The Company grants stock options and restricted stock to key executives, managerial employees and non-employee directors. At November 30, 2020, 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 470,888 shares of unissued common stock reserved under the Plan for issuance as of November 30, 2020. 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, 2020 and November 30, 2019, the Company included in selling, general and administrative expenses, compensation expense related to share-based compensation of $0.2 million and $0.3 million, respectively. For the nine months ended November 30, 2020 and November 30, 2019, the Company included in selling, general and administrative expenses, compensation expense related to share-based compensation of $0.9 million and $1.0 million, respectively.

As of November 30, 2020, the Company had no outstanding vested or unvested stock options. The Company had no stock option activity for the nine months ended November 30, 2020.

No stock options were granted during the nine months ended November 30, 2020 and November 30, 2019.

The Company had no unvested stock options outstanding at any time during the nine months ended November 30, 2020.

The following activity occurred with respect to the Company’s restricted stock awards for the nine months ended November 30, 2020:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2020		143,926		$	19.79
Granted		59,315			17.09
Terminated		(10,099	)		19
Vested		(73,413	)		19.16
Outstanding at November 30, 2020		119,729		$	18.90

As of November 30, 2020, the total remaining unrecognized compensation cost related to unvested restricted stock granted under the Plan was approximately $1.6 million. The weighted average remaining requisite service period of the unvested restricted stock awards was 1.7 years.