Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 54

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 54
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, 2017, (ii) the cumulative investment in each of Agrium and Potash Corp, assuming dividend reinvestments up to December 31, 2017, converted into shares of Nutrien on January 2, 2018 using the exchange ratio in the merger of equals transaction consummated on that date, and (iii) the stock price for Nutrien from January 2, 2018 through December 31, 2024. 52

TABLE OF CONTENTS

COMPENSATION PROGRAM OVERVIEW Compensation Program Highlights Our executive compensation practices are overseen and administered by the compensation and management development committee, which is composed exclusively of independent directors. The committee is responsible for designing an executive compensation program — including approving any changes to it — that effectively incentivizes our executives to create long-term value for our shareholders.

| ​ | ​                                        | ​                                                 | ​ | ​ | ​                                                                                                                                                                                                                                      | Summary                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |   |   |                     |                                                                                                                                                                                                                 | ​ | ​ | ​ | MoreDetails | ​ | ​ |
| ​ | ​                                        | CompensationPhilosophy                            | ​ | ​ | ​                                                                                                                                                                                                                                      | Our compensation philosophy seeks to align the interests of our employees and our shareholders through focusing on the total compensation (base salary, short-term incentives, long-term incentives, and benefits) of our employees, including our executive officers. We seek to benefit from this strategy by attracting key talent, retaining strong performers, increasing productivity, and maximizing operational and financial results, while also implementing compensation programs that are cost effective, market competitive, and sustainable across business cycles. |   |   |                     |                                                                                                                                                                                                                 | ​ | ​ | ​ | P. 55       | ​ | ​ |
| ​ | ​                                        | Key Elements ofCompensation Program               | ​ | ​ | ​                                                                                                                                                                                                                                      | Salary                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            | ​ | ​ | ​                   | Paid in line with individual performance and contribution to company goals and aligned to competitive market data                                                                                               | ​ | ​ | ​ | P. 56; 60   | ​ | ​ |
| ​ | Annual Cash Incentives                   | ​                                                 | ​ | ​ | The amount of the actual incentive earned is determined based on our level of achievement of four performance metrics:                                                                                                                 
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 60%: level of achievement ofAdjusted EBITDA* (Financial Metric)                                                                                                                                                                        
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 20%: level of achievement of the completion