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

Shareholders' Equity (Tables)

9 Months Ended

May 31, 2012

The following table summarizes the stock option activity for the Equity Plan for the nine months ended May 31, 2013:

	Number of Options		Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Approximate Aggregate Instrinsic Value
Outstanding at beginning of period (Aug. 31, 2012)		215,000	$	5.88
Granted		32,500		3.15
Exercised		—		—
Forfeited or expired		—		—
Outstanding at May 31, 2013		247,500		5.52		6.4	$	161,475
Options exercisable at May 31, 2013		205,000	$	6.03		5.5	$	114,165

The following table summarizes the activity and value of non-vested options as of and for the nine months ended May 31, 2013:

	Number of Options			Weighted-Average Grant Date Fair Value
Non-vested options outstanding at beginning of period		22,500		$	1.72
Granted		32,500			2.36
Vested		(12,500	)		1.50
Forfeited		—			—
Options not vested at May 31, 2013		42,500		$	2.28