As part of its stock-based compensation package, on January 1, 2016, Weldon Well Supplies granted restricted stock units (RSUs) representing 100,000 $1 par common shares. At exercise, holders of the RSUs are entitled to receive cash or stock equal in value to the market price of those shares at exercise. The RSUs cannot be exercised until the end of 2019 (vesting date) and expire at the end of 2021. The $1 par common shares have a market price of $5.8 per share on the grant date. The fair value at December 31, 2016, 2017, 2018, 2019, and 2020, is $15.6, $11.6, $15.6, $9.6, and $11.6, respectively. All recipients are expected to remain employed through the vesting date.

1.Record the award of RSUs on January 1, 2016.

2.Record compensation expense on December 31, 2016.

3.Record compensation expense on December 31, 2017.

4.Record compensation expense on December 31, 2018.

5.Record the appropriate journal entry for the RSUs on December 31, 2019, as RSUs cannot be exercised until the end of 2019 (vesting date).

6.Record the entry for compensation expense on December 31, 2020. The RSUs remain unexercised as of the transaction date.

7.Record compensation expense on June 31, 2021.

8.Record the entry for compensation expense when the share price is $12.6, and executives choose to receive cash.