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


SCHEDULE 14A
(Rule 14a-101)
SCHEDULE 14A INFORMATION


Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant þ
Filed by a Party other than the Registrant o
Check the appropriate box:
oPreliminary Proxy Statement
oConfidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
þDefinitive Proxy Statement
oDefinitive Additional Materials
oSoliciting Material Pursuant to §240.14a-12
CVR Energy, Inc.
(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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April 23, 2021


To the Stockholders of CVR Energy, Inc.:


On behalf of our Board of Directors and management team, I am pleased to invite you to attend the 20212024 Annual Meeting of Stockholders (the “Annual Meeting”) of CVR Energy, Inc. on Wednesday, June 2, 2021,May 29, 2024, at 10:00 a.m. (Central Daylight Time). Once again, our Annual Meeting will be held via live webcast, which we believe not only to increaseincreases efficiency and improvelowers costs, but also improves our stockholders’ ability to participate, but also due to public health considerations.participate.


You will be able to attend, vote your shares electronically, and submit questions during the Annual Meeting by visiting www.virtualshareholdermeeting.com/CVI2021. Details on how to attend the Annual Meeting online and the business to be conducted are fully described in this Proxy Statement, which is available to stockholders online at www.proxyvote.com or by following the instructions set forth in the Notice of Internet Availability of Proxy Materials (the “Notice”) that you received.

2020 was an unprecedented year, as the COVID-19 pandemic touched every part of our lives. While challenging, I am proud of all we were able to accomplish during the year, remainingIn 2023, CVR Energy remained focused on achieving our Mission of being a top-tier North American petroleum refining and nitrogen-based fertilizer company and committed to our core Values of Safety, Environment, Integrity, Corporate Citizenship and Continuous Improvement. These core Values inform not only howImprovement and achieved another record year for the Company. Our performance allowed us to return value to our stockholders, with cumulative cash dividends of $4.50 per share for 2023, inclusive of special dividends.

We remain committed to reducing our environmental footprint and continue to evaluate new opportunities for renewables projects, while monitoring our Environmental, Social & Governance (“ESG”) performance. Our commitment to lowering our carbon footprint and reducing our exposure to RINs was evident in 2023 as we do business eachcontinued to produce renewable diesel at our Wynnewood refinery and every day, butcompleted construction of the site’s renewable diesel pre-treatment unit, which commenced commissioning in February 2024. We also continued the compensationcarbon capture and corporate governance practices we employsequestration activities at our Coffeyville nitrogen fertilizer plant in connection with the monetization of 45Q tax credits. Our 2022 ESG report, which further highlights our ESG performance, is now available on our website at www.CVREnergy.com. We look forward to the benefit of allpublishing our stockholders. Details about these items,2023 ESG report later this year.

I encourage you to review this Proxy Statement, as well as otherthe accompanying 2023 Annual Report, to learn more about CVR and to gain valuable information you may need to make informed decisions about the matters on which you are being asked to vote. Your vote are included in this Proxy Statement.is important and I encouragehope that you to read it and to exercise your right to vote your shares.


Thank you for your investment in CVR Energy, Inc. and for your continuing support. I wish you and yours health and prosperity in 20212024 and beyond.


Sincerely,
CVR Energy, Inc.
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David L. Lamp
President and Chief Executive Officer














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NOTICE OF 20212024 ANNUAL MEETING OF STOCKHOLDERS

When:
Wednesday, June 2, 2021,May 29, 2024, at 10:00 a.m. (Central Daylight Time)

Where:Virtually via live webcast at www.virtualshareholdermeeting.com/CVI2021CVI2024
Items of Business:Agenda:
At the Annual Meeting, you will be asked to:
1.Proposal 1: Elect the eight directorsseven director nominees named in this Proxy Statement, each to serve a one-year term;
2.Proposal 2:Approve, on an advisory basis, our named executive officer compensation (“Say-on-Pay”);compensation;
3.Proposal 3:Ratify the appointment of our independent registered public accounting firmauditor for the 20212024 fiscal year; and
4.Transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof.
Who Can Vote:Stockholders of record as of the close of business on Friday,Monday, April 9, 2021.1, 2024.
How to Vote:Your vote is important! Even if you plan to attend the virtual Annual Meeting, it is important you vote as soon as possible using one of the methods set forth in this Proxy Statement.following methods:
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Via the Internet:
Follow the instructions in the Notice or proxy card.
Call Toll-Free:
Call the toll-free number on your proxy card.
Mail Signed Proxy Card:
Follow the instructions on your proxy card.
How to Request Materials:Our proxy materials, including our Annual Report on Form 10-K for the year ended December 31, 2020, are2023 (the “2023 Annual Report”), will be available to stockholders free of charge by requesting a copy online at www.proxyvote.com beginning on or about April 18, 2024, or by other methods set forth in this Proxy Statement.
By Order of the Board of Directors,
CVR Energy, Inc.
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Melissa M. Buhrig
Executive Vice President,
General Counsel and Secretary
Sugar Land, Texas
IMPORTANT NOTICE REGARDING THE INTERNET AVAILABILITY OF PROXY MATERIALS
April 23, 2021
The Proxy Statement and the 2023 Annual Report are available at www.proxyvote.com








CVR ENERGY, INC.
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
(281) 207-3200
www.cvrenergy.comwww.CVREnergy.com
PROXY STATEMENT
Table of Contents
 







PROXY STATEMENT FOR CVR ENERGY, INC.
20212024 ANNUAL MEETING OF STOCKHOLDERS


PROXY STATEMENT SUMMARY


This summary highlights information contained elsewhere in this Proxy Statement. This is only a summary and may not contain all of the information that is important to you.you or that you should consider before voting. Please review this Proxy Statement in full, as well as our Annual Report on Form 10-K for the year ended December 31, 20202023 (the “2020“2023 Annual Report”).


20212024 Meeting Information


This Proxy Statement is furnished in connection with the solicitation by the Board of Directors (the “Board”) of CVR Energy, Inc. (“CVR Energy” or the “Company”) of proxies to be voted at the 20212024 Annual Meeting of Stockholders (the “Annual Meeting”), and at any adjournments or postponements thereof.
Date:June 2, 2021May 29, 2024
Time:10:00 a.m. (Central Daylight Time)
Location:
Virtually via live webcast at
www.virtualshareholdermeeting.com/CVI2021CVI2024
Record Date:April 1, 2024
Voting:Only holders of record of CVR Energy, Inc.’s common stock as of the Record Date (April 1, 2024) will be entitled to notice and to vote.
How to Attend:By entering, at the website above, the control number, which may be found on the Notice of Internet Availability of Proxy Materials sent to you.

Matters to be Voted Upon


In addition to the proposals listed below, stockholders will also transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. Each proxy will be voted as specified by the stockholder. Any duly executed proxy not specifying to the contrary will be voted in accordance with the Board’s recommendations, listed below.

ProposalsBoard RecommendationPage Reference
ProposalsBoard RecommendationPage Reference
Proposal 1.Election of Eight Directors Named in this Proxy StatementElect Seven Director Nominees
FOR each nominee ALL nominees
Proposal 2.Advisory VoteApprove, on an advisory basis, our Named Executive Officer Compensation (“Say-on-Pay”)FORFOR
Proposal 3.Ratification ofRatify the Appointment of Auditorsour Independent AuditorFORFOR
Board, Governance, and Compensation Highlights


Our Board believes that our commitment to high ethical standards, strong corporate governance, the skills and experience of our directors, and our compensation policies and practices benefit our stockholders, employees, customers, and communities. Some highlights of our corporate governance and compensation practices include:
Experienced Board with all directors elected annually;
Active Board and committee oversight of Company risks;
Separate Chairman and Chief Executive Officer (“CEO”) roles;
Independent directors who regularly meet in executive session;
Alignment of executive pay with Company performance, including rigorous performance goals;
Executive compensation that includes fixed, variable, long-term, and short-term elements; and
Clawback policies in long-term incentive awards.


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About CVR Energy, Inc.
2020 Company Performance Highlights
Headquartered in Sugar Land, Texas, CVR Energy, Inc. (herein, “CVR Energy”, the “Company”, “us”, “we” and “our” as the context may require) is a diversified holding company primarily engaged in the renewable fuels and petroleum refining and marketing businesses, as well as in the nitrogen fertilizer manufacturing business through its interest in CVR Partners, LP (“CVR Partners”), a publicly traded limited partnership. A subsidiary of CVR Energy serves as the general partner of and owns approximately 37 percent of the common units of CVR Partners. Icahn Enterprises L.P. and its affiliates (“IEP”) own approximately 66 percent of CVR Energy’s outstanding common stock.

Mission and Core Values

During 2020,2023, we continued our Mission of being a top-tier North American renewable fuels, petroleum refining, and nitrogen-based fertilizer company as measured by safe and reliable operations, superior performance, and profitable growth.growth, as well as our focus on renewables initiatives.


Our core values defineValues are driven by our people, inform the way we do business each and every day, and enhance our ability to accomplish our mission and serve as the foundation on which our Company is built.

related strategic objectives.
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Safety
We always put safety first. The protection of our employees, contractors and communities is paramount. We have an unwavering commitment to safety above all else. If it’s not safe, then we don’t do it.
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Environment
We care for our environment. Complying with all regulations and minimizing any environmental impact from our operations is essential. We understand our obligation to the environment and that it’s our duty to protect it.
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Integrity
We require high business ethics. We comply with the law and practice sound corporate governance. We only conduct business one way—the right way with integrity.
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Corporate Citizenship
We are proud members of the communities where we operate. We are good neighbors and know that it’s a privilege we can’t take for granted. We seek to make a positive economic and social impact through our financial donations and the contributions of time, knowledge, and talent of our employees to the places where we live and work.
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Continuous Improvement
We believe in both individual and team success. We foster accountability under a performance-driven culture that supports creative thinking, teamwork, diversity, and personal development so that employees can realize their maximum potential. We use defined work practices for consistency, efficiency, and to create value across the organization.




