Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation (Tables)

v3.4.0.3
Equity-Based Compensation (Tables)
3 Months Ended
Mar. 31, 2016
Equity-Based Compensation  
Schedule of equity-based compensation expense

The Company’s equity-based compensation expense was as follows for the three months ended March 31, 2015 and 2016 (in thousands):

 

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

 

  

2015

  

2016

 

Profits interests awards

 

$

14,718

 

 

 —

 

Restricted stock unit awards

 

 

8,436

 

 

17,467

 

Performance share unit awards

 

 

 —

 

 

883

 

Stock options

 

 

129

 

 

660

 

Antero Midstream phantom and restricted unit awards

 

 

4,425

 

 

3,988

 

Equity awards issued to directors

 

 

75

 

 

472

 

Total expense

 

$

27,783

 

 

23,470

 

 

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

 

386,394

 

$

27.52

 

 

 

 

Vested

 

(13,956)

 

$

39.80

 

 

 

 

Forfeited

 

(9,434)

 

$

28.24

 

 

 

 

Total awarded and unvested—March 31, 2016

 

6,892,463

 

$

33.14

 

$

171,416

 

 

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

 

(1,000)

 

$

50.00

 

 

 

 

 

 

Expired

 

 —

 

 

 —

 

 

 

 

 

 

Outstanding at March 31, 2016

 

719,887

 

$

50.44

 

8.89

 

$

 —

 

Vested or expected to vest as of  March 31, 2016

 

719,887

 

$

50.44

 

8.89

 

$

 —

 

Exercisable at March 31, 2016

 

51,021

 

$

53.79

 

7.75

 

$

 —

 

 

Schedule of weighted average fair value assumptions used for stock options

 

 

 

 

 

 

 

  

Year ended December 31, 2015

 

 

Dividend yield

 

 

 —

%

 

Volatility

 

 

40

%

 

Risk-free interest rate

 

 

1.66

%

 

Expected life (years)

 

 

6.25

 

 

Weighted average fair value of options granted

 

$

14.74

 

 

 

Summary of Performance Stock Unit activity

 

 

 

 

 

 

 

 

 

Number of
units

 

Weighted
average
grant date
fair value

 

Total awarded and unvested—December 31, 2015

 

 —

 

$

 —

 

Granted

 

375,000

 

$

26.22

 

Vested

 

 —

 

$

 —

 

Forfeited

 

 —

 

$

 —

 

Total awarded and unvested—March 31, 2016

 

375,000

 

$

26.22

 

 

Schedule of weighted average fair value assumptions used for PSUs granted

 

 

 

 

 

 

 

  

Three months ended March 31, 2016

 

 

Dividend yield

 

 

 —

%

 

Volatility

 

 

46

%

 

Risk-free interest rate

 

 

1.16

%

 

Weighted average fair value of awards granted

 

$

26.22

 

 

 

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

 

 —

 

$

 —

 

 

 

 

Vested

 

 —

 

$

 —

 

 

 

 

Forfeited

 

(11,820)

 

$

29.00

 

 

 

 

Total awarded and unvested—March 31, 2016

 

1,656,012

 

$

28.97

 

$

36,614