Antero Midstream (NYSE: AM) insider sells 100K shares under 10b5-1 plan

Rhea-AI Filing Summary

Antero Midstream Corp director and officer Michael N. Kennedy sold 100,000 shares of common stock in an open-market transaction at a weighted average price of $21.92 per share on May 4, 2026. The shares were sold under a Rule 10b5-1 trading plan adopted on November 6, 2025, meaning the trades were pre-arranged rather than timed discretionarily. Following this sale, Kennedy directly holds 1,500,594 shares of Antero Midstream common stock, which includes 472,354 shares subject to previously granted restricted stock units that are still subject to vesting conditions.

Insider Trade Summary 10b5-1

Net Seller: 100,000 shares ($2,192,000)

Net Sell 1 txn

Insider Kennedy Michael N.

Role See Remarks

Sold 100,000 shs ($2.19M)

Type	Security	Shares	Price	Value
Sale	Common stock, par value $0.01 per share	100,000	$21.92	$2.19M

Holdings After Transaction: Common stock, par value $0.01 per share — 1,500,594 shares (Direct, null)

Footnotes (1)

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 6, 2025. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.57 to $22.06, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2). Includes 472,354 shares of Common Stock subject to previously granted restricted stock units that remain subject to vesting.

Key Figures

Shares sold: 100,000 shares Average sale price: $21.92 per share Price range: $21.57–$22.06 per share +3 more

6 metrics

Shares sold 100,000 shares Open-market sale on May 4, 2026

Average sale price $21.92 per share Weighted average price for the reported transactions

Price range $21.57–$22.06 per share Range of prices across multiple sale transactions

Shares held after sale 1,500,594 shares Direct ownership following the reported transaction

RSU-related shares 472,354 shares Common stock underlying restricted stock units still subject to vesting

Net share direction 100,000 shares net sold Net-sell direction in the transaction summary

Key Terms

Rule 10b5-1 trading plan, weighted average price, restricted stock units, open-market sale

4 terms

Rule 10b5-1 trading plan regulatory

"The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted..."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

restricted stock units financial

"Includes 472,354 shares of Common Stock subject to previously granted restricted stock units that remain subject to vesting."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kennedy Michael N.

(Last) (First) (Middle)

1615 WYNKOOP STREET

(Street)

DENVER COLORADO 80202

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Antero Midstream Corp [ AM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/04/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, par value $0.01 per share	05/04/2026		S(1)		100,000	D	$21.92(2)	1,500,594(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on November 6, 2025.

2. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.57 to $22.06, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2).

3. Includes 472,354 shares of Common Stock subject to previously granted restricted stock units that remain subject to vesting.

Remarks:

Chief Executive Officer and President

	/s/ Yvette K. Schultz, as attorney-in-fact for Michael N. Kennedy	05/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Michael N. Kennedy report for Antero Midstream (AM)?

Michael N. Kennedy reported selling 100,000 shares of Antero Midstream common stock in an open-market transaction at a weighted average price of $21.92 per share. This sale was disclosed on a Form 4 insider trading report filed with the SEC.

At what prices were the Antero Midstream (AM) shares sold by Michael N. Kennedy?

The reported sale used a weighted average price of $21.92 per share. According to the filing, individual trades occurred in multiple transactions at prices ranging from $21.57 to $22.06 per share, inclusive, across the executed orders.

Was the Antero Midstream (AM) insider sale by Michael N. Kennedy under a 10b5-1 plan?

Yes. The filing states the sales were effected under a Rule 10b5-1 trading plan adopted by Michael N. Kennedy on November 6, 2025. Such plans pre-schedule trades, reducing the significance of trade timing as a discretionary signal.

How many Antero Midstream (AM) shares does Michael N. Kennedy hold after this sale?

After the reported sale, Michael N. Kennedy directly holds 1,500,594 shares of Antero Midstream common stock. This total includes 472,354 shares underlying previously granted restricted stock units that remain subject to future vesting requirements.

What role does Michael N. Kennedy hold at Antero Midstream (AM)?

Michael N. Kennedy is identified in the filing as both a director and an officer of Antero Midstream Corp, with the specific officer title detailed in the remarks section. His transactions are therefore reported as those of a senior company insider.

What type of security did Michael N. Kennedy sell in Antero Midstream (AM)?

He sold common stock of Antero Midstream Corp, with a par value of $0.01 per share. The transaction involved non-derivative securities, meaning it related directly to common shares rather than options or other derivative instruments.