Paul M. Rady - Apr 15, 2022 Form 4 Insider Report for Antero Midstream Corp (AM)

Role
Chief Executive Officer, Director
Signature
/s/ Yvette K. Schultz, as attorney-in-fact for Paul M. Rady
Stock symbol
AM
Transactions as of
Apr 15, 2022
Transactions value $
-$1,965,425
Form type
4
Date filed
4/19/2022, 08:14 PM
Next filing
Apr 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AM Common stock, par value $0.01 per share Tax liability -$1.2M -106K -5.6% $11.28 1.79M Apr 15, 2022 Direct F1, F2
transaction AM Common stock, par value $0.01 per share Award $0 +632K +35.31% $0.00 2.42M Apr 15, 2022 Direct F3, F4
transaction AM Common stock, par value $0.01 per share Options Exercise +155K +6.42% 2.58M Apr 18, 2022 Direct F4, F5
transaction AM Common stock, par value $0.01 per share Tax liability -$769K -68.3K -2.65% $11.26 2.51M Apr 18, 2022 Direct F4, F6
holding AM Common stock, par value $0.01 per share 1.18M Apr 15, 2022 See Footnote F7

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 AM Performance Share Units Options Exercise -155K -100% 0 Apr 18, 2022 Common Stock, par value $0.01 155K Direct F5, F6
* 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 through the issuance of common stock ("Common Stock") of Antero Midstream Corporation (the "Issuer") pursuant to the Antero Midstream Corporation 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 591,907 shares of Common Stock subject to previously granted restricted stock unit awards that remain subject to vesting.
F3 Reflects the grant of restricted stock units 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 1,223,555 shares of Common Stock subject to previously granted restricted stock unit awards that remain subject to vesting.
F5 Each performance share unit ("PSU") represented a contingent right to receive one share of Common Stock. On April 18, 2022, the Compensation Committee of the Issuer certified performance with respect to these PSUs originally granted on April 15, 2019, which vested based on the Issuer's return on invested capital over a three year period.
F6 In connection with the vesting and settlement of PSUs through the issuance of Common Stock pursuant to 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 18, 2022.
F7 Represents shares of Common Stock held by Mockingbird Investment, LLC ("Mockingbird"). The Reporting Person owns a 3.68% limited liability company interest in Mockingbird, and a trust under his control owns the remaining 96.32%. The Reporting Person disclaims beneficial ownership of all shares of Common Stock held by Mockingbird except to the extent of his pecuniary interest therein.