Robert T. Pennington - Apr 19, 2023 Form 4 Insider Report for ENNIS, INC. (EBF)

Role: Chief Revenue Officer
Signature: /s/Robert T. Pennington
Stock symbol: EBF
Transactions as of: Apr 19, 2023
Transactions value $: $198,800
Form type: 4
Date filed: 4/25/2023, 04:38 PM
Previous filing: Oct 5, 2022
Next filing: Apr 23, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EBF	Common Stock	Options Exercise	$0	+954	+15.51%	$0.00	7.1K	Apr 19, 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EBF	RSU	Award	$0	+1.91K		$0.00	1.91K	Sep 16, 2022	Common Stock	1.91K	$0.00	Direct	F1, F2
transaction	EBF	RSU	Options Exercise	$0	-954	-49.97%	$0.00	955	Apr 19, 2023	Common Stock	954	$0.00	Direct	F2
transaction	EBF	ISO granted 4/21/2023	Award	$199K	+10K	+1047.12%	$19.88	11K	Apr 21, 2023	Common Stock	10K	$19.88	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Board authorized participation in Long-Term Incentive Plan on 09/16/2022 but terms of grant were not finalized until 09/21/2022 with effective date of 09/16/2022.
F2	Restricted units vest one-half April 19, 2023 and one-half April 19, 2024. Upon vesting some or all of restricted units (RSUs) may be converted to cash, stock or mixture of both.
F3	Option contract expires ten years from date of grant, and provides that shares will become exercisable 1/3 annually commencing on the first anniversary of grant. All option contracts are granted at market price on date of grant.