ENNIS, INC.

Code

M

Shares

2,000

Price

$17.27

Footnotes

2

Time-Based Restricted Units granted 4/19/2024 vest as follows: 1) thirty-three percent (33%) vest on April 21, 2025; 2) thirty-three percent (33%) vest on April 20, 2026; and 3) thirty-four percent (34%) vest on April 19, 2027. If the participant does not own Ennis common stock equal to value of 200% of the Participant's annual base salary at the time of each vesting date, then the time-based Subject Units vesting on that date shall vest as follows: fifty percent (50%) of the Time-Based Subject Units shall convert to incentive stock options with two incentive stock options issued for each Subject Unit. Option contract expires ten years from date of grant. Option contract expires ten years from date of grant, and provides that shares will become exercisable 1/3 annually commencing on the first anniversary of grant. All option contracts are granted at market price on date of grant.