Maran Capital Management, LLC - Nov 17, 2025 Form 3 Insider Report for PURE CYCLE CORP (PCYO)

Role
10%+ Owner
Signature
Maran Capital Management, LLC, By: /s/ Daniel J. Roller, Managing Member
Stock symbol
PCYO
Transactions as of
Nov 17, 2025
Transactions value $
$0
Form type
3
Date filed
11/24/2025, 06:12 PM
Previous filing
Jul 20, 2023
SEC
View on sec.gov

Reporting Owners (7)

Name Relationship Address Signature Signature date CIK
Maran Capital Management, LLC 10%+ Owner 250 FILLMORE STREET, SUITE 150, DENVER Maran Capital Management, LLC, By: /s/ Daniel J. Roller, Managing Member 2025-11-24 0001829240
Maran Partners Fund, LP 10%+ Owner 250 FILLMORE STREET, SUITE 150, DENVER /s/ Daniel J. Roller 2025-11-24 0001655289
Maran SPV1 LP 10%+ Owner 250 FILLMORE STREET, SUITE 150, DENVER Maran Partners Fund, LP, By: Maran Partners GP, LLC, By: /s/ Daniel J. Roller, Managing Member 2025-11-24 0002089566
Maran Partners GP, LLC 10%+ Owner 250 FILLMORE STREET, SUITE 150, DENVER Maran SPV GP, LLC, By: /s/ Daniel J. Roller, Managing Member 2025-11-24 0001829261
Maran SPV GP, LLC 10%+ Owner 250 FILLMORE STREET, SUITE 150, DENVER Maran SPV1 LP, By: Maran SPV GP, LLC, By: /s/ Daniel J. Roller, Managing Member 2025-11-24 0001829571
Roller Daniel J 10%+ Owner 250 FILLMORE STREET, SUITE 150, DENVER Maran Partners GP, LLC, By: /s/ Daniel J. Roller, Managing Member 2025-11-24 0001829268
Plaisance SPV I, LLC 10%+ Owner 250 FILLMORE STREET, SUITE 150, DENVER Plaisance SPV I, LLC, By: /s/ Danlel J. Roller, Managing Member 2025-11-24 0001791049

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding PCYO Common Stock 469K Nov 17, 2025 By Maran Partners Fund, LP F1, F2
holding PCYO Common Stock 480K Nov 17, 2025 By Maran SPV1 LP F1, F3
holding PCYO Common Stock 2.6M Nov 17, 2025 Plaisance SPV I, LLC F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This Form 4 is filed jointly by Maran Partners Fund, LP ("Maran Partners LP"), Maran Partners GP, LLC ("Maran Partners GP"), Maran SPV1, LP ("Maran SPV1"), Maran SPV GP, LLC ("Maran SPV GP"), Maran Capital Management, LLC ("Maran Capital Management"), Plaisance SPV I, LLC ("Plaisance SPV I") and Daniel J. Roller (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a Section 13(d) group that collectively owns more than 10% of the Issuer's outstanding shares of Common Stock.
F2 Securities owned directly by Maran Partners LP. As the general partner of Maran Partners LP, Maran Partners GP may be deemed to beneficially own the securities owned directly by Maran Partners LP. As the investment manager of Maran Partners LP, Maran Capital Management may be deemed to beneficially own the securities owned directly by Maran Partners LP. As the sole managing member of each of Maran Capital Management and Maran Partners GP, Mr. Roller may be deemed to beneficially own the securities owned directly by Maran Partners LP. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
F3 Securities owned directly by Maran SPV1. As the general partner of Maran SPV1, Maran SPV GP may be deemed to beneficially own the securities owned directly by Maran SPV1. As the investment manager of Maran SPV1, Maran Capital Management may be deemed to beneficially own the securities owned directly by Maran SPV1. As the sole managing member of each of Maran Capital Management and Maran SPV GP, Mr. Roller may be deemed to beneficially own the securities owned directly by Maran SPV1. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.
F4 Securities owned directly by Plaisance SPV I. As the investment manager of Plaisance SPV I, Maran Capital Management may be deemed to beneficially own the securities owned directly by Plaisance SPV I. As the sole managing member of Maran Capital Management, Mr. Roller may be deemed to beneficially own the securities owned directly by Plaisance SPV I. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein.