<SEC-DOCUMENT>0001140361-19-001246.txt : 20190117
<SEC-HEADER>0001140361-19-001246.hdr.sgml : 20190117
<ACCEPTANCE-DATETIME>20190117154923
ACCESSION NUMBER:		0001140361-19-001246
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190116
FILED AS OF DATE:		20190117
DATE AS OF CHANGE:		20190117

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Epker Arthur G III
		CENTRAL INDEX KEY:			0001409045

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08814
		FILM NUMBER:		19530953

	MAIL ADDRESS:	
		STREET 1:		C/O PURE CYCLE CORPORATION
		STREET 2:		8451 DELAWARE ST.
		CITY:			THORNTON
		STATE:			CO
		ZIP:			80260

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PURE CYCLE CORP
		CENTRAL INDEX KEY:			0000276720
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER SUPPLY [4941]
		IRS NUMBER:				840705083
		STATE OF INCORPORATION:			CO
		FISCAL YEAR END:			0831

	BUSINESS ADDRESS:	
		STREET 1:		34501 E. QUINCY AVE
		STREET 2:		BLDG. 34
		CITY:			WATKINS
		STATE:			CO
		ZIP:			80137
		BUSINESS PHONE:		3032923456

	MAIL ADDRESS:	
		STREET 1:		34501 E. QUINCY AVE
		STREET 2:		BLDG. 34
		CITY:			WATKINS
		STATE:			CO
		ZIP:			80137
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
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<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2019-01-16</periodOfReport>

    <issuer>
        <issuerCik>0000276720</issuerCik>
        <issuerName>PURE CYCLE CORP</issuerName>
        <issuerTradingSymbol>PCYO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001409045</rptOwnerCik>
            <rptOwnerName>Epker Arthur G III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PURE CYCLE CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>34501 E. QUINCY AVE., BLDG. 34, BOX 10</rptOwnerStreet2>
            <rptOwnerCity>WATKINS</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80137</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-Statutory Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>9.44</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2019-01-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2020-01-16</value>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2029-01-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6500</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Vests on January 16, 2020, or the date of the next annual meeting of shareholders of Pure Cycle Corporation, whichever is earlier.</footnote>
    </footnotes>

    <remarks>Exhibit List:
Exhibit 24.1 - Power of attorney</remarks>

    <ownerSignature>
        <signatureName>/s/ Arthur G. Epker III, by Mark W. Harding as attorney-in-fact (see remarks)</signatureName>
        <signatureDate>2019-01-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24.1
<SEQUENCE>2
<FILENAME>ex24_1.htm
<DESCRIPTION>EXHIBIT 24.1
<TEXT>
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      <div style="text-align: right; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">EXHIBIT 24.1</div>
      <div><br>
      </div>
      <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman'; font-weight: bold;">POWER OF ATTORNEY</font></div>
      <div><br>
      </div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">KNOW ALL BY THESE PRESENTS, that the person whose signature appears below hereby constitutes and appoints Mark W. Harding his true and
          lawful attorney-in-fact and agent, for him and in his name, place and stead, in any and all capacities, with full power of substitution, to: (i) sign any and all instruments, certificates and documents that may be necessary, desirable or
          appropriate to be executed pursuant to Section 13 or 16 of the Securities Exchange Act of 1934, as amended, and any and all regulations promulgated thereunder, with respect to Pure Cycle Corporation; (ii) do and perform any and all acts which may
          be necessary, desirable or appropriate to prepare and complete any such instruments, certificates and documents (including any amendments thereto); (iii) file the same (including any amendments thereto), with all exhibits thereto, and any other
          documents in connection therewith, with the Securities and Exchange Commission, and any stock exchange or similar authority; and (iv) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such
          attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this power of attorney
          shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact&#8217;s discretion, granting unto said attorney-in-fact full power and authority to do and perform each and every act and
          thing necessary, desirable or appropriate.</font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">The understood hereby grants to the attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever
          requisite, necessary or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present with full power of substitution or
          revocation, hereby ratifying and confirming all that such attorney-in-fact or such attorney-in-fact&#8217;s substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney.</font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">This power of attorney shall remain in full force and effect until revoked by the undersigned in a signed writing delivered to the
          attorney-in-fact.</font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"> <br>
        </font></div>
      <div style="text-align: justify; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">IN WITNESS WHEREOF, the undersigned has executed this power of attorney as of the 17th day of January 2019.</font></div>
      <div style="text-align: left; margin-left: 216pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';"><u> <br>
            </u></font></font></div>
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                <div>&#160;</div>
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              <td style="width: 50%; border-bottom: 2px solid rgb(0, 0, 0);"><font style="font-size: 10pt; font-family: 'Times New Roman';"><font style="font-size: 10pt; font-family: 'Times New Roman';">/s/ Arthur G. Epker III</font></font></td>
            </tr>
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              <td style="width: 50.00%;">
                <div>&#160;</div>
              </td>
              <td style="width: 50.00%;"><font style="font-size: 10pt; font-family: 'Times New Roman';">Arthur G. Epker III</font></td>
            </tr>

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      <div style="text-align: left; margin-left: 216pt;"><font style="font-size: 10pt; font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
        </font></div>
      <div style="text-align: left; font-family: &quot;Times New Roman&quot;; font-size: 10pt;"> <br>
      </div>
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