Burford Capital (NYSE: BUR) executive settles 42,112 RSUs and withholds shares for tax

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Burford Capital Ltd Chief Strategy Officer Elizabeth O’Connell settled 42,112 Phantom RSUs into the same number of Ordinary Shares under the company’s Deferred Compensation Plan, on a one-for-one basis. As part of this settlement, 9,265 Ordinary Shares were delivered to satisfy tax withholding obligations.

After these transactions, O’Connell directly held 32,847 Ordinary Shares and also had 54,359 Ordinary Shares held indirectly through a trust. The filing notes that transactions of her spouse, executive officer Christopher Bogart, are reported separately.

Insider Trade Summary

42,112 shares exercised/converted

Mixed 4 txns

Insider OCONNELL ELIZABETH

Role Chief Strategy Officer

Type	Security	Shares	Price	Value
Exercise	Phantom RSUs	42,112	$0.00	--
Exercise	Ordinary shares, no par value ("Ordinary Shares")	42,112	$0.00	--
Tax Withholding	Ordinary Shares	9,265	$4.64	$43K
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Phantom RSUs — 346,484.5 shares (Direct, null); Ordinary shares, no par value ("Ordinary Shares") — 42,112 shares (Direct, null); Ordinary Shares — 32,847 shares (Direct, null); Ordinary Shares — 54,359 shares (Indirect, By Trust)

Footnotes (1)

Represents settlement of phantom RSUs ("Phantom RSUs") held under the Burford Capital Deferred Compensation Plan. Each Phantom RSU converted into an Ordinary Share on a one-for-one basis. 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 Burford Capital Limited. Represents satisfaction of tax withholding obligations upon settlement of Phantom RSUs.

Key Figures

Phantom RSUs settled: 42,112 units Shares for tax withholding: 9,265 shares Tax withholding reference price: $4.64 per share +3 more

6 metrics

Phantom RSUs settled 42,112 units Converted one-for-one into Ordinary Shares

Shares for tax withholding 9,265 shares Delivered to satisfy tax obligations on RSU settlement

Tax withholding reference price $4.64 per share Value used for 9,265-share tax-withholding disposition

Direct Ordinary Shares after transactions 32,847 shares Direct holdings of Elizabeth O’Connell

Indirect Ordinary Shares by trust 54,359 shares Indirect holdings through a trust

Phantom RSU exercise count 1 transaction Exercise/conversion of derivative security

Key Terms

Phantom RSUs, Deferred Compensation Plan, tax withholding obligations, derivative exercise/conversion, +1 more

5 terms

Phantom RSUs financial

"Represents settlement of phantom RSUs ("Phantom RSUs") held under the Burford Capital Deferred Compensation Plan."

Deferred Compensation Plan financial

"held under the Burford Capital Deferred Compensation Plan. Each Phantom RSU converted into an Ordinary Share on a one-for-one basis."

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 upon settlement of Phantom RSUs."

derivative exercise/conversion financial

"transaction_action": "derivative exercise/conversion""

Ordinary Shares financial

"Each Phantom RSU converted into an Ordinary Share on a one-for-one basis."

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

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Form 4 Insider Transactions: What Each Field Means →

06/17/2026 - 07:09 AM

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^*

OCONNELL ELIZABETH

(Last)

(First)

(Middle)

C/O BURFORD CAPITAL LIMITED

OAK HOUSE, HIRZEL STREET

(Street)

ST. PETER PORT

GY1 2NP

(City)

(State)

(Zip)

GUERNSEY

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/15/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary shares, no par value ("Ordinary Shares")	06/15/2026		M		42,112⁽¹⁾	A	$0	42,112	D⁽²⁾
Ordinary Shares	06/15/2026		F		9,265⁽³⁾	D	$4.64	32,847	D⁽²⁾
Ordinary Shares								54,359	I	By Trust

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom RSUs	⁽¹⁾	06/15/2026		M			42,112	⁽¹⁾	⁽¹⁾	Ordinary Shares	42,112	⁽¹⁾	346,484.5	D⁽²⁾

Explanation of Responses:

1. Represents settlement of phantom RSUs ("Phantom RSUs") held under the Burford Capital Deferred Compensation Plan. Each Phantom RSU converted into an Ordinary Share on a one-for-one basis.

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 Burford Capital Limited.

3. Represents satisfaction of tax withholding obligations upon settlement of Phantom RSUs.

Remarks:

	/s/ Paul Mysliwiec, as attorney-in-fact	06/17/2026
	** 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).
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Burford Capital (BUR) report for Elizabeth O’Connell?

Burford Capital reported that Chief Strategy Officer Elizabeth O’Connell settled 42,112 Phantom RSUs into an equal number of Ordinary Shares. The settlement occurred under the Burford Capital Deferred Compensation Plan and reflects routine compensation-related activity rather than open-market share purchases.

How many Burford Capital (BUR) shares were used for tax withholding in this Form 4?

The Form 4 shows that 9,265 Burford Capital Ordinary Shares were delivered to satisfy tax withholding obligations. This tax-withholding disposition was tied to the settlement of Phantom RSUs and does not represent an open-market sale of shares by the executive.

How many Burford Capital (BUR) shares does Elizabeth O’Connell hold after these transactions?

Following the reported transactions, Elizabeth O’Connell directly held 32,847 Burford Capital Ordinary Shares. She also had 54,359 Ordinary Shares held indirectly through a trust, giving investors a clearer picture of her total equity exposure from this single Form 4 filing.

What are Phantom RSUs in the Burford Capital (BUR) Deferred Compensation Plan?

Phantom RSUs are deferred compensation instruments that track Burford Capital’s Ordinary Shares. In this case, each Phantom RSU converted into one Ordinary Share upon settlement, turning 42,112 Phantom RSUs into 42,112 Ordinary Shares as part of the executive’s compensation package.

Does this Burford Capital (BUR) Form 4 include transactions by Christopher Bogart?

No. A footnote explains that the transactions disclosed do not include those reported separately by Christopher Bogart, the reporting person’s spouse. Bogart is also an executive officer of Burford Capital, and his transactions appear in distinct regulatory filings.