Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation (Tables)

v3.3.0.814
Equity-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2015
Equity-Based Compensation  
Schedule of equity-based compensation expense

The Company’s equity-based compensation expense was as follows for the three and nine months ended September 30, 2014 and 2015 (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

  

2014

  

2015

  

2014

  

2015

 

Profits interests awards

 

$

15,688

 

 

8,140

 

 

68,456

 

 

35,221

 

Restricted stock awards

 

 

8,397

 

 

10,686

 

 

16,993

 

 

29,357

 

Stock options

 

 

125

 

 

743

 

 

372

 

 

1,514

 

Antero Midstream phantom and restricted unit awards

 

 

 —

 

 

4,271

 

 

 —

 

 

12,963

 

Common stock issued to directors in lieu of cash compensation

 

 

75

 

 

75

 

 

75

 

 

225

 

Total expense

 

$

24,285

 

 

23,915

 

 

85,896

 

 

79,280

 

 

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, 2014

 

1,983,673

 

$

64.71

 

$

80,497

 

Granted

 

881,617

 

$

40.82

 

 

 

 

Vested

 

(358,242)

 

$

64.28

 

 

 

 

Forfeited

 

(12,016)

 

$

40.05

 

 

 

 

Total awarded and unvested—September 30, 2015

 

2,495,032

 

$

56.38

 

$

52,795

 

 

Summary of stock option activity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Weighted
average

 

average
remaining

 

Intrinsic

 

 

    

Stock
options

    

exercise
price

    

contractual
life

    

value
(in thousands)

  

Outstanding at December 31, 2014

 

81,021

 

$

53.92

 

8.92

 

$

 —

 

Options granted

 

665,366

 

$

50.00

 

 

 

 

 

 

Options exercised

 

 —

 

 

 —

 

 

 

 

 

 

Options cancelled

 

(3,833)

 

$

50.00

 

 

 

 

 

 

Options expired

 

 —

 

 

 —

 

 

 

 

 

 

Outstanding at September 30, 2015

 

742,554

 

$

50.43

 

9.39

 

$

 —

 

Vested or expected to vest as of  September 30, 2015

 

742,554

 

$

50.43

 

9.39

 

$

 —

 

Exercisable at September 30, 2015

 

25,339

 

$

54.15

 

8.04

 

$

 —

 

 

Schedule of information regarding weighted average fair value of options granted and the assumptions used to determine fair value

 

 

 

 

 

 

 

 

 

 

 

 

2014

 

 

2015

 

 

Dividend yield

 

 

 —

%

 

 

 —

%

 

Volatility

 

 

40

%

 

 

40

%

 

Risk-free interest rate

 

 

1.75

%

 

 

1.66

%

 

Expected life (years)

 

 

5.50

 

 

 

6.25

 

 

Weighted average fair value of options granted

 

$

20.55

 

 

$

14.74

 

 

 

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, 2014

 

2,381,440

 

$

29.00

 

$

65,490

 

Granted

 

12,057

 

$

24.88

 

 

 

 

Vested

 

 —

 

$

 —

 

 

 

 

Forfeited

 

(51,860)

 

$

29.00

 

 

 

 

Total awarded and unvested—September 30, 2015

 

2,341,637

 

$

28.98

 

$

41,822