SEC Form 4 · accession 0000899243-18-001177

PURE CYCLE CORP · PCYO

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Jan 15, 2018

Accepted (ET)

Jan 17, 2018 · 3:00 pm EST

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0000276720

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock	Jan 15, 2018	M	2,500	$7.50	A	2,500	D
Common Stock^F1	holding	—	—		—	5,982,970	I	By PAR Investment Partners, L.P.

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Non-Statutory Stock Option (Right to Buy)	$7.50	Jan 15, 2018	M	2,500	D	Jan 15, 2009	Jan 15, 2018	Common Stock	2,500	0	D

F15,982,970 shares noted in Table I of this Form 4 are held directly by PAR Investment Partners, L.P. ("PIP"). PAR Capital Management, Inc. ("PCM"), as the general partner of PAR Group II, L.P., which is the general partner of PIP, has investment discretion and voting control over shares held by PIP. Mr. Epker is an officer of PCM and in his capacity as an officer of PCM has sole voting and dispositive power with respect to the shares held by PIP. Mr. Epker disclaims beneficial ownership of the shares held directly by PIP, except to the extent of his pecuniary interest, if any, therein by virtue of his equity ownership interest in PIP.