Was Michael N. Kennedy’s Antero Resources (AR) share sale made under a Rule 10b5-1 plan?

Yes. A footnote states the reported sales were effected under a Rule 10b5-1 trading plan adopted by Kennedy on November 6, 2025. Such pre-arranged plans automate trading based on preset instructions rather than day-to-day discretionary timing.

Antero Resources (AR) officer sells 185,826 shares under 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

ANTERO RESOURCES Corp director and officer Michael N. Kennedy reported open-market sales of a total of 185,826 shares of common stock on May 4, 2026, in two transactions at weighted average prices of $39.61 and $39.31 per share. The sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on November 6, 2025. Following these sales, Kennedy continues to hold more than 1.0 million shares of Antero common stock, including 172,117 shares subject to restricted stock unit awards and 70,747 performance share units that remain subject to service-based vesting.

Insider Trade Summary 10b5-1

Net Seller: 185,826 shares ($7,309,346)

Net Sell 2 txns

Insider Kennedy Michael N.

Role See Remarks

Sold 185,826 shs ($7.31M)

Type	Security	Shares	Price	Value
Sale	Common stock, par value $0.01 per share	170,740	$39.31	$6.71M
Sale	Common stock, par value $0.01 per share	15,086	$39.61	$598K

Holdings After Transaction: Common stock, par value $0.01 per share — 1,100,278 shares (Direct, null)

Footnotes (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 $38.57 to $39.56, 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 ranges set forth in footnotes (2) and (3). The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.57 to $39.75, inclusive. Includes 172,117 shares of common stock of the Issuer subject to restricted stock units awards and 70,747 performance share units in respect of which performance has been certified, in each case that remain subject to service-based vesting.

Key Figures

Shares sold total: 185,826 shares First transaction price: $39.61 per share Second transaction price: $39.31 per share +3 more

6 metrics

Shares sold total 185,826 shares Open-market sales reported on May 4, 2026

First transaction price $39.61 per share Weighted average sale price for 15,086 shares

Second transaction price $39.31 per share Weighted average sale price for 170,740 shares

Post-sale holdings (approx.) Over 1,000,000 shares Common stock beneficially owned after reported sales

Restricted stock units 172,117 shares RSU awards remaining subject to service-based vesting

Performance share units 70,747 units Performance share units with performance certified, service vesting remaining

Key Terms

Rule 10b5-1 trading plan, restricted stock units, performance share units, weighted average price

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.

restricted stock units financial

"Includes 172,117 shares of common stock of the Issuer subject to restricted stock units awards"

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.

weighted average price financial

"The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions"

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.

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 09:41 PM

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).

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 RESOURCES Corp [ AR ]

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common stock, par value $0.01 per share	05/04/2026		S⁽¹⁾		170,740	D	$39.31⁽²⁾	1,100,278⁽⁴⁾	D
Common stock, par value $0.01 per share	05/04/2026		S⁽¹⁾		15,086	D	$39.61⁽³⁾	1,085,192⁽⁴⁾	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 $38.57 to $39.56, 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 ranges set forth in footnotes (2) and (3).

3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.57 to $39.75, inclusive.

4. Includes 172,117 shares of common stock of the Issuer subject to restricted stock units awards and 70,747 performance share units in respect of which performance has been certified, in each case that remain subject to service-based vesting.

Remarks:

Chief Executive Officer & 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Michael N. Kennedy report at Antero Resources (AR)?

Michael N. Kennedy reported selling 185,826 shares of Antero Resources common stock in two open-market transactions. The trades occurred on May 4, 2026, at weighted average prices of $39.61 and $39.31 per share, according to his Form 4 insider filing.

At what prices were the Antero Resources (AR) shares sold in Kennedy’s Form 4?

Kennedy’s Form 4 shows two weighted average sale prices: $39.61 and $39.31 per share. Footnotes explain the shares were sold in multiple trades within price ranges from $38.57 to $39.75, with detailed breakdowns available on request from the company or the SEC.

How many Antero Resources (AR) shares does Kennedy still own after these sales?

After the reported sales, Kennedy continues to beneficially own more than 1.0 million Antero shares. His holdings include 172,117 shares subject to restricted stock unit awards and 70,747 performance share units that are still subject to service-based vesting conditions.

What equity awards are included in Kennedy’s Antero Resources (AR) holdings?

Kennedy’s reported holdings include 172,117 shares of Antero common stock underlying restricted stock unit awards and 70,747 performance share units. For both award types, the Form 4 notes they remain subject to service-based vesting, meaning the shares are earned over time.

How many total Antero Resources (AR) shares did Kennedy sell in this Form 4?

Kennedy’s transaction summary shows total sales of 185,826 Antero common shares across two open-market transactions. There were no reported purchases, exercises, gifts, or tax-withholding entries in this filing, resulting in a net-sell share direction for the period.