Pure Cycle Corp (NASDAQ: PCYO) director reports 2,653-share stock acquisition

Rhea-AI Filing Summary

Pure Cycle Corp director reports stock acquisition. Director Frederick A. Fendel III acquired 2,653 shares of Pure Cycle common stock on January 14, 2026 in a transaction coded "A," indicating an acquisition. The shares were reported at a price of $0.00 per share, which typically reflects a grant or award rather than a market purchase. Following this transaction, he beneficially owns 15,258 shares of Pure Cycle common stock held directly.

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^*

FENDEL FREDERICK A. III

(Last) (First) (Middle)

C/O PURE CYCLE CORPORATION

34501 E QUINCY AVE, BLDG 1 STE D

(Street)

WATKINS CO 80137

(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	15,258	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 report for Frederick A. Fendel III?

Pure Cycle Corp director Frederick A. Fendel III reported acquiring 2,653 shares of common stock on January 14, 2026, coded as an acquisition.

At what price were the newly acquired PCYO shares reported?

The 2,653 shares of Pure Cycle Corp common stock were reported at a price of $0.00 per share, consistent with a grant or award rather than a market purchase.

How many PCYO shares does Frederick A. Fendel III own after the transaction?

After the reported transaction, Frederick A. Fendel III beneficially owns 15,258 shares of Pure Cycle Corp common stock.

Is the reported PCYO ownership held directly or indirectly?

The filing shows the 15,258 shares of Pure Cycle common stock are held with direct ownership by Frederick A. Fendel III.

Does this PCYO Form 4 include any derivative securities?

The filing includes an empty derivatives table, indicating no derivative securities (such as options or warrants) were reported in this transaction.

What is the role of Frederick A. Fendel III at Pure Cycle Corp (PCYO)?

Frederick A. Fendel III is identified as a director of Pure Cycle Corp in the ownership report.