Pure Cycle (PCYO) director granted 2,653 shares at zero cost Jan. 14 2026

Rhea-AI Filing Summary

Pure Cycle Corp director Wanda J. Abel reported receiving 2,653 shares of common stock on January 14, 2026, in a no-cost award. The Form 4 shows the transaction coded as an acquisition at a price of $0 per share, which is typical for equity compensation grants to board members. Following this award, Abel beneficially owns 13,258 shares of Pure Cycle common stock held directly. This filing simply updates the public record of her ownership and reflects additional stock-based compensation rather than a cash purchase.

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^*

Abel Wanda J

(Last) (First) (Middle)

3400 WALNUT ST

SUITE 700

(Street)

DENVER CO 80205

(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	13,258	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/ Wanda J. Abel	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 Pure Cycle (PCYO) report for Wanda J. Abel?

The filing reports that director Wanda J. Abel acquired 2,653 shares of Pure Cycle common stock on January 14, 2026, recorded as a no-cost stock award.

How many Pure Cycle (PCYO) shares does Wanda J. Abel own after this transaction?

After the reported transaction, Wanda J. Abel beneficially owns 13,258 shares of Pure Cycle common stock in direct ownership.

Was the Pure Cycle (PCYO) insider transaction a purchase or a grant?

The Form 4 lists transaction code A for the common stock, indicating an acquisition, and the $0 per share price suggests it was a stock grant or award rather than an open-market purchase.

What role does Wanda J. Abel hold at Pure Cycle (PCYO)?

The reporting person, Wanda J. Abel, is identified as a director of Pure Cycle Corp and is not listed as an officer or 10% owner in this filing.

Did the Pure Cycle (PCYO) Form 4 include any derivative securities?

The Form 4 includes a table for derivative securities, but in this report there are no derivative transactions listed; only common stock is reported.

Is Wanda J. Abel’s ownership in Pure Cycle (PCYO) direct or indirect?

The filing classifies her 13,258 shares as held under direct (D) ownership, with no separate nature of indirect ownership disclosed.