Pure Cycle Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE STOCK PLANS (Tables)

EMPLOYEE STOCK PLANS (Tables)

9 Months Ended

May 31, 2023

The following table summarizes the combined stock option activity for the 2004 Incentive Plan and 2014 Equity Plan for the periods noted:


	Number of Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Approximate Aggregate Intrinsic Value (in thousands)
Outstanding at August 31, 2022	712,500	$	8.75	5.7	$	1,489
Granted	—	$	—
Exercised	—	$	—
Forfeited / Expired	—	$	—
Outstanding at May 31, 2023	712,500	$	8.75	5.0	$	1,226
Options exercisable at May 31, 2023	581,500	$	8.17	4.4	$	1,182


Outstanding at August 31, 2021	714,500	$	7.80	6.1	$	5,107
Granted	105,000	$	13.37
Net settlement exercised	(103,667)	$	6.87
Forfeited / Expired	(3,333)	$	10.45
Outstanding at May 31, 2022	712,500	$	8.75	6.3	$	2,032

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 for the periods presented:


	Number of Options	Weighted Average Grant Date Fair Value
Non-vested options outstanding at August 31, 2022	232,998	$	4.47
Granted	—	$	—
Vested	(101,998)	$	4.40
Forfeited	—	$	—
Non-vested options outstanding at May 31, 2023	131,000	$	4.54

Non-vested options outstanding at August 31, 2021	218,333	$	4.04
Granted	105,000	$	5.16
Vested	(87,002)	$	4.21
Forfeited	(3,333)	$	4.21
Non-vested options outstanding at May 31, 2022	232,998	$	4.47