Prepare the necessary entries for 2018, 2019 and 2020 for the following events using the fair value method. If no entry is needed, write "No Entry Necessary."

1. On 1/1/18, the stockholders adopted a restricted stock plan for 5 executives whereby each executive was granted to receive to 10,000 shares of common stock. The par value is $10 per share. The fair value of the stock is $30 share and so the value of this entire plan is $ 1,500,000.

2. On 2/1/18, the stock was issued as restricted for each of the five executives in this plan. The executives must remain employed by the company for three years in order to vest in the stock. It is assumed that the stock is for services performed equally in 2018,2019 and 2020.

3. All five executives were employed through December 31, 2020.