Licht Jordan David 4

4 · Burford Capital Ltd · Filed Mar 30, 2026

AI-generated summary of this filing

Updated Mar 30, 2026

Burford Capital (BUR) CFO Jordan Licht Exercises RSUs, Sells Shares

What Happened

Jordan Licht, Chief Financial Officer of Burford Capital Ltd (BUR), had a mix of restricted share units (RSUs) and performance-based RSUs (PSUs) vest on March 26, 2026, converting into 36,425 ordinary shares. To satisfy tax withholding, 18,597 of those shares were net-settled (disposed) at $7.70 per share for a cash value of $143,197, leaving a net of 17,828 shares retained by Licht. The filing shows the vesting/conversion entries as derivative exercises (code M) and the tax withholding as a disposition (code F).

Key Details

Transaction date: 2026-03-26. Filing date (Form 4): 2026-03-30 (timely).
Vested/converted shares: 36,425 total (18,437 + 14,197 + 3,791).
Tax withholding: 18,597 shares withheld at $7.70 = $143,197 (net share settlement).
Net shares received by insider: 17,828.
Footnotes:
- F1, F3: Vesting of time-based RSUs (including a one-third tranche from March 13, 2025 grant).
- F2: Vesting of PSUs at 77% of target upon certification of performance metrics.
- F4: Tax obligations satisfied by net settlement of shares (not an open-market sale).
Shares owned after the transaction: not provided in the extracted details.

Context

This was award vesting and a net-share tax withholding (routine compensation event), not an open-market sale or purchase; the withheld shares were used to cover tax liabilities (cashless/net settlement). Such events are common and generally reflect compensation mechanics rather than a trading view on the stock.

Form 4

Period: 2026-03-26

Chief Financial Officer

Transactions

Exercise/Conversion
Ordinary shares, no par value ("Ordinary Shares")
[F1]
2026-03-26+18,437→ 68,959 total
Exercise/Conversion
Ordinary Shares
[F2]
2026-03-26+14,197→ 83,156 total
Exercise/Conversion
Ordinary Shares
[F3]
2026-03-26+3,791→ 86,947 total
Tax Payment
Ordinary Shares
[F4]
2026-03-26$7.70/sh−18,597$143,197→ 68,350 total
Exercise/Conversion
RSUs
[F1]
2026-03-26−18,437→ 225,390.1 total
→ Ordinary Shares (18,437 underlying)
Exercise/Conversion
PSUs
[F2]
2026-03-26−14,197→ 211,193.1 total
→ Ordinary Shares (14,197 underlying)
Exercise/Conversion
RSUs
[F3]
2026-03-26−3,791→ 207,402.1 total
→ Ordinary Shares (3,791 underlying)

Footnotes (4)

[F1]Represents vesting of an award of restricted share units ("RSUs") granted on March 22, 2023 that vested in full on the third anniversary of the grant date. Each RSU converts into an Ordinary Share on a one-for-one basis.
[F2]Represents vesting of an award of performance-based RSUs ("PSUs") granted on March 22, 2023 that vested at 77% of target level upon certification of achievement of the financial performance metrics. Each PSU converts into an Ordinary Share on a one-for-one basis.
[F3]Represents vesting of one-third of an award of RSUs granted on March 13, 2025. Each RSU converts into an Ordinary Share on a one-for-one basis.
[F4]Represents satisfaction of tax withholding obligations by net settlement of Ordinary Shares upon vesting of RSUs and PSUs.

Signature

/s/ Mark N. Klein, as attorney-in-fact|2026-03-30

1 file