W. Patrick Ash - Apr 15, 2022 Form 4 Insider Report for ANTERO RESOURCES Corp (AR)

Role
Senior Vice President - Reserves, Planning and Midstream
Signature
/s/ Yvette K. Schultz, as attorney-in-fact for W. Patrick Ash
Stock symbol
AR
Transactions as of
Apr 15, 2022
Transactions value $
-$294,094
Form type
4
Date filed
4/19/2022, 07:40 PM
Previous filing
Jan 24, 2022
Next filing
Apr 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AR Common stock, par value $0.01 per share Tax liability -$294K -8.34K -1.01% $35.28 813K Apr 15, 2022 Direct F1, F2
transaction AR Common stock, par value $0.01 per share Award $0 +36.8K +4.53% $0.00 850K Apr 15, 2022 Direct F3, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction AR Performance Share Units Award $0 +18.4K $0.00 18.4K Apr 15, 2022 Common Stock, par value $0.01 18.4K Direct F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 In connection with the vesting and settlement of restricted stock units ("RSUs") through the issuance of common stock ("Common Stock") of Antero Resources Corporation (the "Issuer") pursuant to the Antero Resources Corporation 2020 Long Term Incentive Plan (the "Plan"), the Issuer withheld Common Stock that would otherwise have been issued to the Reporting Person to satisfy their tax withholding obligations. The number of shares of Common Stock withheld was determined based on the closing price per share of Common Stock on April 14, 2022.
F2 Includes 393,888 shares of Common Stock subject to previously granted RSUs that remain subject to vesting.
F3 Reflects the grant of RSUs pursuant to the Plan which vest as to 1/3 of the total amount granted on each of the first three anniversaries of April 15, 2022, subject to continued employment through each vesting date.
F4 Includes 430,736 shares of Common Stock subject to previously granted RSUs that remain subject to vesting.
F5 Each performance share unit ("PSU") represents a contingent right to receive one share of Common Stock.
F6 Vesting of the PSUs granted on April 15, 2022 is contingent upon the achievement of a performance and service requirement. The performance component measures absolute total shareholder return over each of four performance periods: Performance Period One beginning on the grant date and ending on April 15, 2023, Performance Period Two beginning on April 15, 2023 and ending on April 15, 2024, Performance Period Three beginning on April 15, 2024 and ending on April 15, 2025, and Performance Period Four beginning on the grant date and ending on April 15, 2025.
F7 The performance component for one quarter of the PSUs is determined following the completion of each respective performance period. Depending on the level of achievement of such goals, the actual number of PSUs earned could range from 0% to 200% of the target number of PSUs, as shown in column 5. Irrespective of the performance achieved during each performance period, the PSUs generally will not vest unless the Reporting Person also remains continuously employed from the grant date through April 15, 2025.

Remarks:

Senior Vice President - Reserves, Planning and Midstream