Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 9

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 9
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 | ​ | Performance metrics that align executive interests with interests of shareholders                                 | ​ | ​                                                      |     | ​ | ​ | Executive officers are prohibited from hedging or pledging our stock                       | ​ | ​ |     |   |   |
| ​ |   | ​                                        | ​ | A majority of compensation for CEO and other executive officers is performance-based, at risk, and paid in equity | ​ | ​                                                      |     | ​ | ​ | No new excise tax gross-ups after 2011 (No NEOs, other than Mr. Frost, have such gross-up) | ​ | ​ |     |   |   |

* For the definitions of Adjusted EBITDA and RONA, see “Compensation Discussion and Analysis — Compensation Discussion and Analysis: In Detail — Key Elements of NEO Compensation Program — Our Metrics Defined.” Adjusted EBITDA as defined under our annual incentive plan may differ from the company’s adjusted EBITDA as reported due to further adjustments permitted under the terms of the annual incentive plan and approved by the compensation and management development committee.

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TABLE OF CONTENTS

2024 Target Total Compensation 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 the target compensation of each named executive officer (“NEO”) is at-risk based on company performance. 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 Annual Incentive Plan Performance Metrics

| ​ | ​ | Financial Metric     | ​ | ​ | ​ | Clean EnergyMetric        | ​ | ​ | ​ | SustainabilityInitiative Metric                          | ​ | ​ | ​ | Process Safety Metric            |   |   |   |                                | ​ | ​ |
| ​ | ​ | AdjustedEBITDA(1)    | ​ | ​ | ​ | Clean EnergyMilestones(2) | ​ | ​ | ​ | Process,Technologyand ReportingCapabilitiesMilestones(3) | ​ | ​ | ​ | BehavioralSafetyGateThreshold(4) | ​ | ​ | ​ | Timely CompletionPercentage(5) | ​ | ​ |
| ​ | ​ | $2.28 Billion        | ​ | ​ | ​ | Achieved 4 milestones