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Stock Option Plan and Stock Based Compensation | 6 Months Ended
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Aug. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Stock Option Plan and Stock Based Compensation | 11. Stock Option Plan and Stock Based Compensation The Company grants stock options and restricted stock to key executives, managerial employees and non-employee directors. At August 31, 2019, the Company had one stock option plan, the 2004 Long-Term Incentive Plan of Ennis, Inc., as amended and restated as of June 30, 2011 (the “Plan”). The Company has 520,104 shares of unissued common stock reserved under the Plan for issuance as of August 31, 2019. The exercise price of each stock option granted under the Plan equals a referenced price of the Company’s common stock as reported on the New York Stock Exchange on the date of grant, and an option’s maximum term is ten years. Stock options and restricted stock may be granted at different times during the year and vest ratably over various periods, from grant date up to five years. The Company uses treasury stock to satisfy option exercises and restricted stock awards. The Company recognizes compensation expense for stock options and restricted stock grants on a straight-line basis over the requisite service period. For the three months ended August 31, 2019 and August 31, 2018, the Company included compensation expense related to share-based compensation of $0.3 million and $0.4 million, respectively, in selling general, and administrative expenses. For the six months ended August 31, 2019 and August 31, 2018, the Company included compensation expense related to share-based compensation of $0.7 million and $0.7 million, respectively, in selling, general, and administrative expenses. Stock Options As of August 31, 2019, the Company had no outstanding vested or unvested stock options. The Company had the following stock option activity for the six months ended August 31, 2019:
|  |  |  |  |  |  |  |  |  | Weighted |  |  |  |  |
|  |  |  |  |  | Weighted |  |  | Average |  |  | Aggregate |
|  | Number |  |  | Average |  |  | Remaining |  |  | Intrinsic |
|  | of Shares |  |  | Exercise |  |  | Contractual |  |  | Value(a) |
|  | (exact quantity) |  |  | Price |  |  | Life (in years) |  |  | (in thousands) |
Outstanding at March 1, 2019 |  |  | 61,590 |  |  | $ | 15.88 |  |  |  | 1.8 |  |  | $ | 327 |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Terminated |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Exercised |  |  | (61,590 | ) |  | $ | 15.88 |  |  |  |  |  |  |  |  |
Outstanding at August 31, 2019 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercisable at August 31, 2019 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
(a) | Intrinsic value is measured as the excess of fair market value of the Company’s common stock as reported on the New York Stock Exchange over the applicable exercise price.
No stock options were granted during the six months ended August 31, 2019 and August 31, 2018. A summary of the stock options exercised and tax benefits realized from stock based compensation is presented below (in thousands):
|  | Three months ended |  |  | Six months ended |
|  | August 31, |  |  | August 31, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Total cash received |  | $ | — |  |  | $ | 69 |  |  | $ | — |  |  |  | 69 |
Income tax benefits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total grant-date fair value |  |  | — |  |  |  | 345 |  |  |  | 201 |  |  |  | 345 |
Intrinsic value |  |  | — |  |  |  | 534 |  |  |  | 267 |  |  |  | 534 |
The Company had no unvested stock options outstanding at any time during the six months ended August 31, 2019. Restricted Stock The Company had the following restricted stock activity for the six months ended August 31, 2019:
|  |  |  |  | Weighted |
|  |  |  |  | Average |
| Number of |  |  | Grant Date |
| Shares |  |  | Fair Value |
Outstanding at March 1, 2019 |  | 155,105 |  |  | $ | 19.03 |
Granted |  | 66,669 |  |  |  | 20.41 |
Terminated |  | (3,920 | ) |  |  | 17.02 |
Vested |  | (73,261 | ) |  |  | 18.94 |
Outstanding at August 31, 2019 |  | 144,593 |  |  | $ | 19.77 |
As of August 31, 2019, the total remaining unrecognized compensation cost related to unvested restricted stock granted under the Plan was approximately $2.4 million. The weighted average remaining requisite service period of the unvested restricted stock awards was 2.0 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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