On January 1, 2017, Boom Inc. granted its chief executive officer 30 stock options with a strike price of $50 per share. Each option was worth $15. The options vest in two years and expire in five years. As of the grant date, there was a 100% chance that the chief executive officer would remain with the company through the vesting period. The options settle in stock.

Record the journal entry for the grant of the stock options.