CF Industries Holdings, Inc. (CF, Financial) has announced a significant retention award for Susan L. Menzel, the company's Executive Vice President and Chief Administrative Officer. On January 2, 2025, the Compensation and Management Development Committee of the Board of Directors approved the award under the company's 2022 Equity and Incentive Plan.
The retention award consists of 28,637 restricted stock units (RSUs), which are set to vest in full on January 2, 2028, contingent upon Ms. Menzel's continued employment or qualifying service with the company. The award also includes provisions for accelerated vesting in the event of a Change in Control, or in the unfortunate circumstances of Ms. Menzel's death or disability, as defined in the plan and award agreement.
Notably, this award deviates from the company's standard form of award agreement by not providing for pro-rata vesting should Ms. Menzel retire before the final vesting date. This strategic move underscores CF Industries Holdings, Inc.'s commitment to retaining key leadership talent as part of its long-term growth and stability strategy.
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