Accounting for Restricted Stock Awards

Geelong Technology (GT) is a software company based in Boston. Since January 1, 2015, the company has granted restricted stock to its CEO at the beginning of each year to help boost future company performance. Vesting for each award occurs if the CEO stays employed at the company for a period of two years from the grant of the award.

The par value of the stock is $1.

Grant Date	Number of shares	Fair value per share	Service period
1/1/2015	10,000	$6	1 year
1/1/2016	15,000	$8	2 years
1/1/2017	15,000	$10	2 years
1/1/2018	20,000	$11	3 years

It is now September 13, 2018 and the CEO leaves the company.

Create the Journal Entries with calculations in accordance for US GAAP for all events.