ANTERO RESOURCES Corp — Director's Dealing 2022

Apr 19, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANTERO RESOURCES Corp (AR)
CIK: 0001433270
Period of Report: 2022-04-15

Reporting Person: Schultz Yvette K (See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-04-15	Common stock, par value $0.01 per share	F	15656	$35.28	Disposed	88846	Direct
2022-04-15	Common stock, par value $0.01 per share	A	35430	$0.00	Acquired	124276	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-04-15	Performance Share Units	$	A	17715	Acquired		Common Stock, par value $0.01 (17715)	Direct

Footnotes

F1: In connection with the vesting and settlement of restricted stock units ("RSUs") through the issuance of common stock ("Common Stock") of Antero Resources Corporation (the "Issuer") pursuant to the Antero Resources Corporation 2020 Long Term Incentive Plan (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 April 14, 2022.

F2: Includes 68,910 shares of Common Stock subject to previously granted RSUs that remain subject to vesting.

F3: Reflects the grant of RSUs pursuant to the Plan which vest as to 1/3 of the total amount granted on each of the first three anniversaries of April 15, 2022, subject to continued employment through each vesting date.

F4: Includes 104,340 shares of Common Stock subject to previously granted RSUs that remain subject to vesting.

F5: Each performance share unit ("PSU") represents a contingent right to receive one share of Common Stock.

F6: Vesting of the PSUs granted on April 15, 2022 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 the grant date and ending on April 15, 2023, Performance Period Two beginning on April 15, 2023 and ending on April 15, 2024, Performance Period Three beginning on April 15, 2024 and ending on April 15, 2025, and Performance Period Four beginning on the grant date and ending on April 15, 2025.

F7: 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, as 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 April 15, 2025.