Burford CEO Christopher Bogart Exercises Phantom RSUs, Withholds Shares

What Happened

• Christopher P. Bogart, CEO of Burford Capital Ltd (BUR), settled Phantom RSUs on 2026-06-15. He received 121,880.3 ordinary shares (conversion of deferred Phantom RSUs) at $0.00 per share. To satisfy tax withholding, 18,294.3 shares were surrendered/withheld at an effective price of $4.64 per share, representing $84,886 in tax withholding.

Key Details

• Transaction date: 2026-06-15; Form 4 filed 2026-06-17 (appears timely).
• Primary codes: M = exercise/conversion of derivative (Phantom RSUs); F = tax withholding on settlement.
• Shares converted: 121,880.3 ordinary shares (one-for-one conversion of Phantom RSUs per footnote).
• Shares withheld for taxes: 18,294.3 shares @ $4.64 each = $84,886.
• Shares owned after transaction: not specified in this filing.
• Footnotes: F1 = Phantom RSUs converted one-for-one into ordinary shares; F3 = tax withholding satisfied by share withholding; F2 notes separate transactions by Bogart’s spouse, Elizabeth O’Connell, reported separately.

Context

• This was a settlement of deferred compensation (Phantom RSUs), not an open-market purchase or sale. The withholding of shares to cover taxes is a routine administrative step (a net settlement) and does not necessarily indicate a directional trading view by the insider.