Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Stock-Based Compensation

Schedule of Equity-based compensation expense

The Company’s equity‑based compensation expense is as follows for the year ended December 31, 2014 (in thousands):

	2013		2014
Profits interests awards (see note 1)	$	364,957		83,615
Restricted stock awards		219		25,624
Stock options		104		501
Antero Midstream Partners phantom and restricted unit awards		—		2,360
Common stock issued to directors in lieu of cash compensation		—		152
Total expense	$	365,280		112,252

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, 2013	45,093	$	54.27	$	2,861
Granted	1,970,587	$	64.75
Vested	(21,825)	$	57.06
Forfeited	(10,182)	$	58.55
Total awarded and unvested—December 31, 2014	1,983,673	$	64.71	$	80,497

Summary of stock option activity

				Weighted
		Weighted average		average remaining	Intrinsic
	Stock options	exercise price		contractual life	value (in thousands)
Outstanding at December 31, 2013	70,339	$	54.15	9.79	$	653
Options granted	10,682	$	52.44
Options exercised	—		—
Options cancelled	—		—
Options expired	—		—
Outstanding at December 31, 2014	81,021	$	53.92	8.92	$	—
Vested or expected to vest as of  December 31, 2014	81,021	$	53.92	8.92	$	—
Exercisable at December 31, 2014	25,339	$	54.15	8.78	$	—

Schedule of information regarding weighted average fair value of options granted and the assumptions used to determine fair value

	2013			2014
Dividend yield		—	%		—	%
Volatility		35	%		40	%
Risk-free interest rate		1.48	%		1.75	%
Expected life (years)		6.17			5.50
Weighted average fair value of options granted	$	20.20		$	20.55

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, 2013	—	$	—
Granted	2,381,440	$	29.00
Vested	—	$	—
Forfeited	—	$	—
Total awarded and unvested—December 31, 2014	2,381,440	$	29.00	$	65,490