CF Industries insider activity
What the executives and directors of CF Industries actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$72M
net open-market flow, 12 m
0 open-market buys, 12 m
3.3%
of sale value on 10b5-1 plans, 12 m
2,033 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling.
The 117 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| May 26, 2026 | Scribner Andrew | 6,464 |
| Apr 28, 2026 | EAVES JOHN W | 1,390 |
| Apr 28, 2026 | ARZBAECHER ROBERT C | 1,390 |
| Apr 28, 2026 | TOELLE MICHAEL | 1,390 |
| Apr 28, 2026 | Wagler Theresa E | 1,390 |
| Apr 28, 2026 | White Celso L. | 1,390 |
| Apr 28, 2026 | Noonan Anne P | 2,208 |
| Apr 28, 2026 | Ellerbusch Susan A | 1,390 |
| Apr 28, 2026 | Ahmed Javed | 1,390 |
| Apr 28, 2026 | DeHaas Deborah L | 1,390 |
| Apr 28, 2026 | Madrazo Yris Jesus | 1,390 |
| Apr 28, 2026 | Williams Trevor Leigh | 4,184 |
| Mar 17, 2026 | Will W Anthony | 18K |
| Mar 15, 2026 | Will W Anthony | 97K |
| Mar 5, 2026 | ARZBAECHER ROBERT C | 12K |
| Feb 27, 2026 | Menzel Susan L | 10K |
| Feb 27, 2026 | Will W Anthony | 59K |
| Feb 27, 2026 | Hoker Richard A | 8,941 |
| Feb 27, 2026 | Frost Bert A | 14K |
| Feb 27, 2026 | Bohn Christopher D | 15K |
| Feb 27, 2026 | Malik Ashraf K | 5,689 |
| Feb 27, 2026 | Dempsey Linda M | 3,352 |
| Feb 27, 2026 | McGrane Michael Patrick | 1,781 |
| Feb 27, 2026 | Mayer Erik M. | 1,252 |
| Jan 6, 2026 | Menzel Susan L | 9,538 |
| Jan 6, 2026 | Hoker Richard A | 6,361 |
| Jan 6, 2026 | Frost Bert A | 13K |
| Jan 6, 2026 | Bohn Christopher D | 41K |
| Jan 6, 2026 | Dempsey Linda M | 3,259 |
| Jan 6, 2026 | McGrane Michael Patrick | 6,841 |
| Jan 5, 2026 | Will W Anthony | 10K |
| Jan 5, 2026 | Malik Ashraf K | 1,042 |
| Jan 5, 2026 | Cameron Gregory D | 2,291 |
| Jan 2, 2026 | Menzel Susan L | 1,095 |
| Jan 2, 2026 | Will W Anthony | 5,511 |
| Jan 2, 2026 | Hoker Richard A | 1,532 |
| Jan 2, 2026 | Frost Bert A | 1,496 |
| Jan 2, 2026 | Bohn Christopher D | 2,109 |
| Jan 2, 2026 | Malik Ashraf K | 593 |
| Jan 2, 2026 | Dempsey Linda M | 363 |
| Jan 2, 2026 | Cameron Gregory D | 1,195 |
| Jan 2, 2026 | McGrane Michael Patrick | 639 |
| Jul 7, 2025 | Menzel Susan L | 1,588 |
| Jul 7, 2025 | McGrane Michael Patrick | 1,553 |
| Jun 17, 2025 | Cameron Gregory D | 3,699 |
| May 13, 2025 | ARZBAECHER ROBERT C | 13K |
| May 6, 2025 | EAVES JOHN W | 2,074 |
| May 6, 2025 | HAGGE STEPHEN J | 3,293 |
| May 6, 2025 | ARZBAECHER ROBERT C | 2,074 |
| May 6, 2025 | TOELLE MICHAEL | 2,074 |
| May 6, 2025 | Wagler Theresa E | 2,074 |
| May 6, 2025 | White Celso L. | 2,074 |
| May 6, 2025 | Noonan Anne P | 2,074 |
| May 6, 2025 | Ellerbusch Susan A | 2,074 |
| May 6, 2025 | Ahmed Javed | 2,074 |
| May 6, 2025 | DeHaas Deborah L | 2,074 |
| May 6, 2025 | Madrazo Yris Jesus | 2,074 |
| Feb 28, 2025 | Menzel Susan L | 17K |
| Feb 28, 2025 | Will W Anthony | 117K |
| Feb 28, 2025 | Hoker Richard A | 16K |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
The chart, in numbers
| Flow | Shares |
|---|---|
| From holdings | 530K |
| Granted | 271K |
| Withheld for tax | 105K |