Governance, Executive Compensation and ESG Highlights

Our Board believes that our commitment to high ethical standards and environmental, social and governance (“ESG”) initiatives, strong corporate governance, the skills and experience of our directors, and our compensation policies and practices benefit our stockholders, employees, customers, and communities. Some highlights of our corporate governance, compensation, and ESG practices include:
Experienced Board with all directors elected annually;
Active Board and committee oversight of Company risks;
Annual Board and committee self-evaluations;
Separate Chairman and Chief Executive Officer (“CEO”) roles;
Independent directors who regularly meet in executive session;
Alignment of executive pay with Company performance, including rigorous performance goals;
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Executive compensation that includes fixed, variable, long-term, and short-term elements, portions of which are tied to Company’s environmental, health & safety performance;
A Clawback Policy, as well as clawback provisions in our long-term incentive awards and our performance-based bonus plans; and
Board and committee oversight of ESG reporting aligned with the Sustainability Accounting Standards Board (“SASB”) / Value Reporting Foundation framework in the Oil & Gas - Refining & Marketing industry standard.

At CVR Energy, we are committed to minimizing our environmental impacts from operations, making modern life possible through the products we manufacture and delivering maximum value to our stockholders. In December 2023, we published our 2022 Environmental, Social & Governance Report (“2022 ESG Report”), which is based on the Sustainability Accounting Standards Board standards and is available at CVR Energy’s website at www.CVREnergy.com. Our strategic objectives2022 ESG Report does not constitute a part of, Safety, Reliability, Market Capture, and Financial Discipline driveis not incorporated by reference into, this Proxy Statement or any other report we file with (or furnish to) the accomplishment of our Mission. We successfully executed a number of achievements in support of our strategic objectives shown below throughU.S. Securities and Exchange Commission (“SEC”), whether made before or after the date of our 2020 Annual Report.this Proxy Statement.
SafetyReliabilityMarket CaptureFinancial Discipline
Corporate:
Increased liquidity and extended debt maturity with the January issuance of $1.0 billion of Senior Unsecured Notes due in 2025 and 2028, and the redemption of $0.5 billion CVR Refining, LP Senior Notes due in 2022.ü
Operated our Petroleum Segment and Nitrogen Fertilizer Segment facilities safely and reliably and maintained financial discipline amid COVID-19 pandemic.üüü
Reduced consolidated operating and SG&A expenses by over 12% compared to 2019.ü
Reduced lost profit opportunities by $46 million compared to 2019.üüü
Achieved over 19% reduction in environmental events compared to 2019.ü
Reduced capital spending by over $21 million compared to initial spending plans.ü
Petroleum Segment:
Safely completed the planned turnaround of the Coffeyville Refinery in April 2020, limiting exposure to the volatile margin environment.üüüü
Received Board approval to proceed with construction of the Renewable Diesel Unit project at the Wynnewood Refinery.üü
Announced agreement to acquire Oklahoma crude oil pipeline business from Blueknight Energy.üü
Reduced operating and SG&A expenses by 13% compared to 2019.ü
Reduced lost profit opportunities by $32 million compared to 2019.üüü
Reduced capital spending by $20 million compared to initial spending plans.ü
Achieved over 40% reduction in environmental events compared to 2019.ü
Nitrogen Fertilizer:
Maintained high asset reliability and a combined utilization rate of 98% at both facilities through the fourth quarter of 2020.üüü
Achieved record shipments of ammonia from the East Dubuque Fertilizer Facility during April 2020.üü
Reduced lost profit opportunities by $14 million compared to 2019.üüü
Generated Coffeyville Fertilizer Facility’s first carbon offset credits related to N2O abatement and continued sequestration of CO2 for enhanced crude oil recovery.
üü
Reduced operating and SG&A expenses by over 12% in 2020 as compared to 2019.ü
Reduced capital spending by $9 million compared to initial spending plans.ü
Amended and extended the CVR Partners, LP’s ABL Credit Agreement during the third quarter of 2020.ü
Completed Messer LLC contract renewal with favorable conditions including new O2 tank.
ü
Repurchased $7 million of CVR Partners, LP common units during 2020.ü



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Environmental, Social & Governance (“ESG”) Highlights
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In the past year, we achieved numerous milestones through our commitment to sustainability, including environmental and safety stewardship, diversity and inclusion, community outreach and sound corporate governance, a sampling of which are listed below:
Environmental & Safety StewardshipIn our Petroleum SegmentIn our Nitrogen Fertilizer Segment
ü Reduced criteria pollutant emissions approx. 20% from 2015 to 2019

ü Commenced construction on renewable diesel unit designed to produce approx. 100 million gallons of renewable diesel/year
ü Received Oklahoma Trucking Association Fleet Safety Award
ü Mitigated >1mm metric tons of carbon dioxide equivalents (CO2e)/year
ü Manufactured hydrogen and ammonia that qualifies as “blue” with carbon capture and sequestration through enhanced oil recovery


Building
Inclusive
Communities
v Diversity is key component of our Mission & Values
v Site-Level Community Impact Committees steer local contributions, sponsorships and volunteer activities
Leadership
Accountability
v Board Level ESG oversight

v 25% of CVR Energy Directors and 38% of CVR Partners Directors are female or racially diverse

v Average tenure of CVR Energy and CVR Partners’ Directors is less than 8 years
v Annual Code of Ethics & Business Conduct certification
v Standing EH&S Committee chaired by independent Director and former EPA Assistant Administrator for Enforcement
v More than 75% of Executive Compensation is variable & tied to Company performance

The Mission & Values that guide CVR Energy are core to our sustainability commitment, including to carbon footprint reduction, through Board-approved projects.
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INFORMATION ABOUT THE ANNUAL MEETING AND PROXY MATERIALS
We are providing this Proxy Statement and related materials because our Board is soliciting your proxy to vote your shares at the 20212024 Annual Meeting of Stockholders to be held on Wednesday, June 2, 2021,May 29, 2024, beginning at 10:00 a.m. (Central Daylight Time) virtually at www.virtualshareholdermeeting.com/CVI2021CVI2024 and at any adjournments or postponements of the Annual Meeting.thereof. This Proxy Statement and the enclosed proxy card are being first made available to stockholders of record on or about April 23, 2021.17, 2024. All stockholders are invited to attend the online virtual Annual Meeting.


Important Notice Regarding the Availability of Proxy Materials for the 20212024 Annual Meeting of Stockholders to be Held on June 2, 2021:May 29, 2024:


This Proxy Statement and our 20202023 Annual Report are available online at www.proxyvote.com.


What matters will be voted on, how does the Board recommend I vote, and what is required to approve each matter?


The three matters scheduled to be voted on at the Annual Meeting, the recommendations of the Board, and the approval required for each matter are listed below:
ProposalsProposalsBoard RecommendationPage ReferenceRequirement to Approve
Proposal 1:
Election of Eight Directors Named in this Proxy StatementElect Seven Director Nominees
FOR each nominee ALL nominees
Affirmative vote of a plurality of the votes present in person (virtually) or by proxy and entitled to vote (in other words, the eightseven nominees who receive the most votes “FOR” their election will be elected).
Proposal 2:
Advisory VoteApprove, on an advisory basis, our Named Executive Officer Compensation (“Say-on-Pay”)
FORFORAffirmative vote of a majority of the votes present in person (virtually) or by proxy and entitled to vote. However, the vote is non-binding, and CVR Energy will not be required to take any action as a result of the outcome of the vote.
Proposal 3:
Ratification ofRatify the Appointment of Auditorsour Independent Auditor for 2024
FORFORAffirmative vote of a majority of the votes present in person (virtually) or by proxy and entitled to vote.

In addition to these matters, stockholders will also transact such other business as may properly come before the meetingAnnual Meeting or any adjournments or postponements thereof.


How do I vote?


If you were a stockholder of record at the close of business on the Record Date, April 9, 20211, 2024 (the “Record Date”), you can vote your shares by any one of the following methods:
Before the Annual Meeting:
ByVia the internet, by visiting www.proxyvote.com and entering your control number;
By telephone at1-800-690-6903 and providing your control number; or
By signing and returning your proxy card by mail, if you received a paper copy of the proxy materials.
During the Annual Meeting:
By participating in the Annual Meeting and voting online during the Annual Meeting at www.virtualshareholdermeeting.com/CVI2021.CVI2024.


If you were a beneficial owner at the close of business on the Record Date, you will be sent separate voting instructions from your broker, bank, or other nominee explaining how to vote your shares. Beneficial owners who wish to vote during our online Annual Meeting must ask the brokerage firm, trust,broker, bank, or other nominee that holds their shares to provide them with a legal proxy to vote such shares.


Whether or not you plan to attend the Annual Meeting, we urge you to vote. Returning the proxy card or voting by telephone or via the internet will not affect your right to attend the Annual Meeting and vote online during the Annual Meeting.

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Why did I receive the Notice? How do I request a paper copy of the proxy materials and 20202023 Annual Report?


Pursuant to rules adopted by the Securities and Exchange Commission (the “SEC”),SEC, the Company has elected to provide its proxy materials over the Internet.internet. Accordingly, we have sent a Notice of Internet Availability of Proxy Materials (the “Notice”) to our stockholders of record as of the Record Date, April 9, 2021.1, 2024. All stockholders may access the proxy materials on the website referred to in the Notice: www.proxyvote.com. Our 20202023 Annual Report and other periodic filings with the SEC are also available at the SEC’s website at www.sec.govwww.SEC.gov or at www.cvrenergy.comwww.CVREnergy.com under the heading “Investor Relations” and the subheading “SEC Filings.” Unless specifically stated herein, documents and information on our website are not incorporated by reference in this Proxy Statement.


Stockholders may request a paper copy of our proxy materials and 20202023 Annual Report free of charge by:
Requesting online at www.proxyvote.com; 
Calling 1-800-579-1639;
Sending an email to sendmaterial@proxyvote.com including your control number; or
Writing to Melissa M. Buhrig, Secretary, at the Company’s corporate headquarters located at 2277 Plaza Drive, Suite 500, Sugar Land, Texas 77479.


Please make the request as instructed above on or before May 15, 2024, to facilitate timely delivery. While stockholders may request to receive paper copies of proxy materials on an ongoing basis, the Company encourages stockholders to access the proxy materials online to help reduce the costs the Company incurs in printing and mailing paper copies of the proxy materials and 20202023 Annual Report. Please make the request as instructed above on or before May 19, 2021, to facilitate timely delivery.


What is a Proxy Statement?


