Plaisance Capital LLC 4
4 · PURE CYCLE CORP · Filed Nov 19, 2025
Insider Transaction Report
Form 4
PURE CYCLE CORPPCYO
Kozlowski Daniel R
Director
Transactions
- Sale
Common Stock 1/3 of $.01 par value
2025-11-17$11.01/sh−68,778$757,108→ 2,600,000 total(indirect: See Footnote) - Other
Common Stock 1/3 of $.01 par value
2025-11-17−2,600,000→ 0 total(indirect: See Footnote)
Holdings
- 348,557
Common Stock 1/3 of $.01 par value
Footnotes (3)
- [F1]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $11.00 to $11.0518. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]The reported securities are directly owned by Plaisance SPV I, LLC ("Plaisance SPV"). On November 17, 2025, after the transaction reported in row 1, Plaisance Capital, LLC ("Plaisance") entered into an agreement (the "Agreement") with Maran Capital Management, LLC ("Maran") whereby Plaisance withdrew as managing member of Plaisance SPV and Maran was admitted as the managing member of Plaisance SPV. Due to the Agreement, as of November 17, 2025, the reported securities are no longer deemed to be indirectly beneficially owned by either Plaisance or Daniel Kozlowski.
- [F3]The reported securities are directly owned by Daniel Kozlowski in his personal capacity.