| Planned sales (10b5-1) | 21K |
| Discretionary sales | 644K |
| Gifts | 33K |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| Bohn Christopher D | 100K | 207K | 206.5 |
| Will W Anthony | 324K | 101K | 31.2 |
| Frost Bert A | 83K | 69K | 83.4 |
| HAGGE STEPHEN J | 50K | 60K | 120.2 |
| Menzel Susan L | 35K | 56K | 158 |
Who holds what
the 14 largest holdings of 24| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| Bohn Christopher D President & CEO Last trade Aug 24, 2022 | CEO | 212K | – | – | Aug 24, 2022 | |
| Will W Anthony President & CEO Last trade Mar 13, 2026 | CEO | 101K | – | $59M | net selling over the year: 0 months buying, 2 months selling | Mar 13, 2026 |
| Frost Bert A EVP, Chief Commercial Officer Last trade Mar 17, 2026 | Officer | 69K | – | $4.0M | net selling over the year: 0 months buying, 1 month selling | Mar 17, 2026 |
| HAGGE STEPHEN J Last trade Aug 17, 2010 | Director | 60K | – | – | Aug 17, 2010 | |
| Menzel Susan L EVP and Chief Admin. Officer Last trade Mar 12, 2026 | Officer | 56K | – | $4.7M | net selling over the year: 0 months buying, 2 months selling | Mar 12, 2026 |
| ARZBAECHER ROBERT C Last trade Feb 24, 2022 | Director | 54K | – | – | Feb 24, 2022 | |
| Hoker Richard A VP and Corporate Controller Last trade Mar 17, 2026 | Officer | 47K | – | $1.7M | net selling over the year: 0 months buying, 2 months selling | Mar 17, 2026 |
| Wagler Theresa E | Director | 36K | – | – | – | |
| Noonan Anne P Last trade Aug 26, 2022 | Director | 35K | – | – | Aug 26, 2022 | |
| Cameron Gregory D EVP and CFO | CFO | 29K | – | – | – | |
| EAVES JOHN W | Director | 27K | – | – | – | |
| TOELLE MICHAEL | Director | 27K | – | – | – | |
| White Celso L. Last trade Feb 26, 2021 | Director | 23K | – | – | Feb 26, 2021 | |
| Ahmed Javed | Director | 23K | – | – | – |
Open-market trade log
the 60 most recent of 512| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Mar 17, 2026 | Hoker Richard A (Officer) 3,499 shares $125.38 −12.8% since trade filed Mar 19, 2026 | Discretionary sale | 3,499 | $125.38 | $439K | −12.8% | Mar 19, 2026 |
| Mar 17, 2026 | Frost Bert A (Officer) 6,000 shares $126.00 −13.2% since trade filed Mar 19, 2026 | Discretionary sale | 6,000 | $126.00 | $756K | −13.2% | Mar 19, 2026 |
| Mar 17, 2026 | Mayer Erik M. (Officer) 1,500 shares $124.69 −12.3% since trade filed Mar 19, 2026 | Discretionary sale | 1,500 | $124.69 | $187K | −12.3% | Mar 19, 2026 |
| Mar 13, 2026 | Will W Anthony (Director) 20K shares $131.17 −16.6% since trade filed Mar 13, 2026 | Discretionary sale | 20K | $131.17 | $2.7M | −16.6% | Mar 13, 2026 |
| Mar 13, 2026 | Will W Anthony (Director) 33K shares $130.62 −16.3% since trade filed Mar 13, 2026 | Discretionary sale | 33K | $130.62 | $4.3M | −16.3% | Mar 13, 2026 |
| Mar 12, 2026 | Menzel Susan L (Officer) 18K shares $136.06 −19.6% since trade filed Mar 13, 2026 | Discretionary sale | 18K | $136.06 | $2.5M | −19.6% | Mar 13, 2026 |
| Mar 12, 2026 | Frost Bert A (Officer) 6,250 shares $136.69 −20.0% since trade filed Mar 13, 2026 | Discretionary sale | 6,250 | $136.69 | $854K | −20.0% | Mar 13, 2026 |