A Proxy Statement is a document that the SEC requires us to give you when we solicit your proxy to vote your shares on your behalf. A proxy is your legal designation of another person to vote the stock you own. When you vote online, by telephone or by signing, dating and returning your proxy card, you designate two of our officers as your proxies at the Annual Meeting. These two officers are Tracy D. Jackson,Dane J. Neumann, our Executive Vice President, and Chief Financial Officer, (“CFO”),Treasurer, and Assistant Secretary, and Melissa M. Buhrig, our Executive Vice President, General Counsel and Secretary, each with full power to act without the other and with full power of substitution.


Who is entitled to vote?


Holders of CVR Energy common stock at the close of business on the Record Date, April 9, 20211, 2024, are entitled to receive the Notice and to vote their shares at the Annual Meeting and any adjournments or postponements thereof. Each share of CVR Energy common stock is entitled to one vote. A list of stockholders of record will be available for inspection during normal business hours for 10ten days preceding the Annual Meeting at our corporate headquarters located at 2277 Plaza Drive, Suite 500, Sugar Land, Texas 77479 and electronically during the Annual Meeting at www.proxyvote.com when you enter your control number. On the Record Date, there were 100,530,599 shares of CVR Energy common stock outstanding. CVR Energy common stock is our only class of voting stock issued and outstanding.

How many votes do I have?

You will have one vote for every share of CVR Energy common stock that you owned at the close of business on the Record Date, April 9, 2021.


What is the difference between a stockholder of record and a beneficial owner?


If your shares are registered directly in your name with CVR Energy’s transfer agent, Equiniti Trust Company, LLC (formerly American Stock Transfer & Trust Company,Company), you are considered thea “stockholder of record” with respect to those shares. If your shares are held in a stock brokerage account, by a bank, or other nominee, you are considered a “beneficial owner” with respect to those shares, which shares are sometimes referred to as being held “in street name,” and access to our proxy materials is being provided to you by your broker, bank, or other nominee who is considered the stockholder of record with respect to those shares.





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Can I revoke or change my vote?


If you are a stockholder of record, you can change or revoke your proxy before it is voted at the Annual Meeting in one of the following ways:
Timely delivering a valid, later-dated proxy or a later-dated vote by telephone;
Timely delivering written notice of revocation to the Company’s Secretary at the address above; or
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Attending the Annual Meeting online and voting online during the Annual Meeting.


If you are a beneficial owner of shares but not the stockholder of record, you may submit new voting instructions by contacting your broker, bank, or other nominee. You may also vote at the Annual Meeting if you obtain a legal proxy as described in the answer to the question “How do I vote?” above. All shares that have been properly voted and not revoked will be voted at the Annual Meeting.


How cando I participate inattend the virtual Annual Meeting?


The Annual Meeting will be held entirely virtually,online, as permitted by Delaware law and the Company’s Second Amended and Restated By-Laws (the “By-Laws”).our By-Laws. There will be no physical location at which stockholders may attend the Annual Meeting, but stockholders may participate in and vote at the Annual Meeting online. Stockholders who participate in the virtual Annual Meeting will be deemed to be present in person and will be able to vote during the Annual Meeting at the time the polls are open.Meeting. Stockholders who wish to participate inattend the meetingAnnual Meeting should go to www.virtualshareholdermeeting.com/CVI2021CVI2024 at least 10 minutes before the beginning of the Annual Meeting to register their participation and complete the verification procedures to confirm that they were stockholders of record (or a duly authorized proxy holder of a stockholders of record) as of the Record Date, April 9, 2021.1, 2024. Stockholders who participate in the virtual Annual Meeting will be deemed to be present in person and will be able to vote during the Annual Meeting at the time the polls are open. Stockholders of record (or a duly authorized proxy holder of a stockholder of record) will need to provide their control number to verify their identity and gain access to the Annual Meeting.


How do I submit a question at the Annual Meeting?

Stockholders who are admitted to the Annual Meeting at www.virtualshareholdermeeting.com/CVI2024 after providing their control number are permitted to submit questions electronically during the Annual Meeting by following the instructions on the virtual meeting platform. Questions should be succinct, cover only one topic per question, and be limited to matters in the Agenda to be voted on by Stockholders at the Annual Meeting. Questions from multiple Stockholders on the same topic or that are otherwise related may be grouped, summarized and answered together. Stockholders will be limited to two questions (limited to 200 characters per question) per Stockholder. Stockholders may raise any questions not answered during the Annual Meeting (such as questions raising matters of individual concern and not of general concern to all Stockholders) after the Annual Meeting by contacting Investor Relations by phone at (281) 207-3205 or email at investorrelations@cvrenergy.com.

What if during the check-in time or during the Annual Meeting, I have technical difficulties or trouble accessing the live webcast?


If you encounter any difficulties accessing the live webcast during the check-in or meeting, please call the Broadridge technical support number that will be posted on the Annual Meeting log-in page at www.virutalshareholdermeeting.com/CVI2021.www.virtualshareholdermeeting.com/CVI2024.


What votes need to be present to hold the Annual Meeting?


Under our By-Laws, the presence, in person online,(virtually) or by proxy, of the stockholders of record of a majority of the aggregate voting power of the common stock issued and outstanding on the Record Date (April 9, 2021)1, 2024) entitled to vote at the Annual Meeting will constitute a quorum for the transaction of business at the Annual Meeting. Abstentions and broker “non-votes” are counted as present and entitled to vote for purposes of determining whether a quorum exists. Although not expected, if a quorum is not present or represented, we may adjourn and reschedule the Annual Meeting, without notice other than announcement at the Annual Meeting, until a quorum is present or represented.


How are votes counted?


For Proposal 1 (Election of Eight Directors Named in this Proxy Statement)(Elect Seven Director Nominees), your vote may be cast “FOR” all“FOR ALL” of the nominees, “WITHHOLD ALL” of the nominees, or your vote may be “WITHHOLD”“FOR ALL EXCEPT” with respect to one or more of the nominees. If you withhold your vote with respect to any nominee, your vote will have no effect on the election of such nominee.

For all other proposals,Proposals 2 (Advisory Approval of Named Executive Officer Compensation) and 3 (Ratify Appointment of Independent Auditor), your vote may be cast “FOR” or “AGAINST” or you may “ABSTAIN.” If you “ABSTAIN” from voting with respect to any of these proposals,Proposals 2 and 3, it has the same effect as a vote “AGAINST” the proposal. If you sign your voting instruction form with no further instructions and you are a stockholder of record as of the Record Date, then your shares will be voted in accordance with the recommendations of our Board. If you sign your voting
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instruction form with no further instructions and you are a beneficial owner, then please see the response to the question immediately below for a description of how your shares will be voted.

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What is the effect of broker non-votes?


A broker “non-vote” occurs when a broker, bank, or other nominee holding shares for a beneficial owner does not vote on a particular proposal because the nominee does not have discretionary voting power with respect to that item and has not received voting instructions from the beneficial owner. Under current New York Stock Exchange (the “NYSE”(“NYSE”) rules, a broker, bank, or other nominee may exercise discretionary voting power for the ratificationProposal 3 (Ratify Appointment of the selection of Grant Thornton LLPIndependent Auditor) and, therefore, no broker non-votes are expected for this proposal. However, your broker, bank, or other nominee will not be permitted to exercise discretion to vote your shares for the electionProposal 1 (Elect Seven Director Nominees) or Proposal 2 (Advisory Approval of directors or the Say-on-Pay proposal.Named Executive Officer Compensation). Directors are elected by a plurality vote and, therefore, shares subject to a broker non-vote with respect to the election of directors will have no effect on the election of nominees. Shares subject to a broker non-vote with respect to the Say-on-Pay proposal are notProposal 2 (Advisory Approval of Named Executive Officer Compensation) will be considered to be entitled to vote at the Annual Meetingon such proposal and, therefore, will have nothe effect of “AGAINST” these proposals.

How are proxies solicited and who pays the cost of solicitation?

Proxies may be solicited by or on behalf of the Say-on-Pay proposal.

Who will payCompany by our directors, officers, employees or other agents by telephone, by fax, by other electronic means of communication (through electronic mail and the costs of soliciting these proxies?

Company’s webpage), or in person. We will bear all costs of solicitation. Upon request, we will reimburse brokers, banks, and other nominees for the expenses they incur in forwarding the proxy materials to you.

Is this Proxy Statement the only way that proxies may be solicited?

No. In addition to our mailing the Notice, members of our Board, executive officers, and certain employees may solicit proxies by telephone, by fax, by other electronic means of communication (through electronic mail and the Company’s webpage), or in person. They will not receive any compensation for their solicitation activities in addition to their regular compensation. We have not engaged an outside solicitation firm in connection with the solicitation of proxies at this year’s Annual Meeting.Meeting


Where can I find the voting results?


We will publish voting results in a Current Report on Form 8-K (“Form 8-K”) that we will file with the SEC within four business days following the Annual Meeting. If on the date of this filing the inspector of election for the Annual Meeting has not certified the voting results as final, we will note in the filing that the results are preliminary and publish the final results in a subsequent amended Form 8-K filing within four business days after the final voting results are known.


Why did I receive only one Notice when there are several stockholders of record at my address?


If you and other residents at your mailing address own shares in street name, your broker, bank, or other nominee may have sent you a notice that your household will receive only one annual report and proxy statement for each company in which you hold shares through that broker, bank, or other nominee. This practice is called “householding.” If you did not respond that you did not want to participate in householding, you are deemed to have consented to that process. If these procedures apply to you, your broker, bank, or other nominee will have sent one copy of the Notice and, if applicable, our 20202023 Annual Report and Proxy Statement to your address. You may revoke your consent to householding at any time by contacting your broker, bank, or other nominee.


If you did not receive an individual copy of the Notice, our 20202023 Annual Report, or Proxy Statement, we will send copies to you if you contact us at 2277 Plaza Drive, Suite 500, Sugar Land, Texas 77479, (281) 207-3200, Attention: General Counsel & Secretary or use one of the other methods described in this Proxy Statement. If you and other residents at your address have been receiving multiple copies of the Notice or, if applicable, our 20202023 Annual Report or Proxy Statement, and desire to receive only a single copy of these materials, you may contact your broker, bank, or other nominee or contact us at the above address or telephone number.


