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, 2021

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, 2021:


					Approximate
				Weighted Average	Aggregate
	Number	Weighted Average		Remaining	Intrinsic Value
	of Options	Exercise Price		Contractual Term	(in thousands)
Outstanding at August 31, 2020	661,500	$	7.23	6.17	$	1,831
Granted	115,000	$	9.00
Exercised	(18,000)	$	3.41
Net settlement exercised	(37,500)	$	3.99
Outstanding at May 31, 2021	721,000	$	7.77	6.30	$	4,592

Options exercisable at May 31, 2021	502,667	$	6.92	5.22	$	3,627

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 of and for the nine months ended May 31, 2021:


		Weighted Average
	Number	Grant Date
	of Options	Fair Value
Non-vested options outstanding at August 31, 2020	179,999	$	4.31
Granted	115,000	$	3.78
Vested	(76,666)	$	4.27
Forfeited (a)	—	$	—
Non-vested options outstanding at May 31, 2021	218,333	$	4.04

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