Paul M. Rady - Apr 20, 2022 Form 4 Insider Report for ANTERO RESOURCES Corp (AR)

Role: Chairman of the Board, Chief Executive Officer & President, Director
Signature: /s/ Yvette K. Schultz, as attorney-in-fact for Paul M. Rady
Stock symbol: AR
Transactions as of: Apr 20, 2022
Transactions value $: -$16,395,624
Form type: 4
Date filed: 4/21/2022, 08:57 PM
Previous filing: Apr 19, 2022
Next filing: May 9, 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	Options Exercise		+1.02M	+9.91%		11.4M	Apr 20, 2022	Direct	F1, F2
transaction	AR	Common stock, par value $0.01 per share	Tax liability	-$16.4M	-451K	-3.97%	$36.39	10.9M	Apr 20, 2022	Direct	F2, F3
holding	AR	Common stock, par value $0.01 per share						5.28M	Apr 20, 2022	See Footnote	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	Options Exercise		-1.02M	-100%		0	Apr 20, 2022	Common stock, par value $0.01 per share	1.02M		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each performance share unit ("PSU") represented a contingent right to receive one share of common stock ("Common Stock") of Antero Resources Corporation (the "Issuer"). On April 20, 2022, the Compensation Committee of the Issuer certified performance with respect to these PSUs originally granted on April 15, 2019, which vested at 200% of the original target number of PSUs granted based on the Issuer's absolute total shareholder return over a three-year period.
F2	Includes 479,395 shares of Common Stock subject to previously granted RSUs that remain subject to vesting and 125,624 shares of Common Stock subject to previously granted performance stock unit awards ("PSU") that remain subject to vesting.
F3	In connection with the vesting and settlement of PSUs through the issuance of Common Stock pursuant to the Antero Resources Corporation Long-Term Incentive 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 20, 2022.
F4	Includes 2,822,552 shares of Common Stock held by Salisbury Investment Holdings LLC ("Salisbury") and 2,461,712 shares of Common Stock held by Mockingbird Investments LLC ("Mockingbird"). The Reporting Person owns a 95% limited liability company interest in Salisbury and his spouse owns the remaining 5%. The Reporting Person owns a 13.1874% limited liability company interest in Mockingbird and two trusts under his control own the remaining 86.8126%. The Reporting Person disclaims beneficial ownership of all shares of Common Stock held by Salisbury and Mockingbird except to the extent of his pecuniary interest therein.

Remarks:

Chairman of the Board, Chief Executive Officer & President