Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)

9 Months Ended

May 31, 2022

The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the nine months ended May 31, 2022:


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Approximate Aggregate Intrinsic Value (in thousands)
Outstanding at August 31, 2021	714,500	$	7.80	6.1	$	5,107
Granted	105,000	$	13.37
Exercised	(103,667)	$	6.87
Forfeited / Expired	(3,333)	$	10.45
Outstanding at May 31, 2022	712,500	$	8.75	6.3	$	2,032

Options exercisable at May 31, 2022	479,502	$	7.56	5.0	$	1,794

Non-Vested Options

The following table summarizes the combined activity and value of non-vested options under the 2004 Equity Plan and 2014 Incentive Plan as for the nine months ended May 31, 2022:


	Number of Options	Weighted Average Grant Date Fair Value
Non-vested options outstanding at August 31, 2021	218,333	$	4.04
Granted	105,000	$	5.16
Vested	(87,002)	$	4.21
Forfeited	(3,333)	$	4.21
Non-vested options outstanding at May 31, 2022	232,998	$	4.47

(a)	All non-vested options are expected to vest.