Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2017

Equity-Based Compensation

Schedule of equity-based compensation expense

The Company’s equity-based compensation expense, by type of award, was as follows for the three and six months ended June 30, 2016 and 2017 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2017		2016		2017
Restricted stock unit awards	$	18,146		18,681		35,613		36,906
Stock options		641		616		1,301		1,236
Performance share unit awards		2,466		2,748		3,349		4,883
Antero Midstream phantom unit awards		4,013		4,443		8,001		8,486
Equity awards issued to directors		550		487		1,022		967
Total expense	$	25,816		26,975		49,286		52,478

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, 2016	5,353,447	$	31.77	$	126,609
Granted	757,694	$	22.23
Vested	(826,675)	$	44.32
Forfeited	(195,400)	$	23.96
Total awarded and unvested—June 30, 2017	5,089,066	$	28.56	$	109,975

Summary of stock option activity

				Weighted
		Weighted average		average remaining	Intrinsic
	Stock options	exercise price		contractual life	value (in thousands)
Outstanding at December 31, 2016	687,929	$	50.46	8.12	$	—
Granted	—	$	—
Exercised	—	$	—
Forfeited	(10,458)	$	50.00
Expired	—	$	—
Outstanding at June 30, 2017	677,471	$	50.47	7.61	$	—
Vested or expected to vest as of  June 30, 2017	677,471	$	50.47	7.61	$	—
Exercisable at June 30, 2017	364,855	$	50.70	7.52	$	—

Summary of Performance Stock Unit activity

	Number of units	Weighted average grant date fair value
Total awarded and unvested—December 31, 2016	785,301	$	29.75
Granted	558,021	$	26.21
Vested	(41,666)	$	27.38
Forfeited	(8,623)	$	29.86
Total awarded and unvested—June 30, 2017	1,293,033	$	28.30

Schedule of weighted average fair value assumptions used for PSUs granted

The following table present information regarding the weighted average fair value for PSUs granted during the six months ended June 30, 2017 and the assumptions used to determine the fair values.

	Six Months Ended June 30, 2017
Dividend yield		—	%
Volatility		42	%
Risk-free interest rate		1.40	%
Weighted average fair value of awards granted	$	26.21

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, 2016	1,331,961	$	27.31	$	41,131
Granted	340,773	$	32.45
Vested	(73,080)	$	21.34
Forfeited	(48,760)	$	28.85
Total awarded and unvested—June 30, 2017	1,550,894	$	28.68	$	51,459