| Mar 11, 2026 | Will W Anthony (Director) 29K shares $118.64 −7.8% since trade filed Mar 13, 2026 | Discretionary sale | 29K | $118.64 | $3.4M | −7.8% | Mar 13, 2026 |
| Mar 9, 2026 | Frost Bert A (Officer) 5,534 shares $116.21 −5.9% since trade filed Mar 9, 2026 | Planned sale (10b5-1) | 5,534 | $116.21 | $643K | −5.9% | Mar 9, 2026 |
| Mar 6, 2026 | Frost Bert A (Officer) 10K shares $119.01 −8.1% since trade filed Mar 9, 2026 | Planned sale (10b5-1) | 10K | $119.01 | $1.2M | −8.1% | Mar 9, 2026 |
| Mar 6, 2026 | McGrane Michael Patrick (Officer) 3,666 shares $116.50 −6.1% since trade filed Mar 9, 2026 | Discretionary sale | 3,666 | $116.50 | $427K | −6.1% | Mar 9, 2026 |
| Mar 6, 2026 | Mayer Erik M. (Officer) 2,200 shares $116.25 −5.9% since trade filed Mar 9, 2026 | Discretionary sale | 2,200 | $116.25 | $256K | −5.9% | Mar 9, 2026 |
| Mar 5, 2026 | Menzel Susan L (Officer) 7,200 shares $111.00 −1.5% since trade filed Mar 9, 2026 | Discretionary sale | 7,200 | $111.00 | $799K | −1.5% | Mar 9, 2026 |
| Mar 5, 2026 | Will W Anthony (Director) 57K shares $109.35 +0.0% since trade filed Mar 9, 2026 | Discretionary sale | 57K | $109.35 | $6.3M | +0.0% | Mar 9, 2026 |
| Mar 5, 2026 | Hoker Richard A (Officer) 6,184 shares $109.33 +0.0% since trade filed Mar 9, 2026 | Discretionary sale | 6,184 | $109.33 | $676K | +0.0% | Mar 9, 2026 |
| Mar 5, 2026 | Malik Ashraf K (Officer) 2,439 shares $111.00 −1.5% since trade filed Mar 9, 2026 | Discretionary sale | 2,439 | $111.00 | $271K | −1.5% | Mar 9, 2026 |
| Mar 5, 2026 | Dempsey Linda M (Officer) 864 shares $107.00 +2.2% since trade filed Mar 6, 2026 | Discretionary sale | 864 | $107.00 | $92K | +2.2% | Mar 6, 2026 |
| Mar 4, 2026 | Dempsey Linda M (Officer) 136 shares $107.00 +2.2% since trade filed Mar 6, 2026 | Discretionary sale | 136 | $107.00 | $15K | +2.2% | Mar 6, 2026 |
| Mar 4, 2026 | Dempsey Linda M (Officer) 1,000 shares $106.00 +3.2% since trade filed Mar 6, 2026 | Discretionary sale | 1,000 | $106.00 | $106K | +3.2% | Mar 6, 2026 |
| Mar 3, 2026 | Menzel Susan L (Officer) 3,914 shares $106.09 +3.1% since trade filed Mar 5, 2026 | Discretionary sale | 3,914 | $106.09 | $415K | +3.1% | Mar 5, 2026 |
| Mar 3, 2026 | Will W Anthony (Director) 30K shares $108.78 +0.5% since trade filed Mar 5, 2026 | Discretionary sale | 30K | $108.78 | $3.3M | +0.5% | Mar 5, 2026 |
| Mar 3, 2026 | Will W Anthony (Director) 34K shares $109.32 +0.0% since trade filed Mar 5, 2026 | Discretionary sale | 34K | $109.32 | $3.7M | +0.0% | Mar 5, 2026 |
| Mar 3, 2026 | McGrane Michael Patrick (Officer) 2,766 shares $105.36 +3.8% since trade filed Mar 5, 2026 | Discretionary sale | 2,766 | $105.36 | $291K | +3.8% | Mar 5, 2026 |
| Mar 2, 2026 | Menzel Susan L (Officer) 6,858 shares $104.00 +5.1% since trade filed Mar 3, 2026 | Discretionary sale | 6,858 | $104.00 | $713K | +5.1% | Mar 3, 2026 |
| Mar 2, 2026 | Will W Anthony (Director) 1,950 shares $107.04 +2.2% since trade filed Mar 3, 2026 | Discretionary sale | 1,950 | $107.04 | $209K | +2.2% | Mar 3, 2026 |
