OCONNELL ELIZABETH 4

What Happened

• Elizabeth O'Connell, Chief Strategy Officer of Burford Capital Ltd (BUR), received a grant of 156,287 restricted share units (RSUs) on March 5, 2026. The grant is recorded at $8.55 per unit, with a total reported value of $1,336,254. This is an award/grant (derivative RSUs), not an open-market purchase or sale.

Key Details

• Transaction date and price: March 5, 2026; 156,287 RSUs at $8.55 each (total $1,336,254).
• Shares owned after transaction: Not specified in this filing.
• Vesting/footnote summary: RSUs were granted under the 2025 Omnibus Incentive Plan and generally vest in five equal installments from March 22, 2027 through March 15, 2031. However, because Ms. O'Connell became retirement-eligible on August 12, 2025, the RSUs vested in full on the grant date; settlement will follow the ordinary vesting schedule (see footnote F1).
• Related filings: Transactions by Ms. O'Connell’s spouse, Christopher Bogart (also an executive), are reported separately (footnote F2).
• Filing timeliness: Form 4 was filed March 9, 2026 for a March 5, 2026 grant — submitted four calendar days after the transaction; this appears later than the standard two business-day Form 4 deadline.

Context

• These RSUs are derivative awards representing a contingent right to receive one ordinary share per RSU upon settlement. Because the award was granted and vested (due to retirement eligibility) rather than purchased, it does not reflect an open-market investment by the insider. For retail investors, awards like this are common for executive compensation; they show alignment with the company but are not the same signal as a personal cash purchase.