Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 62

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 62
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 with the opportunity to earn additional annual compensation beyond base salary. The role of short-term incentives is to reward and encourage the achievement of annual financial results and other specified corporate performance goals. In the aggregate our short-term incentive awards are targeted at the median of the peer group companies in our Industry Reference Group and the overall general industry market data from the outside compensation consultant’s market assessment. Additional information regarding these goals and objectives is set forth above under the headings “Compensation Philosophy” and “Key Elements of NEO Compensation Program.” Selection of Primary and Secondary Performance Metrics for 2024 Based on its review and the other factors discussed above, the compensation and management development committee determined that the annual incentive awards to our NEOs for 2024 would be based upon our level of achievement of the following four performance metrics: • 60% of each executive’s annual incentive payment opportunity was based upon our level of achievement of Adjusted EBITDA for 2024 (the “Financial Metric”); • 20% of each executive’s annual incentive payment opportunity was based upon our level of achievement of specified clean energy strategy goals (the “Clean Energy Metric”); 61

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• 10% of each executive’s annual incentive payment opportunity was based upon our level of achievement of the completion of specified sustainability goals related to key initiatives that continue to advance efforts to streamline, automate and integrate process technology and reporting capabilities (the “Sustainability Metric”); and • 10% of each executive’s annual incentive payment opportunity was based upon our level of achievement of the completion of safety critical equipment inspections on schedule and timely management of changes (MOCs), subject to first achieving a gating level of behavioral safety practices goals (the “Process Safety Metric”). Adjusted EBITDA — the primary metric we use and that is used by our investors to evaluate our profitability — was retained as our primary metric. Our Adjusted EBITDA or Financial Metric, which has been the cornerstone of our annual incentive performance metrics since 2016 at a weighting of 50% to 80%, was weighted at 60% for a second year. This weighting permits the use of both the Clean Energy Metric and Sustainability Metric, which were both continued in 2024, with weightings that reflect the extensive resources and employee effort focused on these objectives. The compensation and management development committee determined that it was appropriate to continue to have 20% of the short-term incentive program’s payout be based on achievement of a Clean Energy Metric because it aligns with our strategy to leverage our