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Cash-settled RSU for Ennis (NYSE: EBF) CEO Keith Walters

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

ENNIS, INC. Chairman, President and CEO Keith S. Walters reported a cash-settled equity transaction. He exercised a restricted stock unit (RSU) award originally granted on April 19, 2024, tied to 23,176 shares of common stock. The filing notes this was a cash settlement and no common shares were issued in connection with the exercise.

Positive

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Negative

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Insider WALTERS KEITH S
Role Chairman, President and CEO
Type Security Shares Price Value
Exercise RSU granted 4/19/2024 23,176 $0.00 --
Holdings After Transaction: RSU granted 4/19/2024 — 23,176 shares (Direct, null)
Footnotes (1)
  1. [object Object]
RSU underlying shares 23,176 shares Underlying common stock for RSU exercised on April 20, 2026
Exercise price $0.0000 per share Conversion or exercise price for RSU derivative security
Shares issued 0 shares Footnote states cash settlement, no shares issued
RSU financial
"RSU granted 4/19/2024"
Restricted stock units (RSUs) are a form of company shares given to employees as part of their compensation, usually with certain restrictions or conditions, such as remaining with the company for a set period. When these restrictions lift, employees receive actual shares that they can sell or hold. For investors, RSUs can impact a company's stock supply and reflect the company's commitment to attracting and retaining talent.
derivative security financial
"transaction_code_description: Exercise or conversion of derivative security"
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
cash settlement financial
"Cash settlement, no shares issued."
Cash settlement is a process where, instead of exchanging physical assets like stocks or commodities, the parties involved settle the difference in value with money after a contract ends. For investors, it simplifies transactions by avoiding the need to handle or deliver the actual asset, making it quicker and more convenient to complete trades. This method ensures a straightforward way to settle agreements based on their final value.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
WALTERS KEITH S
(Last)(First)(Middle)
2441 PRESIDENTIAL PARKWAY
(Street)
MIDLOTHIAN TEXAS 76065
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
ENNIS, INC. [ EBF ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
XOfficer (give title below)Other (specify below)
Chairman, President and CEO
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/20/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
RSU granted 4/19/2024$004/20/2026M23,176 (1) (1)Common Stock23,176$023,176D
Explanation of Responses:
1. Cash settlement, no shares issued.
/s/Vera Burnett, Attorney-in-Fact for Keith S. Walters04/21/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Ennis (EBF) report for Keith S. Walters?

Ennis reported that Chairman, President and CEO Keith S. Walters exercised a restricted stock unit award linked to 23,176 common shares. The award was cash settled, and the disclosure states that no actual Ennis common shares were issued in this transaction.

How many Ennis (EBF) shares were tied to the RSU exercised by the CEO?

The restricted stock unit exercised by the CEO referenced 23,176 underlying shares of Ennis common stock. According to the disclosure, the RSU was settled in cash rather than stock, so those underlying shares were not actually issued to the reporting person.

Was stock issued in the Ennis (EBF) CEO’s latest Form 4 transaction?

No, the filing explicitly states the event was a cash settlement and that no shares were issued. Although the RSU referenced 23,176 underlying common shares, settlement occurred in cash rather than through delivery of Ennis stock to the executive.

What does the transaction code on the Ennis (EBF) Form 4 indicate?

The Form 4 shows transaction code “M,” which denotes an exercise or conversion of a derivative security. In this case, it applied to a restricted stock unit tied to 23,176 underlying common shares that was ultimately settled in cash with no share issuance.

Does the Ennis (EBF) Form 4 show a buy or sell of common stock?

The Form 4 reflects an exercise of a restricted stock unit rather than an open-market buy or sell of common stock. The footnote clarifies it was cash settled, so no Ennis shares changed hands despite the 23,176 underlying shares referenced.