How much cumulative compensation expense would be recognized

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Question - Under its restricted stock award plan, Urivi grants 1 million of its no par common shares to each of five key executives on January 1, 20X7. The awards vest 1/4 at the end of each year. The unvested shares are subject to forfeiture if employment is terminated. Shares have a current price of $12 per share and a similar option would have a fair value of $11. One executive leaves the company on January 1, 20X9. How much cumulative compensation expense would be recognized for these awards at the end of 4 years?

a. $55,000,000

b. $48,000,000

c. $60,000,000

d. $54,000,000

e. $49,500,000

Reference no: EM132525147

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