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Stock Option Plan and Stock Based Compensation | 9 Months Ended
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Nov. 30, 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 November 30, 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 November 30, 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 November 30, 2019 and November 30, 2018, the Company included compensation expense related to share-based compensation of $0.3 million and $0.3 million, respectively, in selling general, and administrative expenses. For the nine months ended November 30, 2019 and November 30, 2018, the Company included compensation expense related to share-based compensation of $1.0 million and $1.0 million, respectively, in selling, general, and administrative expenses. Stock Options As of November 30, 2019, the Company had no outstanding vested or unvested stock options. The Company had the following stock option activity for the nine months ended November 30, 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 November 30, 2019 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Exercisable at November 30, 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 nine months ended November 30, 2019 and November 30, 2018. A summary of the stock options exercised and tax benefits realized from stock based compensation is presented below (in thousands):
|  | Three months ended |  |  | Nine months ended |
|  | November 30, |  |  | November 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
Total cash received |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  | 69 |
Income tax benefits |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total grant-date fair value |  |  | — |  |  |  | — |  |  |  | 201 |  |  |  | 345 |
Intrinsic value |  |  | — |  |  |  | — |  |  |  | 267 |  |  |  | 534 |
The Company had no unvested stock options outstanding at any time during the nine months ended November 30, 2019. Restricted Stock The Company had the following restricted stock activity for the nine months ended November 30, 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 |  | (73,928 | ) |  |  | 18.90 |
Outstanding at November 30, 2019 |  | 143,926 |  |  | $ | 19.79 |
As of November 30, 2019, the total remaining unrecognized compensation cost related to unvested restricted stock granted under the Plan was approximately $2.0 million. The weighted average remaining requisite service period of the unvested restricted stock awards was 1.7 years.

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- Definition The entire disclosure for share-based payment arrangement. + 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 + Details
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