Equity-Based Compensation (Tables)
|
6 Months Ended |
Jun. 30, 2016 |
|---|
| Equity-Based Compensation |
|
| Schedule of equity-based compensation expense |
The Company’s equity-based compensation expense was as follows for the three and six months ended June 30, 2015 and 2016 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended June 30,
|
|
Six months ended June 30,
|
|
|
|
|
2015
|
|
2016
|
|
2015
|
|
2016
|
|
|
Profits interests awards
|
|
$
|
12,363
|
|
|
—
|
|
$
|
27,081
|
|
|
—
|
|
|
Restricted stock unit awards
|
|
|
10,235
|
|
|
18,146
|
|
|
18,671
|
|
|
35,613
|
|
|
Stock options
|
|
|
642
|
|
|
641
|
|
|
771
|
|
|
1,301
|
|
|
Performance share unit awards
|
|
|
—
|
|
|
2,466
|
|
|
—
|
|
|
3,349
|
|
|
Antero Midstream phantom and restricted unit awards
|
|
|
4,267
|
|
|
4,013
|
|
|
8,692
|
|
|
8,001
|
|
|
Equity awards issued to directors
|
|
|
75
|
|
|
550
|
|
|
150
|
|
|
1,022
|
|
|
Total expense
|
|
$
|
27,582
|
|
|
25,816
|
|
$
|
55,365
|
|
|
49,286
|
|
|
| Summary of restricted stock and restricted stock unit awards activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
average
|
|
Aggregate
|
|
|
|
|
Number of
shares
|
|
grant date
fair value
|
|
intrinsic value
(in thousands)
|
|
|
Total awarded and unvested—December 31, 2015
|
|
6,529,459
|
|
$
|
33.48
|
|
$
|
142,342
|
|
|
Granted
|
|
1,217,474
|
|
$
|
27.06
|
|
|
|
|
|
Vested
|
|
(527,795)
|
|
$
|
55.48
|
|
|
|
|
|
Forfeited
|
|
(217,935)
|
|
$
|
27.68
|
|
|
|
|
|
Total awarded and unvested—June 30, 2016
|
|
7,001,203
|
|
$
|
30.88
|
|
$
|
181,891
|
|
|
| Summary of stock option activity |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
|
|
|
|
|
|
|
|
|
Weighted
average
|
|
average
remaining
|
|
Intrinsic
|
|
|
|
|
Stock
options
|
|
exercise
price
|
|
contractual
life
|
|
value
(in thousands)
|
|
|
Outstanding at December 31, 2015
|
|
720,887
|
|
$
|
50.44
|
|
9.14
|
|
$
|
—
|
|
|
Granted
|
|
—
|
|
$
|
—
|
|
|
|
|
|
|
|
Exercised
|
|
—
|
|
|
—
|
|
|
|
|
|
|
|
Forfeited
|
|
(21,250)
|
|
$
|
50.00
|
|
|
|
|
|
|
|
Expired
|
|
—
|
|
|
—
|
|
|
|
|
|
|
|
Outstanding at June 30, 2016
|
|
699,637
|
|
$
|
50.45
|
|
8.55
|
|
$
|
—
|
|
|
Vested or expected to vest as of June 30, 2016
|
|
699,637
|
|
$
|
50.45
|
|
8.55
|
|
$
|
—
|
|
|
Exercisable at June 30, 2016
|
|
210,715
|
|
$
|
50.92
|
|
8.20
|
|
$
|
—
|
|
|
| Summary of Performance Stock Unit activity |
|
|
|
|
|
|
|
|
|
|
|
Number of
units
|
|
Weighted
average
grant date
fair value
|
|
|
Total awarded and unvested—December 31, 2015
|
|
—
|
|
$
|
—
|
|
|
Granted
|
|
790,890
|
|
$
|
29.77
|
|
|
Vested
|
|
—
|
|
$
|
—
|
|
|
Forfeited
|
|
(5,589)
|
|
$
|
32.97
|
|
|
Total awarded and unvested—June 30, 2016
|
|
785,301
|
|
$
|
29.75
|
|
|
| Schedule of weighted average fair value assumptions used for PSUs granted |
|
|
|
|
|
|
|
|
|
|
Six months ended June 30, 2016
|
|
|
|
Dividend yield
|
|
|
—
|
%
|
|
|
Volatility
|
|
|
45
|
%
|
|
|
Risk-free interest rate
|
|
|
1.01
|
%
|
|
|
Weighted average fair value of awards granted
|
|
$
|
29.77
|
|
|
|
| Schedule of outstanding unvested restricted stock awards vesting schedule |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
units
|
|
Weighted
average
grant date
fair value
|
|
Aggregate
intrinsic value
(in thousands)
|
|
|
Total awarded and unvested—December 31, 2015
|
|
1,667,832
|
|
$
|
28.97
|
|
$
|
38,060
|
|
|
Granted
|
|
290,254
|
|
$
|
21.24
|
|
|
|
|
|
Vested
|
|
(6,354)
|
|
$
|
24.98
|
|
|
|
|
|
Forfeited
|
|
(62,728)
|
|
$
|
28.42
|
|
|
|
|
|
Total awarded and unvested—June 30, 2016
|
|
1,889,004
|
|
$
|
27.81
|
|
$
|
52,647
|
|
|