Whom should I contact if I have any questions about my common stock ownership?


If you are a stockholder of record and have any questions about your ownership of CVR Energy common stock, please contact our transfer agent at: Equiniti Trust Company, LLC (formerly American Stock Transfer & Trust Company, LLC, 6201 15th Avenue, Brooklyn, NY 11219,LLC), PO Box 500, Newark, NJ 07101, Telephone: (800) 937-5449, E-mail: help@astfinancial.com,401-1957 (U.S. residents) or (800) 468-9716 (non-U.S. residents), or Website Address: www.astfinancial.com.www.equiniti.com. If you holdare a beneficial owner, holding your shares “in street name”name,” please contact your broker, bank, or other nominee.nominee with questions about your ownership of CVR Energy common stock.
1211



CORPORATE GOVERNANCE


Introduction


We believe that good corporate governance benefits all of our stockholders and is a critical component to driving long-term stockholder value. Our Corporate Governance Guidelines, Second Amended and Restated By-Laws, and the charters of our Board committees, guide our actions and define the primary roles, responsibilities and oversight functions of the Board and its committees. We regularly review and consider, and may make changes to our corporatethese governance policies and practicesdocuments in light of the rules, regulations, and standards of the SEC and NYSE, industry best practices, and input from our Board, its committees, and our stockholders.


We have adopted a Code of Ethics and Business Conduct (the “Code”) that applies to all of our directors, officers, and employees, and also includes portions that specifically apply to our CEO, CFO,Chief Executive Officer, and all finance associates, including the Chief Financial Officer, Principal Accounting Officer, and others performing related functions, andsimilar functions. The Code also, to the extent required in their agreements with us, applies to contractors, suppliers, vendors, consultants, and others who do business on our behalf. The Code strictly prohibits our employees and contractors from taking any act in support of human rights abuses, including forced labor and human trafficking. Our employees and directors review and acknowledge or receive training on the Code at least annually.

Copies of the Code and our Corporate Governance Guidelines are posted on our website at www.cvrenergy.comwww.CVREnergy.com under the heading “Investor Relations” and the subheading “Corporate Governance.” Printed copies of these documents are also available free of charge upon request to our Secretary. We will post on our website or file a Form 8-K with the SEC any amendments to, or waivers from, the Code requiring disclosure under applicable rules within four business days following theany such amendment or waiver.


Board Composition

Our Board

At the beginning is currently comprised of 2020, the Board consisted of threefour directors affirmatively determined by the Board to be independent directors (Bob G. Alexander,(Jaffrey A. Firestone, Stephen Mongillo, Mark J. Smith, and James M. Strock), one employee director (David L. Lamp, our President and CEO)Chief Executive Officer (“CEO”)), and fourtwo non-management directors who are also employees of IEP (Dustin DeMaria and Ted Papapostolou). All of our existing directors and/or executive officers of Icahn Enterprises L.P. (“IEP”) (SungHwan Cho; Patricia A. Agnello; Jonathan Frates; and Hunter C. Gary). On April 15, 2020, Jaffrey A. Firestone, who had been affirmatively determined byserved on the Board to be independent, was appointed toduring 2023 except Messrs. DeMaria and Smith, who joined the Board in March 2024. During 2023, two other individuals who are affiliated with IEP served as non-management directors (Hunter C. Gary from January 1, 2023 until December 31, 2023 and its Audit Committee and Environmental, Health & Safety (“EH&S”) Committee, following Mr. Alexander’s passing on April 5, 2020. Effective on April 20, 2021, SungHwan Cho, our Chairman, resignedthereafter until his resignation from the Board on March 15, 2024 and its Governance Committee and Special Committee for personal reasons, and not as a result of any disputes or disagreements with the Board or the Company, or any officers or employees thereof. Effective on Mr. Cho’s resignation, the Board (i) appointed Patricia A. Agnello as Chairman of the Board, and (ii) following review of Kapiljeet Dargan’s background, skills, expertise, and qualifications for membership on the Board, determined that Mr. Dargan was qualified to serve on the Board, and appointed Mr. Dargan to serve as a director. As detailed in his biography included herein, Mr. Dargan is an employee of IEP, an entity controlled by Mr. Carl C. Ichan. Mr. Icahn indirectly controls approximately 70.8% of the common shares of CVR Energy. Other than the foregoing, as of the date of his appointment, Mr. Dargan is not a party to any transactions that would be required to be reported under Item 404(a) of Regulation S-K and there are no other arrangements or understandings between Mr. Dargan and any other persons pursuant to which he was selected as a director. Mr. Dargan will not receive compensationDavid Willetts from the Company for his service on the Board or its committees.January 1, 2023 until March 17, 2023).


None of our current directors or executive officersdirector nominees currently have any family relationship with any other director or any executive officer. The table below sets forth the names and ages of each of the nominees for our Board (each of whom is an existing director) and the month and year they first joined our Board.
NameAgePositionJoined Board
NameTed Papapostolou44AgeDirector and Chairman of the BoardPositionJoined BoardMarch 2023
Dustin DeMaria34DirectorMarch 2024
Patricia A. Agnello64Chairman and DirectorSeptember 2018
Kapiljeet Dargan39DirectorApril 2021
Jaffrey (Jay) A. Firestone6764DirectorDirectorApril 2020
Jonathan Frates38DirectorMarch 2016
Hunter C. Gary46DirectorSeptember 2018
David L. Lamp6663Director, President and CEOPresident, CEO and DirectorJanuary 2018
Stephen Mongillo6259DirectorDirectorMay 2012
Mark J. Smith65DirectorMarch 2024
James M. Strock6764DirectorDirectorMay 2012


Detailed descriptions of the backgrounds, experience, and qualifications of our directors can be found in “Proposal 1” herein.(Elect Seven Director Nominees). As required by our Corporate Governance Guidelines, the Board periodically evaluates the composition of the Board, including the skill sets, diversity, leadership qualities, background, and experience of its directors. The Board believes its current structure and composition is best for the Company and its stockholders at this time.

13
12



Board Leadership


Our Corporate Governance Guidelines provide the Board with the flexibility to exercise its business judgment to choose the optimal leadership for the Board depending upon the Company’s particular needs and circumstances.

The Board is currently led by its Chairman, Ms. Agnello, and our CEO, Mr. Lamp.Papapostolou, who was appointed Chairman of the Board on March 17, 2023 after the resignation from the Board for personal reasons of the previous Chairman, Mr. Willetts. The Board believes that thisits leadership structure, which separates the Chairman and CEO roles, clarifies the individual roles and responsibilities of the Chairman and CEO, enhances accountability, and is the best structure for the Company at this time. However, the Board recognizes there is no single “right” approach, so the Board maintains the flexibility to make determinations as to the best leadership structure and allocation of responsibilities of the Chairman and CEO as circumstances warrant. In determining the appropriate leadership structure, the Board considers, among other factors, the current composition and dynamics of the Board and the challenges and opportunities specific to the Company.


Director Qualifications and Nominations


The Board seeks a diverse group of directors who have attributes necessary to create a cohesive and effective Board, including high personal and professional ethics, integrity and values, vision and long-term strategic perspective, experience in similar industries, practical judgment, the ability to devote significant time to serve on our Board and its committees, and a commitment to representing the long-term interests of all of our stockholders. The Board believes its members should possess a combination of skills, professional experience, and diversity of backgrounds and perspectives necessary to oversee our business.


As a result of IEP’s control of a majority of our outstanding common stock, IEP ultimately controls the election of all of the members of our Board. Consequently, our Board has deemed it appropriate not to maintain a formal policy with respect to the review of potential nominees or to charge the Nominating and Corporate Governance Committee (the “Governance Committee”) with the nomination of directors. However, all of our directors ultimately participate in the review of potential nominees to our Board. In 2021,2024, the Board reviewed the qualifications, skills, backgrounds, and experience of our directors and director nominees, both individually and in the broader context of the Board’s overall composition and our current and anticipated future needs.needs, as well as the vote of our stockholders from our 2023 Annual Meeting, in which stockholders overwhelmingly voted for each of our 2023 nominees, the majority of which are nominees for the 2024 Annual Meeting.


The Board may consider candidates recommended by stockholders, as well as candidates recommended by other sources such as other directors or officers, third-party search firms, or other appropriate sources. If a stockholder wishes to recommend a candidate for director for election at the 20222025 Annual Meeting of Stockholders, it must follow the procedures described below under “2022“2025 Stockholder Proposals and Director Nominations.”


Director Independence and the “Controlled Company” Exemption


We are a controlled company under the rules of the NYSE and, as a result, we qualify for and rely on exemptions from certain requirements of the NYSE. Under the rules of the NYSE, a listed company is a controlled company when more than 50% of the voting power is held by an individual, a group, or another company. Our Board has determined that we are a controlled company because Carl C. Icahn indirectly controls approximately 70.8%66.3% of our outstanding common stock.


Due to our status as a controlled company, we are relying on exemptions from the NYSE rules that require our Board be comprisedcomposed of a majority of independent directors, as defined under the rules of the NYSE. Although not required by the NYSE, the Board does maintain a Compensation Committee and a Governance Committee, which are not (and are not required to be) comprisedcomposed solely of independent directors.


The controlled company exemption does not modify the independence requirements for the Audit Committee. The Sarbanes-Oxley Act of 2002 (as amended, the “Sarbanes-Oxley Act”) and NYSE rules require that our Audit Committee be composed entirely of independent directors. The members of the Audit Committee are Mr. Mongillo, who serves as Chairman of the committee, and Messrs. Firestone and Strock. Mr. Alexander was a memberAll members of the Audit Committee up to April 5, 2020. All members were affirmatively determined by our Board to be “independent” and “financially literate” under the rules and regulations of the NYSE and the SEC applicable to audit committee members under the Securities and Exchange Act of 1934, as amended (the “Exchange Act”), during their time of service. In addition, Mr. Mongillo was further affirmatively determined to be an “Audit Committee Financial Expert” under the rules and requirements of the NYSE.

