REG - Burford Capital Ltd - Director/PDMR Shareholding
16/05/2025 13:30
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RNS Number : 0610J Burford Capital Limited 16 May 2025
May 16, 2025
Notification of Transactions By Persons Discharging Managerial
Responsibilities
Burford Capital Limited ("Burford"), the leading global finance and asset
management firm focused on law, provides the following notification of various
transactions by persons discharging managerial responsibilities (each, a
"PDMR").
Grant of RSUs and PSUs
On March 13, 2025, new grants of restricted share units ("RSUs") and
performance-based RSUs ("PSUs") were made by the compensation committee of
Burford's board of directors to certain of Burford's executive officers under
the Burford Capital Limited 2025 Omnibus Incentive Compensation Plan (the
"2025 Omnibus Incentive Compensation Plan"), as part of Burford's usual annual
compensation cycle. These grants were 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
the respective PDMR's continued employment through such dates.
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 Burford'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 the respective PDMR's continued employment
through such dates.
Each RSU and PSU represents a contingent right to receive one ordinary share,
no par value, of Burford ("Ordinary Share").
The allocation of grants is as follows: 11,373 RSUs and 11,373 PSUs to each of
(i) Deputy Chief Investment Officer, Craig Arnott, (ii) General Counsel and
Chief Administrative Officer, Mark Klein, (iii) Chief Financial Officer,
Jordan Licht, (iv) Chief Strategy Officer, Elizabeth O'Connell, and (v)
President, Aviva Will; 8,056 RSUs and 8,056 PSUs to Vice Chair, David Perla;
and 3,298 RSUs and 3,298 PSUs to Chief Development Officer, Travis Lenkner.
Investment in Shares through Burford Capital Deferred Compensation Plan
Further, on May 14, 2025, Jordan Licht, Burford's Chief Financial Officer,
used his cash compensation to purchase 696 Ordinary Shares through the Burford
Capital Deferred Compensation Plan.
The Notification of Dealing Forms for each of the transactions set forth above
are included at the end of this announcement.
For further information, please contact:
Burford Capital Limited
For investor and analyst inquiries:
Americas: Josh Wood, Head of Investor Relations - email +1 212 516 5824
(mailto:jwood@burfordcapital.com)
EMEA & Asia: Rob Bailhache, Head of EMEA & Asia Investor Relations - +44 (0)20 3530 2023
email (mailto:rbailhache@burfordcapital.com)
For press inquiries:
David Helfenbein, Senior Vice President, Public Relations - email +1 646 504 7074
(mailto:media@burfordcapital.com)
Deutsche Numis - NOMAD and Joint Broker +44 (0)20 7260 1000
Giles Rolls
Charlie Farquhar
Jefferies International Limited - Joint Broker +44 (0)20 7029 8000
Graham Davidson
James Umbers
Berenberg - Joint Broker +44 (0)20 3207 7800
Toby Flaux
James Thompson
Yasmina Benchekroun
About Burford Capital
Burford Capital is the leading global finance and asset management firm
focused on law. Its businesses include litigation finance
(https://www.burfordcapital.com/) and risk management, asset recovery and a
wide range of legal finance and advisory activities. Burford is publicly
traded on the New York Stock Exchange (NYSE: BUR) and the London Stock
Exchange (LSE: BUR) and works with companies and law firms around the world
from its global network of offices.
For more information, please visit www.burfordcapital.com
(http://www.burfordcapital.com) .
This press release does not constitute an offer to sell or the solicitation of
an offer to buy any ordinary shares or other securities of Burford.
This press release does not constitute an offer of any Burford private fund.
Burford Capital Investment Management LLC, which acts as the fund manager of
all Burford private funds, is registered as an investment adviser with the
US Securities and Exchange Commission. The information provided in this press
release is for informational purposes only. Past performance is not indicative
of future results. The information contained in this press release is not, and
should not be construed as, an offer to sell or the solicitation of an offer
to buy any securities (including interests or shares in any of Burford private
funds). Any such offer or solicitation may be made only by means of a final
confidential private placement memorandum and other offering documents.
