PURE CYCLE CORP — Director's Dealing 2008

Jan 17, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PURE CYCLE CORP (pcyo)
CIK: 0000276720
Period of Report: 2008-01-15

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

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2008-01-15	Non-statutory stock option	$7.5	A	2500	Acquired	2018-01-15	Common Stock (2500)	Direct

Footnotes

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