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Board Oversight and Meetings


The Board oversees the business of the Company, which is conducted by the Company’s officers and employees under the direction of the CEO. The Board performs a number of specific functions either directly or through its committees, including (among others):
Reviewing, approving, and monitoring financial and business strategies, risks, and major corporate actions;
Selecting, evaluating, and compensating the CEO and other executive officers of the Company;
Reviewing the Company’s business results and compliance with its public disclosure obligations; and
Overseeing the Company’s human capital and ESG initiatives.initiatives, and cybersecurity risk.


Members of the Board are kept informed about our Company’s business by members of the Company’s management. The full Board is also advised of actions taken by the various committees of our Board by the chairmen of those committees.at least quarterly. Directors have access to all of our books, records, and reports, and members of management are available at all times to answer their questions. Management also communicates with the various members of our Board on an informal basis, as needed, to effectively oversee the activities of ourthe Company.


The Board met six times and acted by written consent six times in 2020. All of the directors who served during 2020 attended at least 75% of the total meetings of the Board and each of its committees on which such director served, except for Mr. Alexander, who attended one-quarter of the meetings of the Board and of each of the committees on which he served until his passing on April 5, 2020. In addition, while we do not have a policy regarding attendance at the annual meeting of stockholders, all director nominees are encouraged to attend the Annual Meeting. In 2020, four directors attended our virtual annual meeting of stockholders.

Meetings of Non-Management Directors and Executive Sessions

To promote open discussion among non-management directors, we schedule regular executive sessions in which our independent directors meet without management participation. During 2020, four of our directors were independent (Messrs. Alexander, Firestone, Mongillo, and Strock) and all of our directors were non-management directors, except for Mr. Lamp, our CEO. Currently, we do not have a lead independent director. Our independent directors met five times in executive session during 2020. Mr. Mongillo presides over executive sessions held by our independent directors.

Risk Oversight


We believe that our governance processes provide rigorous Board oversight of the Company and its management. The Board considers oversight of CVR Energy’s risks and risk management activities to be a responsibility of the entire Board, though the Board also delegates certain risk oversight to certain of its committees including these standing committees:

which regularly report on such areas of oversight.
Board of Directors

Overall responsibility for oversight of Company risks.
Delegates responsibility for managing certain risks to its committees with regular reporting.
Audit Committee

Risk Oversight Areas
Compensation Committee

Risk Oversight Areas
Governance Committee

Risk Oversight Areas
EH&S Committee

Risk Oversight Areas
Financial exposure, insurance, legal, compliance, financial statements and reporting, technology and cybersecurity, and ESG governance initiativesCompensation and benefits policies and programs, succession, executive performance, clawback, and ESG social initiativesCorporate governance, Code compliance, Board and committee performance, and ESG governance initiativesEnvironmental, health and safety policies, programs, procedures, regulations, compliance and initiatives, and ESG environmental initiatives


The Board’s role in risk oversight includes receiving regular reports from management on areas of material risk to the Company or to the success of a particular project or endeavor under consideration, including operational, financial, legal and regulatory, cyber, strategic, and reputational risks. The full Board (or the appropriate committee, in the case of risks that are under the purview of a particular committee) receives these reports from the appropriate members of management to enable the Board (or committee) to understand the Company’s risk identification, risk management, and the steps management has taken to monitor and control such exposures, including the periodic review of new and emerging risks. When a report is vetted at the committee level, the chairman of that committee or their designee subsequently reports on the matter to the full Board. This enables the Board and its committees to coordinate the
15


Board’s risk oversight role. The Board also believes that risk management is an integral part of CVR Energy’s annual strategic planning process, which addresses, among other things, long-term risks and opportunities. The Company maintains an Enterprise Risk Committee composed of members of management with responsibility for each business unit and risk area of the Company. The Enterprise Risk Committee reports at least quarterly to the Board or its committees, as applicable.


The Company is committed to conducting business in a safe and environmentally sensitive manner that promotes sustainable environmentssustainability and respects community values, while staying true to its missionour objectives of providing superior performance, profitable growth, resilience, adaptability and stockholder value. In recognition of the importance of ESG principlesmaximizing returns to our business, we have commissioned ainvestors. A steering committee comprisedcomposed of members
14


of our management team to lead, formalizeleads and directdirects the execution of the Company’s ESG initiatives and is charged with highlighting our Board, based onESG initiatives and performance, including through the recommendationspublication of management and the Audit, Compensation, Governance and EH&S Committees, recently updated the charters of the committees and our Corporate Governance Guidelines to add2022 ESG risk oversight as a responsibility of each Committee and the Board.Report.


The CEO’s membership on, and collaboration with, the Board allows him to gauge whether management is providing adequate information for the Board to understand the interrelationships of our various businesses and risks. He is available to the Board to address any questions from other directors regarding management’s ability to identify and mitigate risks and weigh them against potential rewards.


Communications with DirectorsMeetings and Attendance


StockholdersThe Board met six times and other interested parties wishing to communicate with our Board may send aacted by written communication addressed to:
CVR Energy, Inc.
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
Attention: General Counsel

Our General Counsel will forward all appropriate communications directly to our Board or to any individual director orconsent six times in 2023. Each of the directors depending uponwho served during 2023, attended at least 75% of the facts and circumstances outlined in the communication. Any stockholder or other party who is interested in contacting only the independent directors or non-management directors as a group or the director who presides over thetotal meetings of the Board and committees on which such director served during their respective tenure. In addition, while we do not have a policy regarding attendance at the annual meeting of stockholders, all director nominees are encouraged to attend the Annual Meeting. In 2023, five directors attended our virtual annual meeting of stockholders.

To promote open discussion among non-management and independent directors, orwe schedule regular executive sessions in which our independent directors and non-management directors may also send written communications to the contact abovemeet without management participation. During 2023, three of our directors were independent (Messrs. Firestone, Mongillo, and should stateStrock) and all of our directors were non-management directors, except for whom the communication is intended.Mr. Lamp, our CEO. While we do not currently have a lead independent director, Mr. Mongillo presides over executive sessions held by our independent and non-management directors. Our independent directors met nine times in executive sessions during 2023.


Committees of the Board


Our Board has five main standing committees: the Audit Committee, the Compensation Committee, the Governance Committee, the Environmental, Health & Safety (“EH&S&S”) Committee, and the Special Committee. Any standing committee with a written charter reviews the adequacy of such charter periodically or annually, as applicable, in addition to evaluating its performance and reporting to the Board on such evaluation. The charter for each of these committees (except the Special Committee, which does not have a charter) is posted on our website at www.cvrenergy.comwww.CVREnergy.com under the heading “Investor Relations” and the subheading “Corporate Governance.” The function of each committee is described in greater detail below.

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Audit Committee
Met 4 times in 20202023


Acted by Written Consent 2 times in 2023

Current Members:
Stephen Mongillo*†,Mongillo, Chairman(1)
Jaffrey A. Firestone*Firestone (2)
James M. Strock*Strock (2)






*Independent and Financially
Literate
†Audit Committee Financial
Expert



Primary Responsibilities:
Oversees and reviews with management, the independent auditor, and internal auditor the integrity of the Company’s financial statements, financial reports, and other financial information
Oversees and reviews the integrity and adequacy of the Company’s auditing, accounting and financial reporting processes, and systems of internal controls for financial reporting regarding finance, accounting, reporting, and critical accounting policies and practices
Assists with Board oversight of the Company’s compliance with legal and regulatory requirements, including internal controls designed for that purpose and financial and related risks
Oversees and reviews the independence, qualifications, and performance of the Company’s independent auditor including fees related thereto
Oversees the performance of the Company’s internal audit function, including the budget and staffing thereof
Reviews and discusses with management potential significant risks to the Company and risk mitigation efforts including
Reviews the Company’s information technology systems and associated risks and controls relating to information technologybusiness continuity, data privacy and cybersecurity, controlsand contingency planning
Assists the Board in its oversight of the governance portions of the Company’s ESG initiatives including the Company’s Code of Ethics and Business Conduct, anti-bribery and anti-corruption programs and of the overall risks relating to such ESG initiatives
Prepares the Audit Committee report that the SEC rules require to be included in the Company’s annual proxy statement
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Acted by Written Consent 1 time in 2020
Compensation Committee
Met 2 times in 20202023


Acted by Written Consent 3 times in 2023

Current Members:(3) (4)
Hunter C. Gary,Dustin DeMaria, Chairman
Jonathan FratesJaffrey A. Firestone (2)
Ted Papapostolou










Primary Responsibilities:
Reviews, amends, modifies, adopts, and oversees the incentive compensation plans, equity-based compensation plans, qualified retirement plans, health and welfare plans, deferred compensation plans, and any other benefit plans, programs or arrangements sponsored or maintained by the Company
Evaluates the performance of our executive officers and, in connection therewith, reviews and determines, or recommends to the Board, the annual salary, bonus, equity-based compensation, and other compensation, incentives and benefits of our executive officers (other than compensation and benefits provided by one of its affiliates)
Reviews and approves any employment, consulting, change-in-control, severance or termination, or other compensation agreements or arrangements with our executive officers
Reviews and makes recommendations to the Board with respect to the compensation of non-employee directors or any plans or programs relating thereto
Reviews and discusses the Compensation Committee Report and the Compensation Discussion and Analysis and recommends to the Board their inclusion in the Company’s Proxy Statement
Assists the Board in assessing any risks to the Company associated with compensation practices and policies
Assists the Board in its oversight of the social portions of the Company’s ESG initiatives including diversity, inclusion and human rights strategies, commitments, and reporting
Acted by Written Consent 4 times in 2020Oversees and administers the Company’s Policy for the Recovery of Erroneously Awarded Compensation
Governance Committee
Met 1 time in 20202023


Current Members:(3)
Jonathan Frates, Chairman
Stephen Mongillo
James M. Strock, Chairman (2)
Stephen Mongillo (1)
Ted Papapostolou
Primary Responsibilities:
Reviews the Company’s governance policies including Corporate Governance Guidelines and any requests for waivers thereunder
Oversees the annual self-assessment of the Board and its committees
Assists the Board in oversight of governance and related risks
Reviews and makes recommendations on any stockholder proposals
Leads director orientation and continuing education
Assists the Board in its oversight of the governance portions of the Company’s ESG initiatives including the Company’s governance practices and reputation
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EH&S Committee
Met 1 time2 times in 20202023


