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Burford Capital Ltd·4

Mar 9, 4:44 PM ET

BOGART CHRISTOPHER P 4

4 · Burford Capital Ltd · Filed Mar 9, 2026

Research Summary

AI-generated summary of this filing

Updated

Burford (BUR) CEO Christopher Bogart Receives RSUs & Phantom RSUs

What Happened

  • Christopher P. Bogart, CEO of Burford Capital Ltd., reported two acquisition-type derivative transactions on March 5, 2026: a grant of 24,740 restricted share units (RSUs) at $8.55 ($211,527) and a discretionary acquisition of 304,353.3 phantom RSUs at $8.27 ($2,517,002). Total reported economic value ≈ $2,728,529 for ~329,093 RSU-equivalents.
  • These were not open-market common-share purchases or sales but awards/deferrals (derivative rights to receive shares or cash).

Key Details

  • Transaction dates/prices/values:
    • 2026-03-05: Grant (A) — 24,740 RSUs @ $8.55 = $211,527.
    • 2026-03-05: Discretionary (I) — 304,353.3 Phantom RSUs @ $8.27 = $2,517,002 (comprised of 228,264.3 Phantom RSUs purchased by Mr. Bogart + 76,089.0 Phantom RSUs matched by the company).
  • Shares owned after the transaction: Not stated in the provided filing excerpt.
  • Footnotes/highlights:
    • F1: The 24,740 RSUs were granted under the 2025 Omnibus Plan; RSUs generally vest in five equal installments (Mar 2027–Mar 2031), BUT because Mr. Bogart became retirement-eligible on May 3, 2025, the RSUs vested in full on the grant date with settlement to follow the ordinary vesting schedule.
    • F3: The Phantom RSUs vested in full on the grant date for the same retirement-eligibility reason; Phantom RSUs pay the economic equivalent of ordinary shares (cash or shares per plan) and settlement follows the NQDC Plan elections.
    • F2: Transactions by Mr. Bogart’s spouse (Elizabeth O’Connell), also an executive, are reported separately and are not included here.
  • Filing timeliness: Report filed 2026-03-09 for transactions on 2026-03-05 — appears timely (filed within the SEC’s two-business-day Form 4 window).

Context

  • These are derivative awards/deferrals, not immediate receipt of tradable common shares. RSUs and Phantom RSUs give future rights to shares or cash based on plan terms; settlement timing depends on the plan and Mr. Bogart’s distribution elections.
  • Because the awards vested on the grant date due to prior retirement eligibility, the economic right is fixed now, but actual share/cash delivery will follow the plans’ settlement schedules.

Insider Transaction Report

Form 4
Period: 2026-03-05
Burford Capital LtdBUR
BOGART CHRISTOPHER P
DirectorChief Executive Officer
Transactions
  • Award

    RSUs

    [F1][F2]
    2026-03-05$8.55/sh+24,740$211,527→ 1,938,197.1 total
    → Ordinary Shares (24,740 underlying)
  • Discretionary Transaction

    Phantom RSUs

    [F3][F2]
    2026-03-05$8.27/sh+304,353.3$2,517,002→ 2,242,550.4 total
    → Ordinary Shares (304,353.3 underlying)
Footnotes (3)
  • [F1]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 Mr. Bogart becoming retirement eligible on May 3, 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").
  • [F2]The transactions reported in this Form 4 do not include transactions reported separately by Elizabeth O'Connell, the reporting person's spouse, who is also an executive officer of the Company.
  • [F3]Represents a purchase of 228,264.3 phantom RSUs ("Phantom RSUs") by Mr. Bogart under the Burford Capital Deferred Compensation Plan (the "NQDC Plan") and a matching contribution by the Company of 76,089.0 Phantom RSUs, which vested in full on the grant date as a result of Mr. Bogart becoming retirement eligible on May 3, 2025, with settlement to occur in accordance with the distribution elections of Mr. Bogart and the applicable provisions 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 Ordinary Shares in accordance with the terms of the NQDC Plan.
Signature
/s/ Mark N. Klein, as attorney-in-fact|2026-03-09

Documents

1 file
  • 4
    wk-form4_1773089082.xmlPrimary

    FORM 4