<SEC-DOCUMENT>0000276720-20-000026.txt : 20200306
<SEC-HEADER>0000276720-20-000026.hdr.sgml : 20200306
<ACCEPTANCE-DATETIME>20200306145226
ACCESSION NUMBER:		0000276720-20-000026
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200305
FILED AS OF DATE:		20200306
DATE AS OF CHANGE:		20200306

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			HARDING MARK W
		CENTRAL INDEX KEY:			0000940763

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-08814
		FILM NUMBER:		20694170

	MAIL ADDRESS:	
		STREET 1:		8451 DELAWARE STREET
		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
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-03-05</periodOfReport>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000940763</rptOwnerCik>
            <rptOwnerName>HARDING MARK W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PURE CYCLE CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>34501 EAST QUINCY AVE., BLDG. 34</rptOwnerStreet2>
            <rptOwnerCity>WATKINS</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80137</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>President and Chief Financial</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-03-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>7058</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.4559</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>487243</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>210000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By SMA Investments, LLLP</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on January 23, 2020.</footnote>
        <footnote id="F2">The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at rices ranging from $12.31 to $12.73. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.</footnote>
        <footnote id="F3">SMA Investments, LLLP, a limited liability limited partnership controlled by Mr. Harding.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Mark W. Harding</signatureName>
        <signatureDate>2020-03-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