Current Members:(4)
James M. Strock, Chairman(2)
Patricia A. Agnello
Jaffrey A. Firestone(2)
Mark J. Smith (5)
Primary Responsibilities:
Oversees the establishment, administration and effectiveness of EH&S policies, programs, procedures, and initiatives
Assists the Board in oversight of risks relating to EH&S, including climate-related risks
Evaluates the Company’s contingency planning and emergency response preparedness
Assists the Board in its oversight of the environmental, health, safety, and security portions of the Company’s ESG initiatives including the Company’s environmental, health, safety and security risks, opportunities, policies, and reporting, including those related to climate change and sustainability
Special Committee
Met 1 time
Acted by Written Consent 20 times in 20202023


Current Members:
Jonathan Frates (1)
Stephen Mongillo (2)(3)
David L. Lamp
Stephen Mongillo (1)
Ted Papapostolou
Primary Responsibilities:
Evaluates and approves matters arising during the intervals between Board meetings
Exercises approval authority delegated by the Board
Acted by Written Consent 26 times in 2020
(1) On April 20, 2021, followingIndependent, Financially Literate & Audit Committee Financial Expert
(2)Independent & Financially Literate
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(3)During 2023, Mr. Cho’sWilletts served as a member of the Compensation, Governance and Special Committees until his resignation from the Board and allits committees on March 17, 2023.
(4)During 2023 and until his resignation from the Board and its committees on March 15, 2024, Mr. Gary served as a member of the committees on which he served, Mr. Frates was re-appointed to the Special Committee.Compensation and EH&S committees.
(2) Mr. Mongillo was appointed to the Special Committee on May 6, 2020, replacing Mr. Frates.(5)Independent


Compensation Committee Interlocks and Insider Participation


During 2020,As of December 31, 2023, the Compensation Committee was comprisedcomposed of Messrs. Gary and Frates.Papapostolou, each a non-management director who was (and remains) an officer and/or an employee of IEP, and Mr. Firestone, an independent director. During 2023, one other non-management director affiliated with IEP also served on the Compensation Committee (Mr. Willetts from January 1, 2023 until March 17, 2023). As of March 17, 2023, Mr. Willetts was replaced on the Compensation Committee by Mr. Papapostolou, a non-management director who is an officer and/or an employee of IEP. On March 15, 2024, Mr. Gary resigned from the Board and its committees, including the Compensation Committee, and Mr. DeMaria, who is a non-management director employed by IEP, was appointed to the Compensation Committee on March 17, 2024. None of thethese current or former members of the Compensation Committee during 2020 have, at any time, been an officer or employee of the Company and none have any relationship requiring disclosure under Item 404 of Regulation S-K under the Exchange Act. No interlocking relationship exists between the Board or Compensation Committee and the board of directors or compensation committee of any other company.


Communications with Directors

Stockholders and other interested parties wishing to communicate with our Board may send a written communication addressed to:
CVR Energy, Inc.
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
Attention: General Counsel & Secretary

Our General Counsel and Secretary will forward all appropriate communications directly to our Board or to any individual director or directors, depending upon the facts and circumstances outlined in the communication. Any stockholder or other party who is interested in contacting only the independent directors or non-management directors as a group or the director who presides over the meetings of the independent directors or non-management directors may also send written communications to the contact above and should state for whom the communication is intended.

DIRECTOR COMPENSATION


Director Compensation Program


TheIn October 2022, the Board, upon the recommendation of the Compensation Committee, elected to keep the compensation the Company payspaid to its directors who are not officers or employees of CVR Energy or its affiliates (including IEP) (“Non-Employee Directors”) is designed to attract and retain nationally recognized, highly qualified directors to lead the Company and to be demonstrably fair to both the Company and its Non-Employee Directors, taking into consideration, among other things, the time commitments required, for service on the Board and its committees. In developing Non-Employee Director compensation, the Board considers the factors set forth above, and relies upon its experience and judgment. Non-Employee Director compensation generally includes an annual cash retainer for service as a director, a separate cash retainer for service as a member or chairman of a committee, and reimbursement of certain travel and director education expenses.

In December 2019, the Board considered these goals and the compensation paid to such Non-Employee Directors for 2019, and upon recommendation of the Compensation Committee, elected to keep such compensation for 20202023 the same as 2019.it has been since 2018. During 2020,2023, the Non-Employee Directors received the following annual director fees:compensation:
An annual cash retainer of $50,000, payable in quarterly installments;
An annual cash retainer for service as a committee Chairman or as a member of, of $5,000 and $1,000, respectively, payable in quarterly installments; and
Reimbursement offor out-of-pocket costs incurredexpenses in connection with attending meetings of the Board and its committees and for director-related education expenses up to a maximum amount of $1,500 in director-related education expenses. per year.


No otherDuring 2023, only our directors (including non-management directors affiliated with IEP) receive anywho are not employees of either CVR Energy, IEP, or their affiliates, Messrs. Firestone, Mongillo, and Strock, received compensation for their service on the Board or its committees, though they arecommittees. Each such individual was entitled to reimbursement of certain travel expenses.expenses incurred in connection with their service on the Board and its committees.


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The following table reflectssets forth the compensation earned by or paid to each Non-Employee Director for the year ended December 31, 2020.2023:
NameFees Earned or
Paid in Cash
All Other CompensationTotal
Bob G. Alexander 1$13,714 $— $13,714 
Stephen Mongillo 257,654 568 58,222 
James M. Strock57,000 1,340 58,340 
Jaffrey (Jay) A. Firestone 337,000 — 37,000 
Name
Fees Earned or
Paid in Cash (1)
All Other CompensationTotal
Jaffrey (Jay) A. Firestone (2)
$53,000 $— $53,000 
Stephen Mongillo57,000 — 57,000 
James M. Strock (3)
61,000 — 61,000 

1 Mr. Alexander served on the Board, Audit Committee and EH&S Committee until his passing on April 5, 2020, and as a result, the amounts(1)Amounts reflected in this table are proratedcolumn represent the annual retainer fees for his term of service.
2Mr. Mongillo was appointed to the Special Committee on May 6, 2020, andservices as a result the amounts reflecteddirector, including those associated with committee membership and for service in this table are pro-rated based on his term of service thereon.chair positions.
3Mr. Firestone was appointed to the Board, Audit Committee and EH&S Committee on April 15, 2020, and as a result, the amounts reflected in this table are prorated for his term of service. (2)Mr. Firestone’s fees were paid in the Canadian dollar equivalent of $37,000$53,000 USD based on the Bank of Canada rate for the day prior to entering each installment transaction in the payment system.
(3)Mr. Strock’s fees were paid to Serve to Lead, Inc., where he serves as the Chief Executive Officer and is the sole shareholder.
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PROPOSAL 1
ELECTION OF EIGHT DIRECTORS NAMED IN THIS PROXY STATEMENTELECT SEVEN DIRECTOR NOMINEES


Nominees
THE BOARD UNANIMOUSLY RECOMMENDS
THAT YOU VOTE FOR THE FOLLOWING DIRECTOR NOMINEES:
Ted PapapostolouDustin DeMaria Jaffrey A. FirestoneDavid L. Lamp
Stephen MongilloMark J. SmithJames M. Strock
At
Our Board oversees the management of our business and has fixed the number of directors on the Board at seven. Directors are elected annually at our Annual Meeting, stockholders of record as of the Record Date are requested to elect Ms. Agnello andMeeting. Our current directors, Messrs. Dargan,Papapostolou, DeMaria, Firestone, Frates, Gary, Lamp, Mongillo, Smith, and Strock (collectively, the “Director Nominees” and individually a “Director Nominee”), stand for election at this 2024 Annual Meeting, to serve on our Board until the 20222025 Annual Meeting of Stockholders or until their successors are elected and qualified. Each

Recommendation of the nomineesBoard

Our Board recommends that stockholders vote “FOR ALL” Director Nominees. Each Director Nominee has indicated his or her willingness to serve as a director, if elected. If for any reason any of the nomineesDirector Nominees should become unable to serve as a director prior to the Annual Meeting, the proxy holders may vote for the election of a substitute nominee designated by the Board, or the Board may reduce its size.

The Director Nominees for this year’s election bring valuable diversity to the Board in terms of industries represented, experience, and tenure, factors which we consider holistically when evaluating Board diversity. The Board believes each director who has been nominated is qualified to serve as a director due to the valueexperience summarized below in the Director Nominee Skills and Experience Matrix and their biographies that follow, among other experience. The key skills identified below are those that the Board has determined to be important in light of his or her experiences, qualifications, attributes,Company’s business and skills as noted below.strategic goals.

THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR THE ELECTION OF EACH OF THE FOLLOWING NOMINEES:


Director Nominee Skills and Experience Matrix
NomineeKey Skills / ExperiencePrincipal Occupation, ExperiencePapapostolouDeMariaFirestoneLampMongilloSmithStrock
Public Companyüüüüüüü
Executive Leadershipüüüüüü
Finance & Accountingüüüüü
Legal / Regulatory / Complianceüüüü
Human Resources / Executive Compensationüüüüü
Risk Managementüüüüüü
Industry / Operationsüü
Information Technology / Cybersecurityüüü
ESG / Sustainability / EH&Süüüü

Our Director Nominees have a wide range of additional skills and experience not mentioned above, which they will bring to their role as directors. Additionally, the lack of a checkmark for a particular skill does not mean that the Director Nominee does not possess that skill or experience, and instead the presence of a checkmark indicates that the skill is a core competency of that Director Nominee. The skills and experiences of our Director Nominees are further described in their biographies on the following pages.

