The Company grants stock options and restricted stock to key executives and managerial employees and non-employee directors. At fiscal year ended February 28, 2021, the Company has one stock option plan: the 2004 Long-Term Incentive Plan of Ennis, Inc., as amended and restated as of June 30, 2011, formerly the 1998 Option and Restricted Stock Plan amended and restated as of May 14, 2008 (the “Plan”). The Company has 433,648 shares of unissued common stock reserved under the Plan for issuance. 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 (“NYSE”) 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 years ended 2021, 2020 and 2019, the Company included in selling, general and administrative expenses, compensation expense related to share based compensation of $1.2 million, $1.4 million and $1.4 million, respectively.

The following occurred with respect to the Company’s stock options for each of the three years ended February 28, 2021:

						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, 2018		172,496		$	15.95		3.2	$	612
Granted		—			—
Terminated		—			—
Exercised		(110,906	)		15.99
Outstanding at February 28, 2019		61,590		$	15.88		1.8	$	327
Granted		—			—
Terminated		—			—
Exercised		(61,590	)		15.88
Outstanding at February 29, 2020		—		$	—		—	$	—
Granted		—			—
Terminated		—			—
Exercised		—		$	—
Outstanding at February 28, 2021		—			—		—		—
Exercisable at February 28, 2021		—			—		—		—

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

The Company had no unvested stock options outstanding at any time during the fiscal year ended February 28, 2021.

The following occurred with respect to the Company’s restricted stock awards for each of the three fiscal years ended February 28, 2021:

				Weighted
				Average
	Number of			Grant Date
	Shares			Fair Value
Outstanding at March 1, 2018		152,675		$	16.59
Granted		83,789			20.54
Terminated		—			—
Vested		(81,359	)		16.01
Outstanding at February 28, 2019		155,105		$	19.03
Granted		66,669			20.41
Terminated		(3,920	)		17.02
Vested		(73,928	)		18.90
Outstanding at February 29, 2020		143,926		$	19.79
Granted		59,315			17.09
Terminated		(10,098	)		19.16
Vested		(73,414	)		19.16
Outstanding at February 28, 2021		119,729		$	18.90

As of February 28, 2021, the total remaining unrecognized compensation cost related to unvested restricted stock was approximately $1.3 million. The weighted average remaining requisite service period of the unvested restricted stock awards was 1.5 years. As of February 28, 2021, the Company’s outstanding restricted stock had an underlying fair value of $2.3 million at date of grant.