Michael N. Kennedy - May 9, 2023 Form 4 Insider Report for ANTERO RESOURCES Corp (AR)

Role
Chief Financial Officer and Senior Vice President - Finance
Signature
/s/ Yvette K. Schultz, as attorney-in-fact for Michael N. Kennedy
Stock symbol
AR
Transactions as of
May 9, 2023
Transactions value $
$0
Form type
4
Date filed
5/11/2023, 07:12 PM
Previous filing
May 5, 2023
Next filing
Oct 17, 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 +17.5K +1.86% $0.00 959K May 9, 2023 Direct F1, F2
transaction AR Common stock, par value $0.01 per share Award $0 +15.4K +1.6% $0.00 975K May 9, 2023 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On May 9, 2023, the Compensation Committee (the "Compensation Committee") of Antero Resources Corp. (the "Issuer") certified the Issuer's net debt to adjusted EBITDAX multiple over the second performance period, which ran from January 1, 2022 through December 31, 2022, at the maximum level, resulting in 33% of the performance share units ("PSUs") originally granted on April 15, 2021 that vest based on the Issuer's net debt to adjusted EBITDAX multiple becoming earned at 200% of the target amount granted. These PSUs remain outstanding and subject to service-based vesting requirements until December 31, 2023.
F2 Includes 188,659 shares of common stock of the Issuer ("Common Stock") subject to previously granted restricted stock unit awards ("RSUs") and 48,142 shares of Common Stock subject to previously granted PSUs, in each case, that remain subject to service-based vesting.
F3 On May 9, 2023, the Compensation Committee certified the Issuer's net debt to adjusted EBITDAX multiple over the first performance period, which ran from January 1, 2022 through December 31, 2022, at the maximum level, resulting in 33% of the PSUs originally granted on April 15, 2022 that vest based on the Issuer's net debt to adjusted EBITDAX multiple becoming earned at 200% of the target amount granted. These PSUs remain outstanding and subject to service-based vesting requirements until December 31, 2024.
F4 Includes 188,659 shares of Common Stock subject to previously granted RSUs and 63,496 shares of Common Stock subject to previously granted PSUs, in each case, that remain subject to service-based vesting.

Remarks:

Chief Financial Officer and Senior Vice President - Finance