On January 1, 2022 (the date of grant), Lutz Corporation issues 2,000 restricted shares to its executives. The fair value of these shares is $75,000, and their par value is $10,000. The shares are forfeited if the executives do not complete 3 years of employment with the company. Prepare the journal entry (if any) on January 1, 2022, and on December 31, 2022, assuming the service period is 3 years.