The Company grants stock options and restricted stock to key executives, managerial employees and non-employee directors. At May 31, 2019, 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 582,853 shares of unissued common stock reserved under the Plan for issuance as of May 31, 2019. 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 May 31, 2019 and May 31, 2018, the Company included compensation expense related to share-based compensation of $0.4 million and $0.3 million, respectively, in selling, general, and administrative expenses.

As of May 31, 2019, the Company had no outstanding vested or unvested stock options. The Company had the following stock option activity for the three months ended May 31, 2019:

						Weighted
				Weighted		Average		Aggregate
	Number			Average		Remaining		Intrinsic
	of Shares			Exercise		Contractual		Value(a)
	(exact quantity)			Price		Life (in years)		(in thousands)
Outstanding at March 1, 2019		61,590		$	15.88		1.8	$	327
Granted		—			—
Terminated		—			—
Exercised		(61,590	)	$	15.88
Outstanding at May 31, 2019		—			—		—		—
Exercisable at May 31, 2019		—			—		—		—

(a)	Intrinsic value is measured as the excess of fair market value of the Company’s common stock as reported on the New York Stock Exchange over the applicable exercise price.

No stock options were granted during the three months ended May 31, 2019 and May 31, 2018.

A summary of the stock options exercised and tax benefits realized from stock based compensation is presented below (in thousands):

	Three months ended
	May 31,
	2019		2018
Total cash received	$	—	$	—
Income tax benefits		—		—
Total grant-date fair value		201		—
Intrinsic value		267		—

The Company had no unvested stock options outstanding at any time during the three months ended May 31, 2019.

The Company had the following restricted stock activity for the three months ended May 31, 2019:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2019		155,105		$	19.03
Granted		51,073			20.50
Terminated		—			—
Vested		(69,880	)		18.69
Outstanding at May 31, 2019		136,298		$	19.76

As of May 31, 2019, the total remaining unrecognized compensation cost related to unvested restricted stock granted under the Plan was approximately $2.4 million. The weighted average remaining requisite service period of the unvested restricted stock awards was 2.1 years.