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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 Form 10 - K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended August 31 , 2021 TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 0-8814 Common Stock 1/3 of $ .01 par value ( Title of each class ) PURE CYCLE a water , wastewater and land development company Colorado ( State or other jurisdiction of incorporation or organization ) 34501 E. Quincy Avenue , Bldg . 34 , Watkins , CO ( Address of principal executive offices ) PURE CYCLE CORPORATION ( Exact name of registrant as specified in its charter ) Large accelerated filer Non - accelerated filer > 84-0705083 ( I.R.S. Employer Identification Number ) ( 303 ) 2923456 ( Registrant's telephone number , including area code ) Securities registered pursuant to Section 12 ( b ) of the Act : PCYO ( Trading Symbol ( s ) ) 80137 ( Zip Code ) Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No > Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes > No The NASDAQ Stock Market ( Name of each exchange on which registered ) Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( Section 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes > No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company or an emerging growth company . See the definitions of “ large accelerated filer , " " accelerated filer , " " smaller reporting company " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Accelerated filer Smaller reporting company Emerging growth company If an emerging growth company , indicate by check mark if the registrant has elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes No State the aggregate market value of the voting and non - voting common equity held by non - affiliates computed by reference to the price at which the common equity was last sold , or the average bid and asked price of such common equity , as of the last business day of the registrant's most recently completed second fiscal quarter : $ 225,723,000 Indicate the number of shares outstanding of each of the registrant's classes of common stock , as of the latest practicable date : November 3 , 2021-23,918,827 DOCUMENTS INCORPORATED BY REFERENCE The information required by Part III is incorporated by reference from the registrant's definitive proxy statement for the 2022 Annual Meeting of Shareholders , which will be filed with the Securities and Exchange Commission within 120 days of the close of the fiscal year ended August 31 , 2021. Alternatively , we may include such information in an amendment to this annual report on Form 10 - K .