| 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 | +186K | +1.63% | $0.00 | 11.6M | Mar 7, 2024 | Direct | F1, F2 |
| transaction | AR | Common stock, par value $0.01 per share | Tax liability | -$748K | -28.2K | -0.24% | $26.48 | 11.6M | Mar 7, 2024 | Direct | F3, F4 |
| holding | AR | Common stock, par value $0.01 per share | 5.28M | Mar 7, 2024 | See Footnote | F5 |
| 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 | +93K | $0.00 | 93K | Mar 7, 2024 | Common stock, par value $0.01 per share | 93K | Direct | F6, F7, F8 |
| 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, 2024, generally subject to continued employment through each vesting date. |
| F2 | Includes 765,605 shares of common stock ("Common Stock") of Antero Resources Corporation (the "Issuer") subject to previously granted RSU awards and 511,912 shares of Common Stock subject to performance share units ("PSUs") in respect of which performance has been certified, in each case, that remain subject to service-based vesting. |
| F3 | In connection with the vesting and settlement of RSUs 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 March 7, 2024. |
| F4 | Includes 701,405 shares of Common Stock subject to previously granted RSU awards and 511,912 shares of Common Stock subject to PSU's in respect of which performance has been certified, in each case, that remain subject to service-based vesting. |
| F5 | 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. |
| F6 | Each PSU represents a contingent right to receive one share of Common Stock. |
| F7 | Vesting of the PSUs granted on March 7, 2024 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, 2024 and ending on March 7, 2025, Performance Period Two beginning on March 7, 2025 and ending on March 7, 2026, Performance Period Three beginning on March 7, 2026 and ending on March 7, 2027, and Performance Period Four beginning on March 7, 2024 and ending on March 7, 2027. |
| F8 | 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, 2027. |
Chairman of the Board, Chief Executive Officer & President