Paul M. Rady - Mar 7, 2023 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
Mar 7, 2023
Transactions value $
$0
Form type
4
Date filed
3/9/2023, 05:24 PM
Previous filing
Feb 7, 2023
Next filing
Apr 18, 2023

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 Award $0 +193K +1.73% $0.00 11.3M Mar 7, 2023 Direct F1, F2
holding AR Common stock, par value $0.01 per share 5.28M Mar 7, 2023 See Footnote F6

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 +96.3K $0.00 96.3K Mar 7, 2023 Common stock, par value $0.01 per share 96.3K Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the grant of restricted stock units ("RSUs") pursuant to the Antero Resources Corporation 2020 Long Term Incentive Plan (the "Plan") which vest as to 1/3 of the total amount granted on each of the first three anniversaries of March 7, 2023, generally subject to continued employment through each vesting date.
F2 Includes 814,856 shares of common stock ("Common Stock") of Antero Resources Corporation (the "Issuer") subject to RSU awards and 389,114 performance share units ("PSUs") in respect of which performance has been certified, in each case that remain subject to service-based vesting.
F3 Each PSU represents a contingent right to receive one share of Common Stock.
F4 Vesting of the PSUs granted on March 7, 2023 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 March 7, 2023 and ending on March 7, 2024, Performance Period Two beginning on March 7, 2024 and ending on March 7, 2025, Performance Period Three beginning on March 7, 2025 and ending on March 7, 2026, and Performance Period Four beginning on March 7, 2023 and ending on March 7, 2026.
F5 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 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 March 7, 2026.
F6 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