Paul M. Rady
Also at Antero Resources Corp
About
Paul M. Rady is an experienced executive in the oil and gas industry, known for co-founding Antero Resources and playing a pivotal role since 2004.
He has been at the helm as Chairman and Chief Executive Officer from May 2004 and took on the role of President on April 30, 2021, demonstrating a consistent track record of leadership and strategic decision-making.
Before his tenure at Antero, he built a robust career with roles including CEO and Chairman of a predecessor company, President, CEO, and Chairman of Pennaco Energy, and various leadership positions at Barrett Resources, as well as beginning his career with Amoco. While detailed personal and educational backgrounds are not available, his professional journey highlights significant contributions to the industry.
$AR Performance Under Paul M. Rady
Past Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| Antero’s Predecessor Company | CEO and Chairman | 2002 – 2005 | Sold to XTO Energy, Inc. |
| Pennaco Energy | President, CEO, and Chairman | 1998 – 2001 | Role ended with sale to Marathon Oil in 2001 |
| Barrett Resources | Chief Geologist, Exploration Manager, EVP of Exploration, President, COO, Director, CEO | 1990 – 1998 | Held multiple leadership roles |
| Amoco | Geologist | ~Pre-1990 (10 years) | Worked on Rockies and Mid-Continent regions |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Salary | $1,065,350 | Annual | Fixed annual salary as disclosed in the documents. |
| All Other Compensation | $14,751 | Annual | Includes allocated company 401(k) match and other benefits (perquisites such as financial planning services); exact breakdown not provided. |
Performance Compensation
Performance Metrics
| Metric | Performance Score | Weight (%) | Additional Details |
|---|---|---|---|
| Meeting Budgeted D&C Capital | 130.1% | 32.5% | Part of Operational Strategy Execution; no explicit threshold provided. |
| Meeting Budgeted Production Volumes | 200% | 50.0% | Exceeds target levels; key performance indicator for production. |
| Net Debt/EBITDAX | 87.8% | 11.0% | Metric aimed at managing leverage; lower than 100% indicates underperformance relative to target. |
| Total Net Debt | 0% | 0% | No weighting applied. |
| Cash Costs | 138.9% | 13.9% | Indicates cost efficiency performance relative to targets. |
| ESG Qualitative Assessment | 200% | 30.0% | Qualitative review on Environmental, Social, and Governance factors. |
Summary of Performance-Based Payout
| Item | Detail | Additional Details |
|---|---|---|
| Preliminary Total Performance Score | 137.4% | Sum of weighted operational metrics and ESG assessment. |
| Discretionary Decrease | (17.4)% | Adjustment mandated by the Compensation Committee to align with shareholder interests. |
| Final Total Performance Score | 120% | Final score used to determine bonus payout. |
| Target Bonus | 130% of base salary | Based on annual cash incentive plan parameters. |
| Maximum Payout Opportunity | 200% of target bonus | Upper cap on bonus payout. |
Grant Date and Equity Awards
- Grant Date: March 7, 2023
- Grant Date Fair Value of Stock & Option Awards: $10,770,416
- Vesting Schedule: Not applicable, as the annual cash incentive plan is a cash-based bonus.
Note: All percentages and dollar amounts are as disclosed in the documents.