Kennedy Michael N. 4

What Happened
Michael N. Kennedy, Chief Executive Officer and President of Antero Midstream (AM), received 203,212 shares on February 24, 2026 as the settlement of vested performance share units (PSUs). On the same date the company withheld/disposed 89,392 shares to satisfy tax withholding obligations at a price of $22.12 per share, generating proceeds of $1,977,351. The PSU awards were originally granted April 15, 2023 and vested based on the issuer’s return on invested capital over a three‑year period.

Key Details

• Transaction date: February 24, 2026; Form 4 filed February 26, 2026 (timely filing).
• Award/acquisition: 203,212 shares credited (code A) at $0.00 (PSU settlement).
• Tax withholding/disposition: 89,392 shares (code F) withheld/surrendered at $22.12 = $1,977,351.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Other outstanding awards: filing notes 457,904 shares subject to previously granted restricted stock units that remain subject to vesting (footnote).
• Footnotes: PSUs vested based on ROIC and were certified by the Compensation Committee (F1); shares were withheld by the issuer to satisfy tax obligations and the withholding number was based on the Feb 24 closing price (F3).

Context
This was a compensation settlement of performance-based equity, not an open-market purchase or discretionary sale. The withholding of shares to cover taxes is a common, administrative disposition and does not necessarily indicate insider sentiment about the stock.