| Mar 2, 2026 | Will W Anthony (Director) 44K shares $106.59 +2.6% since trade filed Mar 3, 2026 | Discretionary sale | 44K | $106.59 | $4.7M | +2.6% | Mar 3, 2026 |
| Mar 2, 2026 | Will W Anthony (Director) 44K shares $103.61 +5.5% since trade filed Mar 3, 2026 | Discretionary sale | 44K | $103.61 | $4.6M | +5.5% | Mar 3, 2026 |
| Mar 2, 2026 | Will W Anthony (Director) 46K shares $105.52 +3.6% since trade filed Mar 3, 2026 | Discretionary sale | 46K | $105.52 | $4.8M | +3.6% | Mar 3, 2026 |
| Mar 2, 2026 | Frost Bert A (Officer) 5,102 shares $105.99 +3.2% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 5,102 | $105.99 | $541K | +3.2% | Mar 3, 2026 |
| Mar 2, 2026 | Malik Ashraf K (Officer) 8,631 shares $103.08 +6.1% since trade filed Mar 3, 2026 | Discretionary sale | 8,631 | $103.08 | $890K | +6.1% | Mar 3, 2026 |
| Feb 27, 2026 | Will W Anthony (Director) 1,148 shares $100.00 +9.4% since trade filed Mar 3, 2026 | Discretionary sale | 1,148 | $100.00 | $115K | +9.4% | Mar 3, 2026 |
| Feb 27, 2026 | Will W Anthony (Director) 100K shares $99.06 +10.4% since trade filed Mar 3, 2026 | Discretionary sale | 100K | $99.06 | $9.9M | +10.4% | Mar 3, 2026 |
| Feb 27, 2026 | Hoker Richard A (Officer) 5,620 shares $98.50 +11.0% since trade filed Mar 3, 2026 | Discretionary sale | 5,620 | $98.50 | $554K | +11.0% | Mar 3, 2026 |
| Feb 27, 2026 | Dempsey Linda M (Officer) 1,000 shares $100.00 +9.4% since trade filed Mar 3, 2026 | Discretionary sale | 1,000 | $100.00 | $100K | +9.4% | Mar 3, 2026 |
| Feb 26, 2026 | Menzel Susan L (Officer) 3,215 shares $97.00 +12.7% since trade filed Feb 27, 2026 | Discretionary sale | 3,215 | $97.00 | $312K | +12.7% | Feb 27, 2026 |
| Feb 20, 2026 | Will W Anthony (Director) 112K shares $100.25 +9.1% since trade filed Feb 24, 2026 | Discretionary sale | 112K | $100.25 | $11M | +9.1% | Feb 24, 2026 |
| Jun 20, 2025 | Menzel Susan L (Officer) 10K shares $100.23 +9.1% since trade filed Jun 24, 2025 | Planned sale (10b5-1) | 10K | $100.23 | $1.0M | +9.1% | Jun 24, 2025 |
| Jun 16, 2025 | Frost Bert A (Officer) 5,000 shares $100.71 +8.6% since trade filed Jun 17, 2025 | Planned sale (10b5-1) | 5,000 | $100.71 | $504K | +8.6% | Jun 17, 2025 |
| Jun 16, 2025 | Frost Bert A (Officer) 5,003 shares $101.00 +8.3% since trade filed Jun 17, 2025 | Planned sale (10b5-1) | 5,003 | $101.00 | $505K | +8.3% | Jun 17, 2025 |
| Jun 13, 2025 | Frost Bert A (Officer) 2,750 shares $98.34 +11.2% since trade filed Jun 17, 2025 | Planned sale (10b5-1) | 2,750 | $98.34 | $270K | +11.2% | Jun 17, 2025 |
| Jun 13, 2025 | Frost Bert A (Officer) 13K shares $97.32 +12.4% since trade filed Jun 17, 2025 | Planned sale (10b5-1) | 13K | $97.32 | $1.3M | +12.4% | Jun 17, 2025 |
| Jun 13, 2025 | Malik Ashraf K (Officer) 5,498 shares $99.95 +9.4% since trade filed Jun 17, 2025 | Discretionary sale | 5,498 | $99.95 | $550K | +9.4% | Jun 17, 2025 |
| Jan 16, 2025 | Menzel Susan L (Officer) 1,350 shares $98.00 +11.6% since trade filed Jan 17, 2025 | Planned sale (10b5-1) | 1,350 | $98.00 | $132K | +11.6% | Jan 17, 2025 |
