Pure Cycle Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

EMPLOYEE STOCK PLANS (Tables)

EMPLOYEE STOCK PLANS (Tables)

3 Months Ended

Nov. 30, 2025

The following table summarizes the combined stock option activity for the 2014 Equity Plan and 2024 Equity Plan for the periods noted:


		Number of Options		Weighted Average Exercise Price			Weighted Average Remaining Contractual Term		Approximate Aggregate Intrinsic Value (in thousands)
Outstanding at August 31, 2025		489,500		$	9.54		3.7		$	598
Granted		30,000			10.75
Exercised		(10,000)			4.05
Forfeited / Expired		—			—
Outstanding at November 30, 2025		509,500			9.70		4.0			1,003
Options exercisable at November 30, 2025		479,500		$	9.64		3.6		$	984


Outstanding at August 31, 2024		524,500		$	9.42		4.7		$	877
Granted		—			—
Net settlement exercised		(35,000)			7.89
Forfeited / Expired		—			—
Outstanding at November 30, 2024		489,500		$	9.52		3.4		$	2,455

Summary of Non-Vested Options

The following table summarizes the activity and value of non-vested options under the 2014 Equity Plan and 2024 Equity Plan for the periods presented:


		Number of Options		Weighted Average Grant Date Fair Value
Non-vested options outstanding at August 31, 2025		17,000		$	3.93
Granted		30,000			4.12
Vested		(17,000)			3.93
Forfeited / Expired		—			—
Non-vested options outstanding at November 30, 2025		30,000		$	4.12

Non-vested options outstanding at August 31, 2024		59,000		$	4.45
Granted		—			—
Vested		(42,000)			4.66
Forfeited		—			—
Non-vested options outstanding at November 30, 2024		17,000		$	3.93