Equity awards: Burford Capital (BUR) vice chair granted RSUs, PSUs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Burford Capital Ltd vice chair Perla David reported multiple equity compensation events. On March 26, 2026, RSUs and PSUs covering 35,320 Ordinary Shares vested and were converted into Ordinary Shares. Of these, 1,739 shares were withheld at $7.70 per share to satisfy tax obligations.
Perla David elected to defer receipt of all Ordinary Shares from certain 2023 RSU and PSU awards into the Burford Capital Deferred Compensation Plan, receiving 18,003 and 13,863 Phantom RSUs, respectively. Following these transactions, Perla David directly holds 81,119 Ordinary Shares and maintains additional deferred Phantom RSU interests linked one-for-one to Ordinary Shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
35,320 shares exercised/converted
Mixed
7 txns
Insider
Perla David
Role
Vice Chair
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | RSUs | 18,437 | $0.00 | -- |
| Grant/Award | Phantom RSUs | 18,003 | $0.00 | -- |
| Exercise | PSUs | 14,197 | $0.00 | -- |
| Grant/Award | Phantom RSUs | 13,863 | $0.00 | -- |
| Exercise | RSUs | 2,686 | $0.00 | -- |
| Exercise | Ordinary shares, no par value ("Ordinary Shares") | 2,686 | $0.00 | -- |
| Tax Withholding | Ordinary Shares | 1,739 | $7.70 | $13K |
Holdings After Transaction:
RSUs — 203,461.2 shares (Direct);
Phantom RSUs — 221,464.2 shares (Direct);
PSUs — 207,267.2 shares (Direct);
Ordinary shares, no par value ("Ordinary Shares") — 82,858 shares (Direct);
Ordinary Shares — 81,119 shares (Direct)
Footnotes (1)
- Represents vesting of one-third of an award of restricted share units ("RSUs") granted on March 13, 2025. Each RSU converts into an Ordinary Share on a one-for-one basis. Represents satisfaction of tax withholding obligations by net settlement of Ordinary Shares upon vesting of RSUs and performance-based RSUs ("PSUs"). Represents vesting of an award of RSUs granted on March 22, 2023 that vested in full on the third anniversary of the grant date. The reporting person has elected to defer receipt of 100% of Ordinary Shares deliverable upon vesting of the RSUs pursuant to the Burford Capital Deferred Compensation Plan (the "NQDC Plan"), resulting in the reporting person's receipt of 18,003 phantom RSUs ("Phantom RSUs"). Represents the conversion of 18,003 RSUs into Phantom RSUs, on a one-for-one basis, 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 settled in an Ordinary Share in accordance with the terms of the NQDC Plan. Represents vesting of an award of PSUs granted on March 22, 2023 that vested at 77% of target level upon certification of achievement of the financial performance metrics. The reporting person has elected to defer receipt of 100% of Ordinary Shares deliverable upon vesting of the PSUs pursuant to the NQDC Plan, resulting in the reporting person's receipt of 13,863 Phantom RSUs. Represents the conversion of 13,863 PSUs into Phantom RSUs, on a one-for-one basis, 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 settled in an Ordinary Share in accordance with the terms of the NQDC Plan.
Key Figures
Vested RSUs and PSUs: 35,320 shares
Phantom RSUs from RSUs: 18,003 units
Phantom RSUs from PSUs: 13,863 units
+3 more
6 metrics
Vested RSUs and PSUs
35,320 shares
Awards converting into Ordinary Shares on March 26, 2026
Phantom RSUs from RSUs
18,003 units
Deferral of vested RSUs into NQDC Plan
Phantom RSUs from PSUs
13,863 units
Deferral of vested PSUs into NQDC Plan
Tax-withholding shares
1,739 shares
Shares delivered to satisfy tax obligations
Tax-withholding price
$7.70 per share
Value used for tax-withholding share disposition
Ordinary Shares held
81,119 shares
Direct holdings after reported transactions
Key Terms
RSUs, PSUs, Phantom RSUs, Deferred Compensation Plan, +1 more
5 terms
RSUs financial
"Represents vesting of one-third of an award of restricted share units ("RSUs") granted on March 13, 2025."
RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.
PSUs financial
"Represents vesting of an award of PSUs granted on March 22, 2023 that vested at 77% of target level..."
PSUs are company shares promised to employees or executives that only become actual stock if the business hits specific performance targets over a set period. For investors, PSUs matter because they link pay to measurable outcomes — similar to a conditional bonus that converts into ownership — which can influence management decisions, dilution of shares, and signals about confidence in future results.
Phantom RSUs financial
"resulting in the reporting person's receipt of 18,003 phantom RSUs ("Phantom RSUs")."
Deferred Compensation Plan financial
"pursuant to the Burford Capital Deferred Compensation Plan (the "NQDC Plan")."
A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.
tax withholding obligations financial
"Represents satisfaction of tax withholding obligations by net settlement of Ordinary Shares upon vesting of RSUs and performance-based RSUs ("PSUs")."
FAQ
What insider transactions did Perla David report at Burford Capital (BUR)?
Perla David reported RSU and PSU vesting into Ordinary Shares plus new Phantom RSU awards. These transactions reflect equity compensation and deferral elections, not open-market buying or selling, and include shares withheld to cover tax obligations tied to the vesting events.
What are Phantom RSUs in the Burford Capital (BUR) filing for Perla David?
Phantom RSUs are deferred units representing the economic equivalent of one Ordinary Share. Under Burford Capital’s NQDC Plan, they may be paid in cash or settled in Ordinary Shares later, allowing Perla David to defer receipt of vested shares for compensation and tax planning purposes.
How many Phantom RSUs did Perla David receive from Burford Capital?
Perla David received 18,003 Phantom RSUs from vested RSUs and 13,863 Phantom RSUs from vested PSUs. Each Phantom RSU corresponds to one Ordinary Share’s economic value, delivered later under the deferred compensation plan’s terms rather than immediately on the vesting date.