Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 56

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 56
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 | Target Long-Term Incentive    | ​ | ​ | $ 7,500,000 | ​ | ​ | $ 7,000,000 | ​ | ​ | 7%       | ​ |
| ​ | CEO Total Target Compensation | ​ | ​ | $11,000,000 | ​ | ​ | $10,375,000 | ​ | ​ | 6%       | ​ |

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TABLE OF CONTENTS Shareholder Engagement The Board recognizes the importance of executive compensation decisions to our shareholders. The annual say-on-pay advisory vote provides our shareholders with the opportunity to: • Evaluate our executive compensation philosophy, policies and practices; • Evaluate the alignment of the compensation of our NEOs with our results; and • Cast an advisory vote to approve the compensation of our NEOs. At the 2024 annual meeting of shareholders, the say-on-pay advisory vote received majority support, with approximately 95% of the votes cast in favor of our executive compensation policies, practices and determinations. The Board encourages an open and constructive dialogue with shareholders on compensation to ensure alignment on policies and practices. We invite all shareholders to provide feedback to us on our compensation programs. As discussed in “Proposal 1: Election of Directors — Corporate Governance Shareholder Engagement” and the Board’s statement in opposition to “Proposal 4: Shareholder Proposal Regarding Shareholder Approval Requirement for Excessive Golden Parachutes,” we extended engagement requests to shareholders representing approximately 70% of outstanding shares during both our spring and fall outreach campaigns. Shareholders who provided feedback on our compensation programs generally reported that executive compensation at CF Industries was reasonable and well-aligned to performance. No consistent or prevalent concerns were raised from our engagements. We will continue to regularly review (along with our outside compensation consultant) our executive compensation programs to ensure alignment with our compensation philosophy, and we are committed to continuing our dialogue with shareholders so that we can be proactive in responding to emerging industry trends and be responsive to shareholder concerns. COMPENSATION DISCUSSION AND ANALYSIS: IN DETAIL Compensation Philosophy Our compensation and management development committee has adopted a compensation philosophy that 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 NEOs. 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