Arnott Craig 4

What Happened

• Craig Arnott, Chief Investment Officer-International for Burford Capital Ltd (BUR), was granted 156,287 restricted share units (RSUs) on March 5, 2026. The grant is reported as a derivative award at a grant value of $8.55 per RSU, for an aggregate reported value of $1,336,254. This is an award/compensation grant (transaction code A), not an open‑market purchase or sale.

Key Details

• Transaction date: March 5, 2026; Form 4 filed March 9, 2026 (timely).
• Award size and value: 156,287 RSUs × $8.55 = $1,336,254 (reported as a derivative grant).
• Vesting schedule: five equal installments — 1st on March 22, 2027; 2nd on March 15, 2028; 3rd on March 15, 2029; 4th on March 15, 2030; 5th on March 15, 2031 — each installment subject to continued employment.
• Each RSU represents a contingent right to receive one ordinary share upon vesting.
• Shares owned after the transaction: not specified in the filing.
• Transaction code: A (grant/award); no 10b5‑1 plan, tax‑withholding, or late‑filing flags noted.

Context

• This is a standard equity compensation award to an executive and should be viewed as compensation rather than an immediate bullish purchase. As RSUs are contingent rights, they convert into ordinary shares only if vesting conditions (including continued employment) are met. The filing appears timely under Form 4 reporting rules.