Kennedy Michael N. 4

What Happened

• Michael N. Kennedy, Chief Executive Officer & President (also a director) of Antero Resources Corp. (AR), received multiple equity awards and exercised/converted derivative awards on Feb 25, 2026. Awards/vests recorded that day include grants of 16,292; 27,606; 26,672; and 21,216 shares (awards/vesting) and an exercise/conversion of 7,718 shares. To satisfy tax withholding obligations related to the vesting/settlement, 74,152 shares were withheld/disposed at $34.41 per share, totaling $2,551,570.

Key Details

• Transaction date: February 25, 2026; Form 4 filed February 26, 2026 (filed next day).
• Withheld/disposed (tax withholding): 74,152 shares at $34.41 = $2,551,570 (code F).
• Awards/grants: 16,292; 27,606; 26,672; 21,216 shares (code A).
• Exercises/conversions: 7,718 shares shown as exercised/converted (code M); one derivative-related disposition also reported (listed as N/A).
• Notable footnotes: Compensation Committee certified performance metrics resulting in PSUs vesting at enhanced (200%) levels for several grant tranches (see footnotes F1, F3, F5, F7); the withholding to satisfy tax obligations was done by withholding shares based on the Feb 25, 2026 closing price (footnote F11). The filing lists additional RSUs/PSUs that remain subject to service-based vesting.
• Shares owned after transaction: not specified in the provided excerpt of this filing.

Context

• This looks like routine post-vesting activity: PSUs/RSUs vested/settled and Kennedy had shares withheld (not an open-market sale) to cover tax liabilities — commonly called a tax-withholding or cashless settlement. The grants and performance certifications indicate some PSUs were earned at above-target performance levels, which triggered the issuance/settlement. No indication in the filing excerpt that the report was late.