Pure Cycle Corp (PCYO) director receives 2,653-share stock grant

Rhea-AI Filing Summary

Pure Cycle Corp director Susan Diane Heitmann reported a stock award of company shares. On 01/14/2026, she acquired 2,653 shares of Common Stock in a transaction coded "A," which typically denotes an award or grant. The shares were recorded at a price of $0 per share, indicating they were granted rather than purchased on the open market.

Following this transaction, Heitmann directly beneficially owns 6,827 shares of Pure Cycle Corp common stock. The filing is made as a Form 4 by a single reporting person in her capacity as a director of the company.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Heitmann Susan Diane

(Last) (First) (Middle)

10636 W PARKHILL PL

(Street)

LITTLETON CO 80127

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PURE CYCLE CORP [ PCYO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/14/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/14/2026		A		2,653	A	$0	6,827	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/ Mark W. Harding, Attorney-in-Fact	01/15/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did PCYO disclose for director Susan Diane Heitmann?

The company disclosed that director Susan Diane Heitmann acquired 2,653 shares of Pure Cycle Corp Common Stock on 01/14/2026 in a transaction coded "A," indicating an award or grant.

How many Pure Cycle Corp (PCYO) shares does Susan Diane Heitmann own after this Form 4?

After the reported transaction, Susan Diane Heitmann beneficially owns 6,827 shares of Pure Cycle Corp common stock in direct ownership.

What was the price per share for the 2,653 Pure Cycle Corp shares reported on this Form 4?

The 2,653 Common Stock shares were reported at a price of $0 per share, consistent with a stock award or grant rather than a market purchase.

What does the transaction code "A" mean in this Pure Cycle Corp Form 4 filing?

In this filing, the transaction is coded "A", which typically indicates an award, grant, or similar acquisition of securities rather than an open-market buy or sale.

Is Susan Diane Heitmann a director or officer of Pure Cycle Corp?

The reporting person, Susan Diane Heitmann, is identified as a director of Pure Cycle Corp and is not reported as an officer or 10% owner in this filing.

Are the reported Pure Cycle Corp shares held directly or indirectly by Susan Diane Heitmann?

The Form 4 shows the 6,827 shares of Common Stock as held in direct (D) ownership by Susan Diane Heitmann, with no indirect ownership nature specified.