CF Industries EVP Sells $1M in Shares Under Planned Trading Program

Susan L. Menzel, EVP and Chief Administrative Officer of CF Industries Holdings (NYSE: CF), reported selling 10,000 shares of common stock at a price of $100.23 per share on June 20, 2025, resulting in a transaction value of approximately $1,002,300.

Rhea-AI Filing Summary

Susan L. Menzel, EVP and Chief Administrative Officer of CF Industries Holdings (NYSE: CF), reported selling 10,000 shares of common stock at a price of $100.23 per share on June 20, 2025, resulting in a transaction value of approximately $1,002,300.

Key details of the transaction:

• The sale was executed according to a Rule 10b5-1 trading plan established on March 13, 2025
• Following the transaction, Menzel retains direct ownership of 87,923 shares
• The transaction was reported via Form 4 on June 24, 2025

This insider sale represents a planned disposition of shares under a predetermined trading schedule, which helps avoid concerns about trading based on material non-public information. The transaction reduces Menzel's direct holdings but maintains a significant equity position in the company.

Insider Trade Summary

Net Seller: 10,000 shares

Net Sell 1 txn

Insider Menzel Susan L

Role EVP and Chief Admin. Officer

Sold 10,000 shs ($1.00M)

Type	Security	Shares	Price	Value
Sale	Common stock, par value $0.01 per share	10,000	$100.23	$1.00M

Holdings After Transaction: Common stock, par value $0.01 per share — 87,923 shares (Direct)

Footnotes (1)

1. F1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 13, 2025.

FAQ

How many CF Industries (CF) shares did EVP Susan Menzel sell on June 20, 2025?

EVP and Chief Administrative Officer Susan Menzel sold 10,000 shares of CF Industries common stock at a price of $100.23 per share on June 20, 2025.

How many CF shares does Susan Menzel own after her June 2025 transaction?

Following the reported transaction, Susan Menzel directly owns 87,923 shares of CF Industries common stock.

Was CF Industries EVP Menzel's stock sale part of a 10b5-1 trading plan?

Yes, the sales were executed pursuant to a Rule 10b5-1 trading plan that Susan Menzel adopted on March 13, 2025.

What is Susan Menzel's position at CF Industries?

Susan Menzel serves as Executive Vice President (EVP) and Chief Administrative Officer at CF Industries Holdings, Inc.

What was the total value of CF shares sold by Susan Menzel in the June 2025 transaction?

The total value of the transaction was $1,002,300, calculated from the sale of 10,000 shares at $100.23 per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/24/2025 - 04:01 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Menzel Susan L

(Last) (First) (Middle)

C/O CF INDUSTRIES HOLDINGS, INC.

2375 WATERVIEW DRIVE

(Street)

NORTHBROOK IL 60062

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CF Industries Holdings, Inc. [ CF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and Chief Admin. Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, par value $0.01 per share	06/20/2025		S(1)		10,000	D	$100.23	87,923	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 13, 2025.

	/s/ Michael P. McGrane, by power of attorney	06/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.