Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 35

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 35
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 should be competitive and should encourage increased ownership of CF Industries stock through the payment of a portion of director compensation in shares of our stock. In order to further align the interests of our directors with the interests of our shareholders, our non-employee directors are required to achieve and maintain stock ownership with a market value equal to five times their annual cash retainer. Our compensation and management development committee is responsible for reviewing director compensation and making recommendations to the Board. The committee reviews the compensation of our non-employee directors annually. In connection with its annual review of the compensation of our non-employee directors, the committee also authorizes its compensation consultant, Exequity LLP (“Exequity”), to work with our human resources department to compare the compensation of our non-employee directors with compensation paid to comparable directors at peer companies and the overall market based on the then most recent National Association of Corporate Directors survey on director compensation. See “Compensation Discussion and Analysis — Compensation Discussion and Analysis: In Detail — Other Compensation Governance Practices and Considerations — Role of the Compensation Consultant.” Based on this review, in April 2024, the Board, upon the recommendation of the compensation and management development committee, decided to maintain at the 2023 level (i) the amount of the annual cash retainers paid to all non-employee directors and the chair of the Board, (ii) the amount of the annual cash retainers paid to the chairs of the Board committees and (iii) the value of the annual restricted stock grant to non-employee directors and to the chair of the Board, in each case in the amounts set forth below. Annual Cash Retainer All non-employee directors are entitled to an annual cash retainer of $115,000 ($195,000 in the case of the chair of the Board), payable quarterly. We do not pay meeting fees to our directors. Each new non-employee director will receive, upon joining the Board between annual meetings of shareholders, a full quarterly cash retainer, payable in advance (but without duplication), and will thereafter receive quarterly cash retainer payments along with the other non-employee directors. The chairs of the Board committees receive additional annual cash retainers in the following amounts, payable quarterly:

| ​ | Audit committee chair                                      | ​ | ​ | $22,500 | ​ |
| ​ | Compensation and management development committee chair    | ​ | ​ | $17,500 | ​ |
| ​ | Corporate governance and nominating committee chair        | ​ | ​ | $17,500 | ​ |
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