Jordan David Licht - 14 May 2025 Form 4 Insider Report for Burford Capital Ltd (BUR)

Role: Chief Financial Officer
Signature: /s/ Mark N. Klein, as attorney-in-fact
Issuer symbol: BUR
Transactions as of: 14 May 2025
Net transactions value: +$313,411
Form type: 4
Filing time: 16 May 2025, 08:35:54 UTC
Previous filing: 10 Mar 2025
Next filing: 25 Aug 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Licht Jordan David	Chief Financial Officer	C/O BURFORD CAPITAL LIMITED, OAK HOUSE, HIRZEL STREET, ST. PETER PORT, GUERNSEY	/s/ Mark N. Klein, as attorney-in-fact	16 May 2025	0001982792

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	BUR	RSUs	Award	$150,010	+11,373	+7%	$13.19	173,001	14 May 2025	Ordinary Shares	11,373		Direct	F1
transaction	BUR	PSUs	Award	$150,010	+11,373	+6.6%	$13.19	184,374	14 May 2025	Ordinary Shares	11,373		Direct	F2
transaction	BUR	Phantom RSUs	Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities	$13,391	+928	+0.5%	$14.43	185,302	14 May 2025	Ordinary Shares	928		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents restricted share units ("RSUs") granted on March 13, 2025 by the compensation committee of the board of directors (the "Compensation Committee") of Burford Capital Limited (the "Company") under the Burford Capital Limited 2025 Omnibus Incentive Compensation Plan (the "2025 Omnibus Incentive Compensation Plan"), subject to shareholder approval of the 2025 Omnibus Incentive Compensation Plan, which was obtained on May 14, 2025. The RSUs vest in equal installments with (i) the first installment vesting on March 22, 2026, (ii) the second installment vesting on March 22, 2027 and (iii) the third installment vesting on March 15, 2028, in each case, subject to Mr. Licht's continued employment through such dates. Each RSU represents a contingent right to receive one ordinary share, no par value, of the Company ("Ordinary Share").
F2	Represents performance-based RSUs ("PSUs") granted on March 13, 2025 by the Compensation Committee under the 2025 Omnibus Incentive Compensation Plan, subject to shareholder approval of the 2025 Omnibus Incentive Compensation Plan, which was obtained on May 14, 2025. The PSUs vest on the third anniversary of the grant date, at a level (if at all) determined based upon achievement of either of the applicable relative total shareholder return-based goals measured based on the Company's performance either (i) over the five-year period ending on the final day of the applicable performance period or (ii) annually for each year of the three-year performance period, subject to Mr. Licht's continued employment through such dates. Each PSU represents a contingent right to receive one Ordinary Share.
F3	Represents a purchase of 696.0 phantom RSUs ("Phantom RSUs") by Mr. Licht under the Burford Capital Deferred Compensation Plan (the "NQDC Plan") and a matching contribution by the Company of 232.0 Phantom RSUs, which vest on May 9, 2027, in accordance with the NQDC Plan, subject to Mr. Licht's continued employment through such date. 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.