On January 1, 2017, a company with a December 31 fiscal year end issued 12,500 shares of $2 par value restricted stock to its senior level management team. The price of the company's unrestricted shares, which traded on the New York Stock Exchange, was as follows:

Grant Date: $19 per share.

12/31/2017: $20 per share.

12/31/2018: $22 per share.

12/31/2019: $18 per share.

12/31/2020: $25 per share.

The restricted shares had a four-year vesting period. What is the amount of compensation expense recorded during 2019?