Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 69

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 69
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 in December 2024, the compensation and management development committee approved base salaries and target annual incentive awards for our NEOs for calendar year 2024. In setting compensation levels for 2024, the compensation and management development committee considered a competitive market assessment performed by Exequity and the goals and objectives for our executive compensation plans. These new amounts are in line with our Industry Reference Group (described in greater detail below) and the overall general industry survey data. Mr. Will’s base salary increased by 4% from 2023 to 2024 and his target annual incentive level remained the same as his 2023 level. For Mr. Bohn, Mr. Frost and Ms. Menzel, who were each NEOs in both 2023 and 2024, their average base salaries increased by 4-7% in connection with the annual base salary review. The target annual incentive levels for Mr. Bohn and Mr. Frost, which were last increased in 2019 and 2016, respectively, increased by 6%. Ms. Menzel’s target annual incentive level remained unchanged at a level set in 2021. 66

TABLE OF CONTENTS

The table below shows the base salaries and target annual incentive levels, as a percentage of base salary, for our NEOs for 2024 and 2023 (if applicable):

| ​ | ​                      | ​ | ​ | Base Salary |   |   |            |   |   |          | ​ | ​ | ​ | TargetAnnual Incentive Level |   |   |      |   |   |          | ​ |
| ​ | Name                   | ​ | ​ |        2024 | ​ | ​ |       2023 | ​ | ​ | Increase | ​ | ​ | ​ |                         2024 | ​ | ​ | 2023 | ​ | ​ | Increase | ​ |
| ​ | W. Anthony Will        | ​ | ​ |  $1,400,000 | ​ | ​ | $1,350,000 | ​ | ​ | 4%       | ​ | ​ | ​ |                         150% | ​ | ​ | 150% | ​ | ​ | 0%       | ​ |
| ​ | Gregory D. Cameron(1)  | ​ | ​ |    $750,000 | ​ | ​ |          — | ​ | ​ | —        | ​ | ​ | ​ |                          90% | ​ | ​ |    — |