Elizabeth Oconnell - May 14, 2025 Form 4 Insider Report for Burford Capital Ltd (BUR)

Role: Chief Strategy Officer
Signature: /s/ Mark N. Klein, as attorney-in-fact
Stock symbol: BUR
Transactions as of: May 14, 2025
Transactions value $: $300,020
Form type: 4
Date filed: 5/16/2025, 08:34 AM
Previous filing: Apr 10, 2025
Next filing: Oct 2, 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
OCONNELL ELIZABETH	Chief Strategy Officer	C/O BURFORD CAPITAL LIMITED, OAK HOUSE, HIRZEL STREET, ST. PETER PORT, GUERNSEY	/s/ Mark N. Klein, as attorney-in-fact	2025-05-16	0001370474

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	$150K	+11.4K	+4.61%	$13.19	258K	May 14, 2025	Ordinary Shares	11.4K		Direct	F1, F2, F3
transaction	BUR	PSUs	Award	$150K	+11.4K	+4.41%	$13.19	269K	May 14, 2025	Ordinary Shares	11.4K		Direct	F3, F4, F5

* 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 Ms. O'Connell's continued employment through such dates.
F2	(CONTINUED FOOTNOTE) Notwithstanding the foregoing, upon Ms. O'Connell becoming retirement eligible on August 22, 2025, subject to her continued employment through such date, the RSUs vest in full, with settlement to occur in accordance with the ordinary vesting schedule. Each RSU represents a contingent right to receive one ordinary share, no par value, of the Company ("Ordinary Share").
F3	The transactions reported in this Form 4 do not include transactions reported separately by Christopher Bogart, the reporting person's spouse, who is also an executive officer of the Company.
F4	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 Ms. O'Connell's continued employment through such dates.
F5	(CONTINUED FOOTNOTE) Notwithstanding the foregoing, upon Ms. O'Connell becoming retirement eligible on August 22, 2025, subject to her continued employment through such date, the service-based vesting component of the PSUs will be deemed satisfied, with settlement to occur (if at all) in accordance with the ordinary vesting schedule. Each PSU represents a contingent right to receive one Ordinary Share.