Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation and Cash Awards (Tables)

v3.21.1
Equity-Based Compensation and Cash Awards (Tables)
3 Months Ended
Mar. 31, 2021
Schedule of equity-based compensation expense

The Company’s equity-based compensation expense, by type of award, was as follows for the three months ended March 31, 2020 and 2021 (in thousands):

Three Months Ended March 31,

   

2020

2021

RSU awards

$

1,878

3,238

PSU awards

922

1,536

Antero Midstream Partners phantom unit awards (1)

160

518

Equity awards issued to directors

369

350

Total expense

$

3,329

5,642

(1) Antero Resources recognized compensation expense for equity awards granted under both the 2013 Plan and the AMP Plan because the awards under the AMP Plan are accounted for as if they are distributed by Antero Midstream Partners to Antero Resources. Antero Resources allocates a portion of equity-based compensation expense related to grants prior to the deconsolidation of Antero Midstream Partners on March 12, 2019 to Antero Midstream Partners based on its proportionate share of Antero Resources’ labor costs.
Summary of restricted stock unit awards activity

Weighted

Average

Number of

Grant Date

  

Shares

  

Fair Value

Total awarded and unvested—December 31, 2020

8,432,397

$

4.06

Granted

14,738

7.26

Vested

(1,906,286)

2.70

Forfeited

(83,359)

4.82

Total awarded and unvested—March 31, 2021

6,457,490

$

4.46

Summary of stock option activity

Weighted

Weighted

Average

Average

Remaining

Intrinsic

Stock

Exercise

Contractual

Value

  

Options

  

Price

  

Life

  

(in thousands)

Outstanding—December 31, 2020

432,461

$

50.64

4.1

$

Granted

Exercised

Forfeited

Expired

(5,000)

50.00

Outstanding—March 31, 2021

427,461

$

50.65

3.8

$

Vested—March 31, 2021

427,461

$

50.65

3.8

$

Exercisable —March 31, 2021

427,461

$

50.65

3.8

$

Summary of Performance Share Unit activity

Weighted

Number of

Average Grant

   

Units

   

Date Fair Value

Total awarded and unvested—December 31, 2020

2,547,798

$

12.66

Granted

Forfeited

(23,283)

9.26

Cancelled (unearned)

(133,334)

25.64

Total awarded and unvested—March 31, 2021

2,391,181

$

11.97

Antero Midstream Corporation  
Schedule of outstanding unvested restricted stock awards vesting schedule

Weighted

Average

Number of

Grant Date

   

Units

   

Fair Value

Total awarded and unvested—December 31, 2020

296,390

$

15.06

Granted

Vested

(10,122)

15.81

Forfeited

Total awarded and unvested—March 31, 2021

286,268

$

15.04