On January 1, 2019, HoneySuckle Corp. (HSC), a publicly accountable entity, issued share appreciation rights (SARs) to each of its employees. A total of 3,000 SARs were granted. The vesting period was from January 1, 2019, to December 31, 2020. In order to exercise their SARs, employees had to remain employed by HSC at December 31, 2020. The exercise period of the SARs was from December 31, 2020, to December 31, 2021. At December 31, 2019, HSC’s management had estimated that a total of 2,500 SARs would vest. At December 31, 2020, the actual number of SARs vested was 2,600. Of these, 1,750 were exercised on December 31, 2020, at $5.50 each, and the remaining SARs were exercised throughout 2021 at an average of $3.80 each. The fair value of each SAR was estimated at $6.70 on December 31, 2019, and $5.25 on December 31, 2020.

Required: Prepare a reconciliation of all changes in the SAR liability account for each of 2019, 2020, and 2021.