26	$47K

Holdings After Transaction: Phantom RSUs — 8,018.4 contracts (Direct)

Footnotes (1)

1. F1. Represents a purchase of phantom restricted share units ("Phantom RSUs") by Mr. Halmy under the Burford Capital Deferred Compensation Plan (the "NQDC Plan"). Each Phantom RSU represents a contingent right to receive the economic equivalent of one ordinary share, no par value, of Burford Capital Limited ("Ordinary Share"), which may be paid in cash or Ordinary Shares in accordance with the terms of the NQDC Plan.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Burford Capital (BUR) disclose in this Form 4?

The filing reports that director Mr. Halmy acquired 5,075.6 Phantom RSUs on 12/18/2025 under Burford Capital’s deferred compensation plan.

What are Phantom RSUs in the Burford Capital (BUR) deferred compensation plan?

Each Phantom RSU represents a contingent right to receive the economic equivalent of one ordinary share of Burford Capital, which may be paid in cash or ordinary shares according to the plan.

How many Phantom RSUs does the Burford Capital director own after this transaction?

After the reported transaction, the director beneficially owned 8,018.4 Phantom RSUs, held as an indirect interest.

When did the reported Burford Capital insider transaction occur?

The earliest transaction date disclosed is 12/18/2025, which is when the Phantom RSUs were acquired under the deferred compensation plan.

What price is associated with the Phantom RSUs acquired by the Burford Capital director?

The 5,075.6 Phantom RSUs were reported with a derivative security price of $9.26 per unit.

What is the relationship of the reporting person to Burford Capital (BUR)?

The reporting person is identified as a director of Burford Capital Ltd, with the corresponding box checked in the relationship section.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/22/2025 - 04:46 PM Learn about SEC filing dates

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^*

Halmy Christopher A

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/18/2025

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

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
Phantom RSUs	(1)	12/18/2025		I		5,075.6		(1)	(1)	Ordinary Shares	5,075.6	$9.26	8,018.4	D

Explanation of Responses:

1. Represents a purchase of phantom restricted share units ("Phantom RSUs") by Mr. Halmy under the Burford Capital Deferred Compensation Plan (the "NQDC Plan"). Each Phantom RSU represents a contingent right to receive the economic equivalent of one ordinary share, no par value, of Burford Capital Limited ("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	12/22/2025
	** 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.