Form 4 - Statement of changes in beneficial ownership of securities

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kennedy Michael N.

(Last)

(First)

(Middle)

1615 WYNKOOP STREET

(Street)

DENVER

80202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ANTERO RESOURCES Corp [ AR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock, par value $0.01 per share	05/14/2024		M		26,260⁽¹⁾⁽²⁾	A	$0	1,058,511⁽³⁾	D
Common stock, par value $0.01 per share	05/14/2024		F		17,325⁽⁴⁾	D	$33.97	1,041,186⁽³⁾	D
Common stock, par value $0.01 per share	05/14/2024		M		11,516⁽⁵⁾	A	$0	1,052,702⁽⁶⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Share Unit	⁽¹⁾⁽²⁾	05/14/2024		M			26,260	⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common stock, par value $0.01 per share	26,260	⁽¹⁾⁽²⁾	0	D
Performance Share Unit	⁽⁵⁾	05/14/2024		M			11,516	⁽⁵⁾	⁽⁵⁾	Common stock, par value $0.01 per share	11,516	⁽⁵⁾	11,514	D

Explanation of Responses:

1. On May 14, 2024, the Compensation Committee (the "Compensation Committee") of Antero Resources Corp. (the "Issuer") certified the Issuer's absolute total shareholder return ("TSR") performance over the third performance period, which ran from April 15, 2023 through April 15, 2024, at the maximum level, resulting in 25% of the performance share units ("PSUs") originally granted on April 15, 2021 that vest based on absolute TSR becoming earned at 200% of the target amount granted over such third performance period.

2. On May 14, 2024, the Compensation Committee also certified the Issuer's absolute TSR performance over the fourth performance period, which ran from April 15, 2021 through April 15, 2024, at the maximum level, resulting in 25% of the PSUs originally granted on April 15, 2021 that vest based on absolute TSR becoming earned at 200% of the target amount granted over such fourth performance period. The service-based vesting requirements applicable to the PSUs originally granted on April 15, 2021 that vest based on absolute TSR were satisfied as of April 15, 2024.

3. Includes 196,294 shares of common stock of the Issuer ("Common Stock") subject to previously granted restricted stock unit awards ("RSUs") and 74,604 shares of Common Stock subject to previously granted PSUs, in each case, that remain subject to service-based vesting.

4. In connection with the vesting and settlement of the PSUs originally granted on April 15, 2021 through the issuance of Common Stock pursuant to the Antero Resources Corporation 2020 Long-Term Incentive Plan, the Issuer withheld Common Stock that would have otherwise 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 May 14, 2024.

5. On May 14, 2024, the Compensation Committee certified the Issuer's absolute TSR over the second performance period, which ran from April 15, 2023 through April 15, 2024, at the maximum level, resulting in 25% of the PSUs originally granted on April 15, 2022 that vest based on the Issuer's absolute TSR becoming earned at 200% of the target amount granted. These PSUs remain outstanding and subject to service-based vesting requirements until April 15, 2025.

6. Includes 196,294 shares of Common Stock subject to previously granted RSUs and 86,120 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

	/s/ Yvette K. Schultz, as attorney-in-fact for Michael N. Kennedy	05/16/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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