Kennedy Michael N. 4

What Happened
Michael N. Kennedy, Chief Executive Officer & President (and director) of Antero Resources (AR), sold a total of 185,826 shares on May 4, 2026. The sales were reported as two transactions: 170,740 shares at a weighted-average price of $39.31 (proceeds $6,711,789) and 15,086 shares at a weighted-average price of $39.61 (proceeds $597,556). Combined proceeds were approximately $7,309,345. These were sales (not purchases) and therefore are often routine liquidity transactions rather than a direct bullish signal.

Key Details

• Transaction date: May 4, 2026 (both entries). Transaction type: Sale (code S), described as "open market or private sale."
• Prices and ranges: 170,740 shares @ $39.31 (weighted avg; prices in that block ranged $38.57–$39.56); 15,086 shares @ $39.61 (weighted avg; prices in that block ranged $39.57–$39.75). The filer can provide exact per-trade breakdown on request (per footnotes).
• Plan/authority: Sales were executed under a Rule 10b5-1 trading plan adopted by Kennedy on November 6, 2025.
• Ownership after transaction: The excerpt does not state a final total share count; footnote notes holdings include 172,117 RSUs and 70,747 performance share units that remain subject to service-based vesting.
• Filing timeliness: Report filed May 4, 2026 (same day as the reported date), indicating a timely Form 4 filing in this excerpt.

Context: These were planned sales under a 10b5-1 plan (pre-arranged trading program). Such sales are common for executives managing planned liquidity and do not by themselves indicate a change in company outlook.