BURNETT VERA 4
4 · ENNIS, INC. · Filed Apr 21, 2026
Research Summary
AI-generated summary of this filing
ENNIS (EBF) CFO Vera Burnett Exercises Options and Receives Award
What Happened Vera Burnett, Chief Financial Officer and Treasurer of Ennis, Inc., reported derivative activity dated April 20, 2026. The Form 4 shows (1) an exercise/conversion of derivative instruments resulting in acquisition of 1,802 shares at $0.00, (2) a related conversion/disposition of 3,603 derivative units at $0.00, and (3) a grant/award of 3,603 shares valued at $19.76 each (total $71,195). These entries reflect option/derivative conversion and an award of time‑based restricted units (an acquisition/award rather than an open‑market sale).
Key Details
- Transaction date: 2026-04-20 (Filed 2026-04-21).
- Reported items: 1,802 shares acquired via derivative exercise/conversion @ $0.00; 3,603 derivative units disposed @ $0.00; 3,603-share award @ $19.76 = $71,195.
- Shares owned after transaction: Not specified in the provided excerpt of the filing — check full Form 4 for total beneficial ownership.
- Footnotes: F1 describes the time‑based restricted units vesting schedule (33% on 4/21/25, 33% on 4/20/26, 34% on 4/19/27) and a possible conversion to incentive stock options if ownership thresholds aren’t met. F2 notes option contracts expire 10 years from grant and vest 1/3 annually; options are granted at market price.
- Timeliness: Filing appears timely (transaction reported the next day).
Context
- The transaction codes: M = exercise/conversion of a derivative (e.g., options/SARs); A = grant/award (restricted units). $0.00 price lines typically reflect conversion/net settlement mechanics on the Form 4, not an open‑market purchase price.
- The A-line award corresponds to time‑based restricted units originally granted 4/19/2024 and subject to the vesting and ownership conditions described in F1.
- No open‑market sale was reported here; these entries are corporate equity awards and option/derivative conversions. This is factual reporting of insider activity — it does not by itself indicate the insider’s motive.
Insider Transaction Report
- Exercise/Conversion
Common Stock
2026-04-20+1,802→ 29,608 total - Exercise/Conversion
RSU granted 4/19/2024
[F1]2026-04-20−3,603→ 3,605 totalExercise: $0.00→ Common Stock (3,603 underlying) - Award
ISO granted 04/20/2026
[F1]2026-04-20$19.76/sh+3,603$71,195→ 3,603 totalExercise: $19.76→ Common Stock (3,603 underlying)
- 1,214(indirect: By IRA)
Common Stock
- 6,667
ISO granted 4/21/2023
[F2]Exercise: $19.88→ Common Stock (6,667 underlying) - 3,603
ISO granted 4/21/2025
[F2]Exercise: $17.27→ Common Stock (3,603 underlying)
Footnotes (2)
- [F1]Time-Based Restricted Units granted 4/19/2024 vest as follows: 1) thirty-three percent (33%) vest on April 21, 2025; 2) thirty-three percent (33%) vest on April 20, 2026; and 3) thirty-four percent (34%) vest on April 19, 2027. If the participant does not own Ennis common stock equal to value of 200% of the Participant's annual base salary at the time of each vesting date, then the time-based Subject Units vesting on that date shall vest as follows: fifty percent (50%) of the Time-Based Subject Units shall convert to incentive stock options with two incentive stock options issued for each Subject Unit.
- [F2]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.