Home > Insider Trading > Filing (0000276720-11-000004)

Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
276720	Pure Cycle Corp	PCYO	Water Supply (4941)	840705083

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1409045	Iii G Arthur Epker	C/O Pure Cycle Corporation 1490 Lafayette Street Denver CO 80218		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2011-01-11	1,982,099	$2.70	5,982,970	No	4	P	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnote

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	non-statutory stock option	Acquisiton	2011-01-11	2,500	$0.00	2,500	$3.67
Common Stock	Convertible Negotiable Promissory Note Payable	Disposition	2011-01-11	5,200,000	$2.70	1,982,099	$2.70

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
15,000	2012-01-11	2021-01-11	No	4	A	Direct
0	2011-01-11	2012-01-15	No	4	P	Indirect

Footnotes

The 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, L.P., which is the general partner of PIP, has investment discretion and voting control over shares held by PIP. No stockholder, director, officer or employee or PCM has benecial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) or any shares held by PIP. The shares held by PIP are part of a portfolio managed by Mr. Epker. As an employee of PCM, Mr. Epker has the authority to trade the securities held by PIP.The shares noted as acquired in Table I, were issued to PIP pursuant to a $5.2 million Convertible Negotiable Promissory Note (the "Note") issued to PIP on Septmeber 28, 2010. On January 11, 2011, the Issuer's shareholders approved the issuance of 1,982,099 shares of the Issuers common stock upon the conversion of the Note (plus accrued interest).