ANTERO RESOURCES Corp — Director's Dealing 2023

Mar 9, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANTERO RESOURCES Corp (AR)
CIK: 0001433270
Period of Report: 2023-03-07

Reporting Person: RADY PAUL M (Director, See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-07	Common stock, par value $0.01 per share	A	192604	$0.00	Acquired	11306427	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-07	Performance Share Units	$	A	96302	Acquired		Common stock, par value $0.01 per share (96302)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock, par value $0.01 per share	5284264	Indirect

Footnotes

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.