CF Industries (NYSE: CF) ex-CEO sells 57,364 shares, clears phantom stock

Rhea-AI Filing Summary

CF Industries Holdings, Inc. director and former President & CEO Will W Anthony reported an open-market sale of 57,364 shares of common stock on March 5, 2026 at a weighted-average price of $109.3537 per share, leaving him with 136,646 shares directly owned.

On the same date, he also reported a discretionary transaction involving 29,504.137 units of phantom stock at $110.78 per unit, reducing his phantom stock balance to zero. Each phantom stock unit is economically equivalent to one common share and is payable in cash following termination of employment, with transfer permitted into an alternative investment account under the plan.

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

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

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^*

Will W Anthony

(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)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Former President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

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	03/05/2026		S		57,364	D	$109.3537(1)	136,646	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
Phantom Stock	(2)	03/05/2026		I			29,504.137	(2)	(2)	Common stock, par value $0.01 per share	29,504.137	$110.78	0	D

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $109.0000 to $109.5900, inclusive. The reporting person undertakes to provide to CF Industries Holdings, Inc., any security holder of CF Industries Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within that range.

2. Each share of phantom stock is the economic equivalent of one share of CF Industries Holdings, Inc. common stock. Shares of phantom stock are payable in cash following the reporting person's termination of employment with CF Industries Holdings, Inc. and may be transferred by the reporting person into an alternative investment account in accordance with the terms of the plan.

	/s/ Michael P. McGrane, by power of attorney	03/09/2026
	** 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.

FAQ

What insider transaction did Will W Anthony report at CF (CF) on March 5, 2026?

Will W Anthony reported selling 57,364 CF Industries common shares on March 5, 2026 at a weighted-average price of $109.3537 per share. After this open-market sale, his directly held common stock position stood at 136,646 shares.

What price range applied to Will W Anthony’s CF (CF) share sale?

The reported weighted-average sale price was $109.3537, with individual trades executed between $109.0000 and $109.5900 per share. The reporting person has undertaken to provide full trade-by-trade details within that range upon request to specified parties.

How many CF Industries (CF) shares does Will W Anthony own after this Form 4?

Following the reported March 5, 2026 open-market sale of 57,364 common shares, Will W Anthony directly owns 136,646 shares of CF Industries common stock. This figure reflects the position reported as directly held after the transaction.

What happened to Will W Anthony’s phantom stock units at CF (CF)?

He reported a discretionary transaction involving 29,504.137 phantom stock units at $110.78 per unit, leaving a post-transaction phantom stock balance of zero. Each phantom stock unit is economically equivalent to one CF common share and is payable in cash after employment ends.

How does CF Industries (CF) define phantom stock in this insider filing?

Each phantom stock unit is described as economically equivalent to one CF Industries common share and payable in cash after the reporting person’s employment terminates. Under the plan, units may also be moved into an alternative investment account, according to the stated terms.