19


DIRECTOR NOMINEES:1

Ted Papapostolou
Director, Chairman of the Board
Age: 44Key Skills and Qualifications 4Expertise:
Patricia A. Agnello
Chairman and Director since: 2023
üPublic Company
Age 64üExecutive Leadership

üFinance & Accounting
ü Legal/Regulatory/Compliance
Currentü Human Resources/Executive Compensation
ü Risk Management
Career Highlights:
Board Committees:
Compensation
Governance
Special
❖ Icahn Enterprises L.P., Chief Financial Officer (since 2021); Chief Accounting Officer (2020 -2023); progressive accounting positions (2007-2020)
Other Public Company Directorships:Directorships (current): Icahn Enterprises L.P. (since 2021); Viskase Companies, Inc. (since 2020)
Other Professional Experience and Community Involvement: Expertise in accounting and audit practices and serving in key leadership roles with public entities
Education: Hofstra University, B.B.A.; Saint John’s University, MBA

CVR Energy, Inc. (2018 to Current)
Dustin DeMaria
Director
Age: 34Key Skills and Expertise:

CVR Partners, LP (2021 to Current)Director since: 2024
üPublic Company
Sandridge Energy, Inc. (2020 to Current)üFinance & Accounting
ü Information Technology/Cybersecurity
Career Highlights:
Board Committees:

FormerCompensation, Chair
❖ Icahn Enterprises L.P., Financial Analyst (since 2022)
❖ Moelis & Company, Investment Banking Associate (2019 - 2021)
Other Public Company Directorships:
American Railcar Industries,Directorships (current): Viskase Companies, Inc. (2017 to 2018)(since 2023)
Ms. Agnello has served as our director since 2018,
Other Professional Experience and as our Chairman since April 2021. Ms. Agnello has been the Chief Human Resources Officer & Employment Counsel for IEP since March 2020, and for its former affiliate, Insight Portfolio Group LLC (“ISG”), an entity affiliated with Carl C. Icahn, from May 2007 until February 2020. In this capacity, Ms. Agnello provides human resources advice to a variety of companies with which Mr. Icahn has a relationship. Prior to joining ISG, Ms. Agnello held senior human resources positions at Integro Insurance Brokers, North Fork Bank, Marsh & McLennan Companies, Inc., PriceWaterhouseCoopers, and Exxon Corporation. Ms. Agnello has been a director of: the general partner of CVR Partners, LP (“CVR Partners”), a nitrogen fertilizer manufacturer, since March 2021; New Seabury Resources Management, Inc. (“New Seabury”), a company engagedCommunity Involvement: Expertise in management roles in the business of owning, acquiringfinance and managing real properties, sinceinvestment banking industry; Director, Zipari, Inc. (May 2021 - February 2021; Vivus, Inc. (“Vivus”), a biopharmaceutical company, since December 2020; SandRidge Energy, Inc. (“SandRidge”), an oil and natural gas company with a principal focus on exploration and production activities, since June 2020; Icahn Automotive Group LLC (“IAG”), an automotive parts installer, retailer and distributor, since 2017; TER Holdings I, Inc. (“TER Holdings”) (formerly known as Trump Entertainment Resorts, Inc.), a company engaged in real estate holdings, since February 2016; and PSC Metals, LLC (“PSC”), a metal recycling company, since 2012. Ms. Agnello was previously a director of American Railcar Industries, Inc. (“ARI”), a railcar manufacturing company, from November 2017 until December 2018. Ms. Agnello received a J.D. from St. John’s2022)
Education: Roanoke College, B.B.A; Cornell University, School of Law, an MBA in Human Resources Management from Adelphi University, and a BA in Liberal Arts from Marymount Manhattan College. Based on Ms. Agnello’s extensive experience in human resources, business acumen and extensive board experience, we believe Ms. Agnello’s skills qualify her to serve as our Chairman and director.

4ACF, ARI, CVRR, Cadus,
1 Each of CVR Partners, FDML, Ferrous, IAG, Icahn Capital, IA, IEHAP,CVR Refining, LP, IEP, ISG, New Seabury, PBYS, PSC, TEI, TER Holdings, Viskase Vivus, VLTC,Companies, Inc., and XO eachVoltari Corporation are or previously were indirectly controlled by Mr. Carl C. Icahn. Mr. Icahn also has or previously had a non-controlling interest in both HercEnzon Pharmaceuticals, Inc. and SandRidge through the ownership of securities.Sandridge Energy, Inc.
20



Jaffrey (Jay) A. Firestone
Independent Director
Age: 67Key Skills and Expertise:
Kapiljeet Dargan
Director since: 2020
üPublic Company
Age 39üExecutive Leadership

üFinance & Accounting
ü Human Resources/Executive Compensation
CurrentüRisk Management
üESG/Sustainability/EH&S
Career Highlights:
Board Committees:
Audit
Compensation
EH&S
❖ Prodigy Pictures, Inc., Chairman and Chief Executive Officer (since 2006)
❖ Over 18-years of experience in senior executive roles in the technology, energy and petroleum, chemical, and other industries
Other Public Company Directorships:Directorships (current): Enzon Pharmaceuticals, Inc. (since 2022); Sandridge Energy, Inc. (since 2021)
Other Public Company Directorships (within past 5 years): Voltari Corporation (2011-2019)
Other Professional Experience and Community Involvement: Experience in financial reporting and service on other boards; Former Director, The Academy of Canadian Cinema and Television; Former Director, The Academy of Television Arts and Sciences International Council
Education: McMasters University, Bachelor of Commerce

David L. Lamp
Director, President and Chief Executive Officer
Age: 66Key Skills and Expertise:

Director since: 2018
ü Public Company
ü Executive Leadership
ü Legal/Regulatory/Compliance
ü Human Resources/Executive Compensation
ü Risk Management
ü Industry/Operations
ü ESG/Sustainability/EH&S
Career Highlights:
Board Committees:
Special
CVR Energy, Inc. (2021 to Current)
Viskase Companies, Inc. (2021 to Current)
CVR Partners, LP (2021 to Current)

, President & CEO (since 2017)
Mr. Dargan has served as our director since April 2021. Mr. Dargan has been Tax Counsel for IEP❖ Executive Chairman (since 2017) and its affiliates since June 2018. Mr. Dargan previously was an associate in the tax departmentChairman of the law firm Willkie Farr & Gallagher from October 2013 to June 2018. Mr. Dargan is currently a directorBoard of Directors (2018-2023) of the general partner of CVR Partners and Viskase Companies, Inc. (“Viskase”), a meat-casing company. Mr. Dargan received a B.S. in Computer Science and Quantitative Economics from Tufts University, a J.D. from UCLA School of Law, and an LL.M. in Taxation from New York University School of Law. We believe Mr. Dargan’s experience in complex tax and legal matters qualify him to serve as our director.
Jaffrey A. Firestone
Director
Age 64

Current Public Company Directorships:
CVR Energy, Inc. (2020 to Current)

Former Public Company Directorships:
Voltari Corporation (2011 to 2019)
Mr. Firestone has served as our director since April 2020. Since 2006, Mr. Firestone has served as Chairman and Chief Executive Officer at Prodigy Pictures Inc., a leader in the production of quality film, television and cross-platform media. Previously, Mr. Firestone established Fireworks Entertainment in 1996 to produce, distribute and finance television programs and feature films. In 1998, Fireworks Entertainment was acquired by CanWest Global Communications Corporation, and Mr. Firestone was named Chairman and Chief Executive Officer and oversaw the company’s Los Angeles and London based television operations as well as its Los Angeles feature film division, Fireworks Pictures. In addition, Mr. Firestone oversaw the company’s interest in New York based IDP Distribution, an independent distribution and marketing company formed by Fireworks Entertainment in 2000 as a joint venture with Samuel Goldwyn Films and Stratosphere Entertainment. Mr. Firestone previously served on the board of directors and the audit committee of Voltari Corporation (“VLTC”), a company in the business of acquiring, financing and leasing commercial real properties from 2011 to 2019. Mr. Firestone has led two successful initial public offerings and, in 1998, was nominated for entrepreneur of the year. Mr. Firestone obtained a degree in commerce from McMasters University. Mr. Firestone has extensive experience in financial reporting, which, in addition to his past service on other boards, enables him to advise our Board on a range of matters, including financial matters, and makes him qualified to serve as our director.
Jonathan Frates
Director
Age 38

Current Public Company Directorships:
CVR Energy, Inc. (2016 to Current)
CVR Partners, LP (2016 to Current)
Viskase Companies, Inc. (2016 to Current)
SandRidge Energy, Inc. (2018 to Current)
Herc Holdings Inc. (2019 to Current)


Former Public Company Directorships:
American Railcar Industries, Inc. (2016 to 2018)
CVR Refining, LP (2016 to 2019)
Mr. Frates has served as our director since 2016. Mr. Frates has been a managing director at IEP since June 2018. From November 2015 until June 2018, Mr. Frates served as a Portfolio Company Associate at IEP. Prior to joining IEP, Mr. Frates served as a Senior Business Analyst at First Acceptance Corp. and as an Associate at its holding company, Diamond A Ford Corp. Mr. Frates began his career as an Investment Banking Analyst at Wachovia Securities LLC. Mr. Frates has served as: a director of Vivus since December 2020; a director of Herc Holdings Inc. (“Herc”), an international provider of equipment rental and services, since August 2019; Chairman of the Board of Directors of SandRidge since June 2018; a director of Viskase since March 2016 and Chairman of its Board of Directors since October 2019; and a director of the general partner of CVR Partners since March 2016. Mr. Frates has also been a member of the Executive Committee of ACF Industries LLC (“ACF”), a railcar manufacturing company, since September 2018. Mr. Frates was previously: a director of Ferrous Resources Limited (“Ferrous”), an iron ore mining company, from December 2016 to July 2019; a director of ARI, from March 2016 to December 2018; and a director of the general partner of CVR Refining, LP (“CVRR”), an independent downstream energy limited partnership, from March 2016 to February 2019. Mr. Frates received a BBA from Southern Methodist University and an MBA from Columbia Business School. Mr. Frates’ significant board experience and broad financial background make him qualified to serve as our director.
21


Hunter C. Gary
Director
Age 46

Current Public Company Directorships:
CVR Energy, Inc. (2018 to Current)
Conduent Inc. (2020 to Current)

