PURE CYCLE CORP — Director's Dealing 2007

Sep 4, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PURE CYCLE CORP (PCYO)
CIK: 0000276720
Period of Report: 2007-08-31

Reporting Person: Campbell Mark D (Director, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-08-31	non-statutory stock option	$7.64	A	2500	Acquired	2017-08-31	Common stock (2500)	Direct

Footnotes

F1: Annual grant pursuant to the 2004 Incentive Plan approved by Pure Cycle's stockholders.