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)

6 Months Ended

Feb. 28, 2026

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		$	9.52		3.8		$	616
Granted		30,000			10.75
Exercised		(60,000)			9.38
Forfeited / Expired		—			—
Outstanding at February 28, 2026		459,500			9.62		3.7			680
Options exercisable at February 28, 2026		429,500		$	9.54		3.3		$	680


Outstanding at August 31, 2024		524,500		$	9.42		4.7		$	877
Granted		—			—
Net settlement exercised		(35,000)			7.89
Forfeited / Expired		—			—
Outstanding at February 28, 2025		489,500		$	9.52		4.3		$	1,161

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			4.59
Vested		(17,000)			3.93
Forfeited / Expired		—			—
Non-vested options outstanding at February 28, 2026		30,000		$	4.59

Non-vested options outstanding at August 31, 2024		59,000		$	4.45
Granted		—			—
Vested		(42,000)			4.66
Forfeited		—			—
Non-vested options outstanding at February 28, 2025		17,000		$	3.93