ANTERO RESOURCES Corp — Director's Dealing 2025

May 8, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANTERO RESOURCES Corp (AR)
CIK: 0001433270
Period of Report: 2025-05-06

Reporting Person: Schultz Yvette K (See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-06	Common stock, par value $0.01 per share	M	10606	—	Acquired	340580	Direct
2025-05-06	Common stock, par value $0.01 per share	F	8561	$35.50	Disposed	332019	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-06	Performance Share Unit	$	M	10606	Disposed		Common stock, par value $0.01 per share (10606)	Direct

Footnotes

F1: On May 6, 2025, 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, 2024 through April 15, 2025, at the maximum level, resulting in 25% of the target number of performance share units ("PSUs") originally granted on April 15, 2022 that vest based on absolute TSR becoming earned at 200% of the target amount granted over such third performance period.

F2: On May 6, 2025, the Compensation Committee also certified the Issuer's absolute TSR performance over the fourth performance period, which ran from April 15, 2022 through April 15, 2025, in between floor and target levels, resulting in 25% of the PSUs originally granted on April 15, 2022 that vest based on absolute TSR becoming earned at 39.49% of the target amount granted over such fourth performance period. The service-based vesting requirements applicable to the PSUs originally granted on April 15, 2022 that vest based on absolute TSR were satisfied as of April 15, 2025 and the awards will be settled in connection with the Compensation Committee's certification of performance.

F3: Includes 100,804 shares of common stock of the Issuer ("Common Stock") subject to previously granted restricted stock unit awards ("RSUs") and 104,849 shares of Common Stock subject to previously granted PSUs, in each case, that remain subject to service-based vesting.

F4: In connection with the vesting and settlement of the PSUs originally granted on April 15, 2022 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 6, 2025.