Krueger Brendan E. 4
4 · ANTERO RESOURCES Corp · Filed Mar 18, 2026
Research Summary
AI-generated summary of this filing
Antero Resources (AR) CFO Brendan Krueger Exercises PSUs and Sells Shares
What Happened
Brendan E. Krueger, Chief Financial Officer, Senior VP—Finance & Treasurer of Antero Resources Corp. (AR), had performance share units (PSUs) from the 2023 award convert into common stock on March 16, 2026. The filing reports 5,132 shares acquired on exercise/conversion (no cash exercise price). To satisfy tax withholding obligations, 6,706 shares were withheld/disposed at $41.03 per share, producing proceeds of $275,147. This was a PSU settlement (award conversion) with routine tax withholding rather than an open-market purchase or discretionary sale.
Key Details
- Transaction date(s): March 16, 2026; Form 4 filed March 18, 2026.
- Conversion/acquisition: 5,132 shares (exercise/conversion of derivative, code M) — no cash paid.
- Tax withholding/disposal: 6,706 shares withheld/disposed at $41.03 per share = $275,147 (code F).
- Footnote: The 2023 TSR PSUs’ fourth tranche was certified at 101.52% of target for that period, representing 25.38% of the total target number of 2023 TSR PSUs granted. The withholding was done by the company to satisfy tax obligations based on the March 16 closing price.
- Shares owned after the transaction: Not specified in the filing.
- Timing: Filing appears timely (transaction period reported as Mar 16, 2026; filing date Mar 18, 2026).
Context
This was a settlement of incentive PSUs that became earned after certification of performance results, not a voluntary market sale. The withholding of shares to cover taxes is a routine administrative action and should not be read as a directional bet by the insider.
Insider Transaction Report
- Exercise/Conversion
Common stock, par value $0.01 per share
[F1][F2]2026-03-16+5,132→ 335,325 total - Tax Payment
Common stock, par value $0.01 per share
[F3][F2]2026-03-16$41.03/sh−6,706$275,147→ 328,619 total - Exercise/Conversion
Performance Share Unit
[F1]2026-03-16−5,132→ 0 total→ Common stock, par value $0.01 per share (5,132 underlying)
Footnotes (3)
- [F1]On March 7, 2023, the Compensation Committee (the "Compensation Committee") of Antero Resources Corp. (the "Issuer") granted performance share units (the "2023 TSR PSUs"), 25% of which vest based on the Issuer's absolute total shareholder return ("TSR") over the fourth and final performance period, which ran from March 7, 2023 through March 7, 2026 (the "Fourth Tranche"). On March 16, 2026, the Compensation Committee certified the Issuer's absolute TSR over the fourth performance period between the target and maximum performance level, resulting in the Fourth Tranche becoming earned at 101.52% of the target amount granted for that tranche and 25.38% of the total target number of 2023 TSR PSUs granted.
- [F2]Includes 77,559 shares of common stock of the Issuer ("Common Stock") subject to restricted stock units ("RSU") awards and 34,550 performance share units ("PSUs") in respect of which performance has been certified, in each case that remain subject to service-based vesting.
- [F3]In connection with the vesting and settlement of the 2023 TSR PSUs through the issuance of Common Stock pursuant to the Amended and Restated 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 March 16, 2026.