| Jan 15, 2025 | Menzel Susan L (Officer) 1,500 shares $96.00 +13.9% since trade filed Jan 17, 2025 | Planned sale (10b5-1) | 1,500 | $96.00 | $144K | +13.9% | Jan 17, 2025 |
| Jan 13, 2025 | Menzel Susan L (Officer) 1,500 shares $95.00 +15.1% since trade filed Jan 14, 2025 | Planned sale (10b5-1) | 1,500 | $95.00 | $143K | +15.1% | Jan 14, 2025 |
| Jan 13, 2025 | Frost Bert A (Officer) 3,000 shares $95.00 +15.1% since trade filed Jan 14, 2025 | Planned sale (10b5-1) | 3,000 | $95.00 | $285K | +15.1% | Jan 14, 2025 |
| Jan 13, 2025 | Malik Ashraf K (Officer) 8,889 shares $95.00 +15.1% since trade filed Jan 14, 2025 | Planned sale (10b5-1) | 8,889 | $95.00 | $844K | +15.1% | Jan 14, 2025 |
| Dec 3, 2024 | Menzel Susan L (Officer) 1,500 shares $94.00 +16.3% since trade filed Dec 4, 2024 | Planned sale (10b5-1) | 1,500 | $94.00 | $141K | +16.3% | Dec 4, 2024 |
| Dec 3, 2024 | Menzel Susan L (Officer) 2,000 shares $92.00 +18.9% since trade filed Dec 4, 2024 | Planned sale (10b5-1) | 2,000 | $92.00 | $184K | +18.9% | Dec 4, 2024 |
| Nov 21, 2024 | Malik Ashraf K (Officer) 7,000 shares $90.78 +20.5% since trade filed Nov 22, 2024 | Discretionary sale | 7,000 | $90.78 | $635K | +20.5% | Nov 22, 2024 |
| Nov 20, 2024 | Frost Bert A (Officer) 3,000 shares $88.00 +24.3% since trade filed Nov 22, 2024 | Discretionary sale | 3,000 | $88.00 | $264K | +24.3% | Nov 22, 2024 |
| Oct 4, 2024 | Menzel Susan L (Officer) 2,000 shares $90.00 +21.5% since trade filed Oct 7, 2024 | Planned sale (10b5-1) | 2,000 | $90.00 | $180K | +21.5% | Oct 7, 2024 |
| Oct 4, 2024 | Frost Bert A (Officer) 3,000 shares $90.00 +21.5% since trade filed Oct 7, 2024 | Planned sale (10b5-1) | 3,000 | $90.00 | $270K | +21.5% | Oct 7, 2024 |
| Oct 4, 2024 | Malik Ashraf K (Officer) 7,201 shares $90.02 +21.5% since trade filed Oct 7, 2024 | Planned sale (10b5-1) | 7,201 | $90.02 | $648K | +21.5% | Oct 7, 2024 |
| Mar 14, 2024 | Hoker Richard A (Officer) 11K shares $84.11 +30.0% since trade filed Mar 15, 2024 | Discretionary sale | 11K | $84.11 | $928K | +30.0% | Mar 15, 2024 |
| Mar 12, 2024 | Frost Bert A (Officer) 6,000 shares $85.00 +28.7% since trade filed Mar 13, 2024 | Discretionary sale | 6,000 | $85.00 | $510K | +28.7% | Mar 13, 2024 |
| Nov 15, 2023 | Frost Bert A (Officer) 5,000 shares $80.10 +36.5% since trade filed Nov 16, 2023 | Discretionary sale | 5,000 | $80.10 | $401K | +36.5% | Nov 16, 2023 |
| Sep 1, 2023 | Frost Bert A (Officer) 5,000 shares $78.45 +39.4% since trade filed Sep 6, 2023 | Discretionary sale | 5,000 | $78.45 | $392K | +39.4% | Sep 6, 2023 |
| Aug 9, 2023 | Barnard Douglas C (Officer) 387 shares $82.37 +32.8% since trade filed Aug 10, 2023 | Discretionary sale | 387 | $82.37 | $32K | +32.8% | Aug 10, 2023 |
| Aug 7, 2023 | Barnard Douglas C (Officer) 9,700 shares $80.37 +36.1% since trade filed Aug 8, 2023 | Discretionary sale | 9,700 | $80.37 | $780K | +36.1% | Aug 8, 2023 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles.
Filing hygiene
165 Forms 4, 3 years
0 filed late
0 amendments
1.8 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.