Quarterly report pursuant to Section 13 or 15(d)

Equity-Based Compensation (Tables)

v3.5.0.2
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