Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 55

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 55
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 The compensation and management development committee believes the majority of compensation should be composed of awards that are performance-based, with direct ties to the company and individual employee performance. The significant majority of each NEO’s target compensation is at-risk based on company performance. 2024 Target Total Direct Compensation Mix The following graphs illustrate the mix of total target direct compensation for our chief executive officer and for our other named executive officers for 2024: AIP: Annual Incentive Plan (annual bonus), cash settled LTIP: Long-Term Incentive Plan, denominated in equity 2024 CEO Target Total Compensation The compensation and management development committee approved our CEO’s base salary and target values of his annual incentive award and long-term incentive award for 2024. In consultation with its independent compensation consultant, the compensation and management development committee determined that our CEO’s base salary, target annual incentive approved for 2024 and target long-term incentive award to be granted in 2024 should be increased, compared with the targets that were in effect for 2023. These new amounts are in line with our Industry Reference Group (described in greater detail below) and the overall general industry survey data, further align pay delivery with long-term performance, and reflect trends in executive compensation generally. The CEO’s target annual incentive level of 150% of base salary for 2024 was unchanged from 2023, and the increase in the dollar value of his target annual incentive award is a result of the increase in base salary only. The committee believes the minimal changes to the CEO’s target total compensation over several years underscore that our executive compensation program is appropriately aligned with performance and that salaries and the target value for incentive awards are appropriately benchmarked.

| ​ | Pay Element                   | ​ | ​ |        2024 | ​ | ​ |        2023 | ​ | ​ | % Change | ​ |
| ​ | Salary                        | ​ | ​ | $ 1,400,000 | ​ | ​ | $ 1,350,000 | ​ | ​ | 4%       | ​ |
| ​ | Target Annual Incentive Level | ​ | ​ |        150% | ​ | ​ |        150% | ​ | ​ | 0%       | ​ |
| ​ | Target Annual Incentive ($)   | ​ | ​ | $ 2,100,000 | ​ | ​ | $ 2,025,000 | ​ | ​ | 4%       | ​ |
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