Equity-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

Equity-Based Compensation

Schedule of equity-based compensation expense

The Company’s equity‑based compensation expense is as follows for the years ended December 31, 2013, 2014, and 2015 (in thousands):

	Year ended December 31,
	2013		2014		2015
Profits interests awards	$	364,957		83,615		37,620
Restricted stock awards		219		25,624		40,663
Stock options		104		501		2,155
Antero Midstream phantom and restricted unit awards		—		2,360		17,126
Common stock issued to directors in lieu of cash compensation		—		152		313
Total expense	$	365,280		112,252		97,877

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, 2014	1,983,673	$	64.71	$	80,497
Granted	5,441,449	$	24.04
Vested	(377,630)	$	63.39
Forfeited	(518,033)	$	31.37
Total awarded and unvested—December 31, 2015	6,529,459	$	33.48	$	142,342

Summary of stock option activity

				Weighted
		Weighted average		average remaining	Intrinsic
	Stock options	exercise price		contractual life	value (in thousands)
Outstanding at December 31, 2014	81,021	$	53.92	8.92	$	—
Granted	665,366	$	50.00
Exercised	—		—
Forfeited	(25,500)	$	50.00
Expired	—		—
Outstanding at December 31, 2015	720,887	$	50.44	9.14	$	—
Vested or expected to vest as of  December 31, 2015	720,887	$	50.44	9.14	$	—
Exercisable at December 31, 2015	51,021	$	53.79	8.00	$	—

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

	Year ended December 31,
	2013			2014			2015
Dividend yield		—	%		—	%		—	%
Volatility		35	%		40	%		40	%
Risk-free interest rate		1.48	%		1.75	%		1.66	%
Expected life (years)		6.17			5.50			6.25
Weighted average fair value of options granted	$	20.20		$	20.55		$	14.74

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, 2014	2,381,440	$	29.00	$	65,490
Granted	12,057	$	24.88
Vested	(595,595)	$	29.00
Forfeited	(130,070)	$	29.00
Total awarded and unvested—December 31, 2015	1,667,832	$	28.97	$	38,060