Mark W. Harding - 12 Jan 2026 Form 4 Insider Report for PURE CYCLE CORP (PCYO)

Role: CHIEF EXECUTIVE OFFICER, Director
Signature: /s/ Mark W. Harding
Issuer symbol: PCYO
Transactions as of: 12 Jan 2026
Net transactions value: $0
Form type: 4
Filing time: 12 Jan 2026, 18:01:31 UTC
Previous filing: 19 Sep 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
HARDING MARK W	CHIEF EXECUTIVE OFFICER, Director	C/O PURE CYCLE CORPORATION, 34501 E QUINCY AVE, BLDG 1 STE D, WATKINS	/s/ Mark W. Harding	12 Jan 2026	0000940763

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PCYO	Common Stock	Gift	$0	-210,000	-100%	$0.000000	0	12 Jan 2026	SMA Investments, LLLP	F1
holding	PCYO	Common Stock						140,089	12 Jan 2026	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares of common stock are owned by SMA Investments, LLLP ("SMA"), a limited liability limited partnership previously controlled by the reporting person. The controlling interests of SMA were gifted to the Mark W. Harding Irrevocable Trust (the "Trust"). The reporting person no longer has investment or voting control over SMA. The reporting person previously reported the gift of 390,000 shares of common stock to the Trust on a Form 4 filed on 11/22/2024, correctly disclosing that he no longer had direct or indirect beneficial ownership of such shares; however, he erroneously reported the shares gifted to the Trust as being acquired indirectly through the Trust. Because the reporting person has no control over the investment or voting of assets held by the Trust, the reporting person does not own any shares indirectly through the Trust. With the transfer of control of SMA on 1/12/2025, the reporting person no longer beneficially owns any shares indirectly.

Content

These shares of common stock are owned by SMA Investments, LLLP ("SMA"), a limited liability limited partnership previously controlled by the reporting person. The controlling interests of SMA were gifted to the Mark W. Harding Irrevocable Trust (the "Trust"). The reporting person no longer has investment or voting control over SMA. The reporting person previously reported the gift of 390,000 shares of common stock to the Trust on a Form 4 filed on 11/22/2024, correctly disclosing that he no longer had direct or indirect beneficial ownership of such shares; however, he erroneously reported the shares gifted to the Trust as being acquired indirectly through the Trust. Because the reporting person has no control over the investment or voting of assets held by the Trust, the reporting person does not own any shares indirectly through the Trust. With the transfer of control of SMA on 1/12/2025, the reporting person no longer beneficially owns any shares indirectly.