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401(k) PLAN | 12 Months Ended
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Aug. 31, 2023
401(k) PLAN |
401(k) PLAN | NOTE 12 – 401(k) PLAN The Company maintains the Pure Cycle Corporation 401(k) Profit Sharing Plan (401(k) Plan), a defined contribution retirement plan for the benefit of its employees. The Company matches employee contributions at the rate of 50% of the first 3% up to a maximum of $2,500 per annum. The contributions vest based on years of service - first anniversary 25%, second anniversary 50%, third anniversary 75% and the fourth anniversary 100%. The Company pays the annual administrative fees of the 401(k) Plan, and the 401(k) Plan participants pay the investment fees. The 401(k) Plan is open to all employees, age 18 or older, who have been employees of the Company for at least three months. For the years ended August 31, 2023 and 2022, the Company recorded less than $0.1 million of expenses related to the 401(k) Plan.

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