On January 1, 2020,PronghornCorporation granted its president a share appreciation rights (SARs) package covering employment over a three-year period. The package was based on SARs increases for19,410shares over the fair value on January 1, 2020 of $23per common share. The SARs package to be paid in cash at the end of the third year (i.e., December 31, 2022).

The fair values of thePronghornshares were as follows:

December 31, 2020$25/shareDecember 31, 2021$28/shareDecember 31, 2022$26/share