Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 63

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 63
---
 unique capabilities to accelerate the world’s transition to clean energy and reflects the significant steps we are taking to support a global hydrogen and clean fuel economy through the production of low-carbon ammonia. It also supports our long-term goal of reducing carbon emissions across our global network to achieve net-zero carbon emissions by 2050. The Sustainability Metric, with its weighting remaining at 10% of the short-term incentive program’s payout, builds on our enterprise-wide project that began in 2022 and continues to emphasize the importance of investing in and enhancing our process technology and reporting capabilities to facilitate our long-term growth. The Process Safety Metric, which was introduced as a performance metric in 2021, retains our “behavioral safety gate,” which has been an element of our annual incentive performance metrics since 2018. The Process Safety Metric reflects our continued focus on safely operating our facilities and our constant efforts to drive workplace safety. The Clean Energy Metric, the Sustainability Metric and the Process Safety Metric were selected by the compensation and management development committee for 2024 because of their alignment with the strategic imperatives of the company and our corporate values of safety and our “Do It Right” culture and their impact on the long-term growth and sustainability of the company. Selection of Performance Levels for the Financial Performance Metric for 2024 The compensation and management development committee established the following performance levels and corresponding percentages of target opportunity earned with respect to the Financial Metric for 2024:

| ​ | Performance Level | ​ | ​ | Financial MetricAdjusted EBITDA Achieved | ​ | ​ | Percentage ofFinancial MetricTarget Award Earned | ​ |
| ​ | Below Threshold   | ​ | ​ | Less than $1.75 billion                  | ​ | ​ | 0%                                               | ​ |
| ​ | Threshold         | ​ | ​ | $1.75 billion                            | ​ | ​ | 50%                                              | ​ |
| ​ | Target            | ​ | ​ | $2.75 billion                            | ​ | ​ | 100%                                             | ​ |
| ​ | Maximum           | ​ | ​ | $3.75 billion                            | ​ | ​ | 200%                                             | ​ |

Straight line interpolation is used to determine the achievement percentage for the Financial Metric between threshold and target and between target and maximum performance levels. If the Threshold Performance Level is not met, there is no payout under the Financial Metric.

62

TABLE OF CONTENTS

Selection of Performance Levels for the Clean Energy Metric for 2024 The Clean Energy Metric reflects our commitment to