BURNETT VERA 4

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.