Forward-looking statements
This press release contains "forward-looking statements" within the meaning of
Section 27A of the US Securities Act of 1933, as amended, and Section 21E of
the US Securities Exchange Act of 1934, as amended, that are intended to be
covered by the safe harbor provided for under these sections. In some cases,
words such as "aim", "anticipate", "believe", "continue", "could", "estimate",
"expect", "forecast", "guidance", "intend", "may", "plan", "potential",
"predict", "projected", "should" or "will", or the negative of such terms or
other comparable terminology, are intended to identify forward-looking
statements. Although Buford believes that the assumptions, expectations,
projections, intentions and beliefs about future results and events reflected
in forward-looking statements have a reasonable basis and are expressed in
good faith, forward-looking statements involve known and unknown risks,
uncertainties and other factors, which could cause Burford's actual results
and events to differ materially from (and be more negative than) future
results and events expressed, projected or implied by these forward-looking
statements. Factors that might cause future results and events to differ
include, among others, those discussed in the "Risk Factors" section of
Burford's Annual Report on Form 10-K for the year ended December 31, 2024
filed with the US Securities and Exchange Commission on March 3, 2025. These
factors should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements contained in the periodic and
current reports that Burford files with or furnishes to the US Securities and
Exchange Commission. Many of these factors are beyond Burford's ability to
control or predict, and new factors emerge from time to time. Furthermore,
Burford cannot assess the impact of each such factor on its business or the
extent to which any factor or combination of factors may cause actual results
and events to be materially different from those contained in any
forward-looking statement. Given these uncertainties, readers are cautioned
not to place undue reliance on Burford's forward-looking statements.
All subsequent written and oral forward-looking statements attributable to
Burford or to persons acting on its behalf are expressly qualified in their
entirety by these cautionary statements. The forward-looking statements speak
only as of the date of this press release and, except as required by
applicable law, Burford undertakes no obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Craig Arnott
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Deputy Chief Investment Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of restricted share unit under the Burford Capital Limited 2025 Omnibus
Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Craig Arnott
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Deputy Chief Investment Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of performance-based restricted share unit under the Burford Capital
Limited 2025 Omnibus Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Mark Klein
2 Reason for the notification
(a) Position/status A PDMR occupying the position of General Counsel and Chief Administrative
Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of restricted share unit under the Burford Capital Limited 2025 Omnibus
Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Mark Klein
2 Reason for the notification
(a) Position/status A PDMR occupying the position of General Counsel and Chief Administrative
Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of performance-based restricted share unit under the Burford Capital
Limited 2025 Omnibus Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Jordan Licht
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Financial Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of restricted share unit under the Burford Capital Limited 2025 Omnibus
Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Jordan Licht
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Financial Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of performance-based restricted share unit under the Burford Capital
Limited 2025 Omnibus Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Elizabeth O'Connell
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Strategy Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of restricted share unit under the Burford Capital Limited 2025 Omnibus
Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Elizabeth O'Connell
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Strategy Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of performance-based restricted share unit under the Burford Capital
Limited 2025 Omnibus Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Aviva Will
2 Reason for the notification
(a) Position/status A PDMR occupying the position of President
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of restricted share unit under the Burford Capital Limited 2025 Omnibus
Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Aviva Will
2 Reason for the notification
(a) Position/status A PDMR occupying the position of President
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of performance-based restricted share unit under the Burford Capital
Limited 2025 Omnibus Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 11,373
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name David Perla
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Vice Chair
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of restricted share unit under the Burford Capital Limited 2025 Omnibus
Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 8,056
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name David Perla
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Vice Chair
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of performance-based restricted share unit under the Burford Capital
Limited 2025 Omnibus Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 8,056
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Travis Lenkner
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Development Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of restricted share unit under the Burford Capital Limited 2025 Omnibus
Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 3,298
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Travis Lenkner
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Development Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares of nil par value
Identification code GG00BMGYLN96
(b) Nature of the transaction Grant of performance-based restricted share unit under the Burford Capital
Limited 2025 Omnibus Incentive Compensation Plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$13.19 3,298
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Jordan Licht
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Financial Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Ordinary Shares
Identification code GG00BMGYLN96
(b) Nature of the transaction Allocation of fully vested notional Ordinary Shares equivalent to a deferred
amount of cash compensation under Burford's deferred compensation plan
(c) Price(s)and volume(s) Price(s) Volume(s)
$14.43 696
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
(a) Name Jordan Licht
2 Reason for the notification
(a) Position/status A PDMR occupying the position of Chief Financial Officer
(b) Initial notification /Amendment Initial
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
(a) Name Burford Capital Limited
(b) LEI 549300FUKUWFYJMT2277
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
(a) Description of the financial instrument, type of instrument Notional Ordinary Shares
Identification code GG00BMGYLN96
(b) Nature of the transaction Allocation of unvested notional Ordinary Shares pursuant to the provisions of
Burford's deferred compensation plan due to vest in 2027
(c) Price(s)and volume(s) Price(s) Volume(s)
$ Nil 232
(d) Aggregated information N/A
· Aggregated volume
· Price
(e) Date of the transaction 14 May 2025
(f) Place of the transaction Outside a trading venue
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