Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 47

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 47
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 | ​ | ​ | ​ | 53 | ​ | ​ |
| ​ | 2024 Target Total Compensation                             | ​ | ​ | ​ | ​ | 54 | ​ | ​ |
| ​ | Shareholder Engagement                                     | ​ | ​ | ​ | ​ | 55 | ​ | ​ |
| ​ | COMPENSATION DISCUSSION AND ANALYSIS: IN DETAIL            | ​ | ​ | ​ | ​ | 55 | ​ | ​ |
| ​ | Compensation Philosophy                                    | ​ | ​ | ​ | ​ | 55 | ​ | ​ |
| ​ | Key Elements of NEO Compensation Program                   | ​ | ​ | ​ | ​ | 56 | ​ | ​ |
| ​ | The Compensation Process                                   | ​ | ​ | ​ | ​ | 58 | ​ | ​ |
| ​ | Review and Approval of 2024 Cash Compensation              | ​ | ​ | ​ | ​ | 60 | ​ | ​ |
| ​ | Review and Approval of 2024 Long-Term Incentives           | ​ | ​ | ​ | ​ | 67 | ​ | ​ |
| ​ | 2025 Compensation Actions                                  | ​ | ​ | ​ | ​ | 74 | ​ | ​ |
| ​ | Change in Control, Severance, and Retirement Benefits      | ​ | ​ | ​ | ​ | 75 | ​ | ​ |
| ​ | Use of Industry Reference Group                            | ​ | ​ | ​ | ​ | 78 | ​ | ​ |
| ​ | Other Compensation Governance Practices and Considerations | ​ | ​ | ​ | ​ | 78 | ​ | ​ |

**47

TABLE OF CONTENTS OVERVIEW OF OUR BUSINESS AND STRATEGY Business Overview and Corporate Strategy At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network — the world’s largest — to enable low-carbon hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an extensive storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. Our best-in-class operational capability and disciplined capital and corporate stewardship — supported by a culture rooted in our core