Frost Bert A 4

What Happened
Bert A. Frost, Executive Vice President and Chief Commercial Officer of CF Industries (CF), had 9,871 shares of common stock issued upon the vesting of a 2023 performance restricted stock unit (PRSU) award. To cover tax withholding on the vesting, he surrendered 4,337 shares (disposed) at $99.54 per share, totaling $431,705. Separately, 5,102 shares were sold in an open-market transaction on March 2, 2026 at $105.99 per share, generating proceeds of $540,761. The award vesting is an acquisition (A) event; the share surrender (F) was for tax withholding and the sale (S) was an open-market disposition.

Key Details

• Transaction dates and prices:
  • Feb 27, 2026 — 9,871 shares acquired (PRSU vesting; reported as $0 acquisition) [F1].
  • Feb 27, 2026 — 4,337 shares surrendered for tax withholding at $99.54 (disposed) — $431,705 [F2].
  • Mar 2, 2026 — 5,102 shares sold in open market at $105.99 — $540,761; sale executed under a Rule 10b5-1 plan adopted Nov 12, 2025 [F3].
• Shares owned after transaction: not specified in the provided filing excerpt.
• Notable footnotes: F1 = PRSU award earned for the 2023 grant based on 3-year performance through Dec 31, 2025; F2 = share surrender to satisfy tax withholding; F3 = sale under an established 10b5-1 trading plan.
• Filing: Report filed with accession on Mar 3, 2026 covering the above transactions dated Feb 27 and Mar 2, 2026.

Context
This filing shows a common pattern when equity awards vest: issuance of shares tied to long-term performance (PRSU), share surrender to meet tax obligations, and an open-market sale under a pre-existing 10b5-1 plan. The PRSU vesting is an award (acquisition) event; the surrendered shares were for tax withholding (F) and the open-market sale (S) converted remaining shares to cash. These actions are routine for executives and do not by themselves indicate a change in company outlook.