What are the 2023 TSR performance share units mentioned in the Antero Resources (AR) Form 4?

The 2023 TSR performance share units are awards that vest based on Antero Resources’ absolute total shareholder return over defined periods. For the fourth performance period ending March 7, 2026, the tranche was earned at 101.52% of target, representing 25.38% of the total target 2023 TSR PSU grant.

Antero Resources (NYSE: AR) officer exercises 2023 TSR PSUs, shares withheld for taxes

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Antero Resources Corp officer Brendan E. Krueger reported a compensation-related share transaction involving performance share units and common stock. On March 16, 2026, he exercised 5,132 performance share units, receiving the same number of common shares at a $0.00 exercise price.

In connection with the vesting and settlement of 2023 TSR performance share units, the company then withheld 6,706 common shares at $41.03 per share to cover tax obligations. After these entries, Krueger directly holds 328,619 common shares, which footnotes state include 77,559 restricted stock units and 34,550 performance share units that remain subject to service-based vesting.

Insider Trade Summary

5,132 shares exercised/converted

Mixed 3 txns

Insider Krueger Brendan E.

Role See Remarks

Type	Security	Shares	Price	Value
Exercise	Performance Share Unit	5,132	$0.00	--
Exercise	Common stock, par value $0.01 per share	5,132	$0.00	--
Tax Withholding	Common stock, par value $0.01 per share	6,706	$41.03	$275K

Holdings After Transaction: Performance Share Unit — 0 shares (Direct); Common stock, par value $0.01 per share — 335,325 shares (Direct)

Footnotes (1)

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. 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. 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.

Form 4 Insider Transactions: What Each Field Means →

03/18/2026 - 08:47 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Krueger Brendan E.

(Last)

(First)

(Middle)

1615 WYNKOOP STREET

(Street)

DENVER

COLORADO

80202

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ANTERO RESOURCES Corp [ AR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock, par value $0.01 per share	03/16/2026		M		5,132⁽¹⁾	A	$0	335,325⁽²⁾	D
Common stock, par value $0.01 per share	03/16/2026		F		6,706⁽³⁾	D	$41.03	328,619⁽²⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Share Unit	⁽¹⁾	03/16/2026		M			5,132	⁽¹⁾	⁽¹⁾	Common stock, par value $0.01 per share	5,132	⁽¹⁾	0	D

Explanation of Responses:

1. 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.

2. 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.

3. 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.

Remarks:

Chief Financial Officer, Senior Vice President - Finance and Treasurer

	/s/ Yvette K. Schultz, as attorney-in-fact for Brendan E. Krueger	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Brendan E. Krueger report for Antero Resources (AR)?

Brendan E. Krueger reported exercising 5,132 performance share units into common stock and a related tax withholding. The company withheld 6,706 common shares at $41.03 per share to satisfy tax obligations tied to the vesting of 2023 TSR performance share units.

How many Antero Resources (AR) shares does Brendan E. Krueger hold after this Form 4?

After the reported transactions, Brendan E. Krueger directly holds 328,619 shares of Antero Resources common stock. Footnotes explain this figure includes 77,559 shares subject to restricted stock units and 34,550 performance share units where performance is certified but service-based vesting is still required.

Why were 6,706 Antero Resources (AR) shares withheld from Brendan E. Krueger?

Antero Resources withheld 6,706 shares of common stock to satisfy Brendan E. Krueger’s tax withholding obligations upon vesting and settlement of the 2023 TSR PSUs. The number of shares withheld was based on the closing common stock price on March 16, 2026.

Does Brendan E. Krueger’s Form 4 for Antero Resources (AR) show open-market buying or selling?

The Form 4 reflects a derivative exercise and tax withholding, not open-market trades. Krueger exercised 5,132 performance share units into common shares, and 6,706 shares were withheld by the issuer for taxes, indicating a compensation-related, non-market transaction sequence.

How were the 2023 TSR PSUs for Antero Resources (AR) fourth tranche determined?

The compensation committee measured Antero Resources’ absolute total shareholder return from March 7, 2023 to March 7, 2026. It certified performance between target and maximum, causing the fourth tranche to be earned at 101.52% of target and representing 25.38% of the total target 2023 TSR PSU grant.