On January $1,2024,$ Sumo Company awarded $16\mathrm{.}5$ million of its $$1$ par common shares to key officers, subject to forfeiture if employment is terminated within three years. On the date of the grant, the stock had a market price of $$4$ per share.

Required:

$1.$ Determine the total compensation cost pertaining to the restricted shares.

$2.$ Prepare the appropriate journal entry to record the award on January $1,2024.$

$3.$ Prepare the appropriate journal entry to record compensation expense on December $31,2024,2025,$ and $2026.($An identical journal entry is made in each year, so just prepare it once and write the $3$ dates above the journal entry$)$

$4.$ Prepare the appropriate journal entry to record the lifting of restrictions on December $31,2026.$