Form 4: Antero Midstream Corp Executive Brendan E. Krueger Reports Changes in Beneficial Ownership

Brendan E. Krueger, Chief Financial Officer of Antero Midstream Corp, reports acquisition of shares through restricted stock units and disposition of shares to cover tax obligations.

Summary

• On March 7, 2025, Brendan E. Krueger, Chief Financial Officer of Antero Midstream Corp, reported changes in beneficial ownership of the company's common stock.
• Krueger acquired 120,856 shares of common stock through the grant of restricted stock units (RSUs) under the company's Long Term Incentive Plan.
• These RSUs vest in three equal installments on the anniversaries of March 7, 2025, contingent upon continued employment.
• Additionally, 38,827 shares were disposed of to satisfy tax withholding obligations related to the vesting and settlement of RSUs.
• The shares were withheld by the Issuer based on a price of $16.46 per share.
• Following these transactions, Krueger directly owns 603,959 shares of common stock, including 306,478 shares subject to unvested RSUs.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares through RSUs is a positive sign, while the disposal for tax obligations is a normal occurrence. The overall impact is likely neutral.

Positives

• The grant of RSUs to a key executive like the CFO can be seen as a positive sign, aligning their interests with the company's long-term performance.

Negatives

• The disposal of shares to cover tax obligations, while a normal occurrence, slightly reduces the executive's direct holdings.

Risks

• The vesting of RSUs is contingent upon continued employment, creating a potential risk if the executive were to leave the company before the vesting dates.

Future Outlook

The RSUs vest over three years, suggesting a commitment to the company's future by the executive.

Industry Context

Executive compensation through equity grants is a common practice in the energy industry to incentivize performance and align management interests with shareholders.

Comparison to Industry Standards

• Equity grants are a standard component of executive compensation packages across the midstream energy sector.
• Companies like Kinder Morgan, Enbridge, and Williams Companies also utilize RSUs and stock options to incentivize their executives.
• The vesting schedules and grant sizes are typically benchmarked against peer companies to ensure competitiveness.

Stakeholder Impact

• The transactions have a minor impact on shareholders, as the overall number of outstanding shares remains largely unchanged.
• Employees may view the equity grants as a positive sign of the company's commitment to its employees.

Key Dates