Krueger Brendan E. 4

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.