Former Public Company Directorships:
Federal-Mogul Holdings LLC (2012 to 2016)
Tropicana Entertainment Inc. (2010 to 2018)
Cadus Corporation (2014 to 2018)
XO Holdings (2011 to 2018)
CVR Refining, LP (2018 to 2019)
Herbalife Ltd. (2014 to 2021)
CVR Partners, LP (2018 to 2021)
Mr. Gary has served as our director since 2018. Mr. Gary has served as Senior Managing Director IEP and has been employed by IEP since November 2010. At IEP, Mr. Gary is responsible for monitoring portfolio company operations, implementing operational value enhancement and leading operational activities in areas including technology, merger integration, supply chain, organization transformation, real estate, recruiting, business process outsourcing, SG&A cost reduction, strategic IT projects, and executive compensation. At IEP, Mr. Gary has served in various roles, including President of IEP’s Real Estate segment since November 2013 and head of IEP’s Information Technology and Cybersecurity group since September 2015. Mr. Gary has served as President and Chief Executive Officer of Cadus Corporation (“Cadus”), a company engaged in the acquisition of real estate for renovation or construction and resale, from March 2014 to June 2018. Prior to both IEP and Cadus, Mr. Gary had been employed by Icahn Associates Corporation (“IA”) an affiliate of IEP, in various roles since June 2003, most recently as the Chief Operating Officer of Icahn Sourcing LLC, a group purchasing organization focused on leveraging the aggregated spend of its collective members. Mr. Gary has been a director of: Vivus since December 2020; Conduent Inc. (“Conduent”), a company providing business process outsourcing services, since 2020; IAG since February 2016; The Pep Boys - Manny, Moe & Jack (“PBYS”), an automotive parts installer and retailer, since February 2016; PSC, since May 2012; and WPH, since June 2007. Mr. Gary has also been a member of the Executive Committee of ACF since July 2015. Mr. Gary was previously a director of: the general partner of CVR Partners, from September 2018 to March 2021; Herbalife Nutrition Ltd. (“HLF”), a nutrition company, from April 2014 to January 2021; Ferrous, from June 2015 to August 2019; the general partner of CVRR from September 2018 to February 2019; Tropicana Entertainment Inc. (“TEI”), a company that is primarily engaged in the business of owning and operating casinos and resorts, from March 2010 to October 2018; Cadus from February 2014 to June 2018; XO Holdings, a provider of telecom services, from September 2011 to January 2018; IEH Auto Parts LLC (“IEHAP”), a distributor of automotive aftermarket parts, from June 2015 to May 2017; and Federal-Mogul Holdings Corporation (“FDML”), a supplier of automotive powertrain and safety components, from October 2012 to February 2016. Mr. Gary received his Bachelor of Science degree with senior honors from Georgetown University, as well as a certificate of executive development from Columbia Graduate School of Business. Mr. Gary’s extensive experience in operations and oversight matters for a variety of companies and service on other public company boards, enable him to advise our Board on a range of matters and qualifies him to serve as our director.
David L. Lamp
Director
Age 63

Current Public Company Directorships:
CVR Energy, Inc. (2018 to Current)
CVR Partners, LP (2018 to Current)

Former Public Company Directorships:
CVR Refining, LP (2018 to 2019)
Northern Tier Energy, LP (2013 to 2016)
Mr. Lamp has served as our director since 2018. Mr. Lamp has served as our President and Chief Executive Officer and as the Executive Chairman of the general partner of CVR Partners since December 2017, and as the Chairman of the board of directors of the general partner of CVR Partners since 2018. Mr. Lamp has more than 40 years❖ Over 40-years of technical, commercial and operational experience in the refining and chemical industries. He previously served as President and Chief Operating Officer ofindustries, including with Western Refining, Inc. (“WNR”), from 2016 until its sale to Andeavor in 2017; as President and Chief Executive Officer and a Director of the general partner of Northern Tier Energy L.P. from 2013 until its merger with WNR in 2016;LP (“NTI”), and as a Director of CVRR, from January 2018 to February 2019.. Mr. Lamp graduated from HollyFrontier Corporation
Other Public Company Directorships (current): CVR Partners, LP (since 2018)
Other Public Company Directorships (within past 5 years): CVR Refining, LP (2018-2019)
Education: Michigan State University, with a Bachelor of Science inB.S. Chemical Engineering. We believe Mr. Lamp’s extensive knowledge and experience in the refining and chemical industries, as well as his significant background serving in key executive roles at public and private companies, and strong leadership skills make him well qualified to serve as our director.Engineering

22
21



Stephen Mongillo
Independent Director
Age: 62Key Skills and Expertise:
Stephen Mongillo
Director since: 2012
Age 59

Current üPublic Company Directorships:
CVR Energy, Inc. (2012 to Current)
Icahn Enterprises L.P. (2020 to Current)

Former Public Company Directorships:
Herc Holdings, Inc. (2016 to 2018)üExecutive Leadership
Mr. Mongillo has served as our director since May 2012. Mr. Mongillo is currently the
ü Finance & Accounting
üRisk Management
Career Highlights:
Board Committees:
Audit, Chair
Governance
Special
❖ AMPF, Inc, Chairman and Chief Executive Officer of AMPF, Inc., a distributor of picture frame mouldings and supplies of which he is the principal shareholder. Mr. Mongillo is a private investor and currently serves as a director and member of the audit committee of IEP. From January 2008 to January 2011, Mr. Mongillo served as a Managing Director of Icahn Capital LP, the entity through which Mr. Icahn managed third-party investment funds. Prior to joining Icahn Capital LP, Mr. Mongillo worked at Bear Stearns for 10 years, most recently as a Senior Managing Director overseeing the leveraged finance group’s efforts in the healthcare, real estate, gaming, lodging, leisure, restaurant and education sectors. Mr. Mongillo has previously served as a director of Herc from 2016 to 2018. Mr. Mongillo received a B.A. from Trinity College and an M.B.A. from the Amos Tuck School of Business Administration at Dartmouth College. Based on Mr. Mongillo’s over 25 years(since 2012)
❖ Over 25-years of experience in the financial industry and his strong understanding of the complex business and financial issues encountered by large, complex companies we believe that Mr. Mongillo’s set of skills make him qualified to serve as our director.
Other Public Company Directorships (current): Icahn Enterprises L.P. (since 2020)
Other Professional Experience and Community Involvement: Equity Member, Manufactured Housing Partners LLC (since 2022); Managing Partner, Elkmont Capital (since 2011)
Education: Trinity College, B.A.; Dartmouth College, MBA

Mark J. Smith
Independent Director
Age: 65Key Skills and Expertise:
James M. Strock
Director since: 2024
Age 64

Current üPublic Company Directorships:
CVR Energy, Inc. (2012 to Current)üExecutive Leadership
üLegal/Regulatory/Compliance
üHuman Resources/Executive Compensation
Mr. Strock has served as our director since May 2012. Mr. Strock is the
ü Risk Management
ü Industry/Operations
ü Information Technology/Cybersecurity
ü ESG/Sustainability/EH&S
Career Highlights:
Board Committees:
EH&S
❖ Philadelphia Energy Solutions (PES) Liquidating Trust, Plan Administrator (since June 2020)
❖ Fulcrum Bioenergy, Inc., Chief Restructuring Officer (since April 2024)
❖ PES, Chief Executive Officer & Director (2018-2020)
❖ Over 40-years of experience in executive leadership and general management in petroleum refining and associated businesses
Other Professional Experience and Community Involvement: consultant in the energy industry (since April 2024); President Refining and Marketing, Western Refining, Inc. (2006-2017); Vice President of Operations, CITGO Petroleum Corp.
Education: Pennsylvania State University, B.S. Chemical Engineering; Oklahoma State University, MBA

22


James M. Strock
Independent Director
Age: 67Key Skills and Expertise:

Director since: 2012
üPublic Company
üExecutive Leadership
üFinance & Accounting
üLegal/Regulatory/Compliance
üHuman Resources/Executive Compensation
üRisk Management
üIndustry/Operations
üInformation Technology/Cybersecurity
üESG/Sustainability/EH&S

Career Highlights:
Board Committees:
Audit
Governance, Chair
EH&S, Chair
Serve to Lead Group, Inc., which he foundedChief Executive Officer (since 1997)
❖ Experienced executive in 1997. Serve to Lead Group, Inc. serves diverse sectors including: finance, manufacturing, transportation, technology, defense, aerospace, health care, real estate, chemicals, professional services, insurance, environmental safety and health, remediation, clean tech, sustainability, energy, and medical cannabis. Mr. Strock, individuallyenergy
Other Professional Experience and as part of various teams and organizations, serves various functions, including: management, project management, financing, sales and marketing, stakeholder engagement, public advocacy, communication (including new media), crisis communication, strategic planning, regulatory compliance, negotiation, mediation, facilitation, human resources, and training. Mr. Strock has served in senior executive and board positions in the public, private, and not-for-profit sectors. He served as Community Involvement: California’s founding Secretary for Environmental Protection and as Assistant Administrator for Enforcement (chief law enforcement officer)(Chief Law Enforcement Officer) of the U.S. Environmental Protection Agency. Mr. Strock isAgency; Served to Captain in the author of three books on leadership, management, and communication. He is a member of the Council on Foreign Relations and the Authors Guild. Mr. Strock holds an A.B. from United States Army Reserve-Judge Advocate general’s Corps (USAR-JAGC)
Education: Harvard College, and a J.D. fromB.A.; Harvard Law School. He served as captain in the USAR-JAGC. Based upon Mr. Strock’s extensive business and public service experience, which enable him to assist boards in meeting their responsibilities in various functions, we believe that Mr. Strock’s set of skills make him qualified to serve as our director.
School, J.D.



Vote Required

Please indicate your vote for Proposal 1 (Elect Seven Director Nominees). Your vote may be cast “FOR ALL” of the Director Nominees, “WITHHOLD ALL” of the Director Nominees, or “FOR ALL EXCEPT” with respect to one or more of the Director Nominees. If you withhold your vote with respect to any Director Nominee, your vote will have no effect on the election of such nominee.
23



EXECUTIVE OFFICERS


While the Board provides high-level strategy and guidance for the Company, our day-to-day activities are carried out by our executive officers. Our executive officers are appointed by the Board and act within the authorities granted by the Board and our organizational documents. In this report,Proxy Statement, we refer to the executive officers of our Company as our “executive officers.” The following table sets forth the names, positions, ages, background, experience, and qualifications of the current executive officers of ourthe Company, other than Mr. Lamp, who is listed under “Nominees”“Director Nominees” above. Mr. David L. Landreth served as an executive officer of the Company until his retirement in March 2021, following which, C. Douglas Johnson became an executive officer, holding the position of Executive Vice President and Chief Commercial Officer.


Name, Position and AgePrincipal Occupation, Experience and Qualifications
Tracy D. JacksonDane J. Neumann
Age 51Age: 40


Executive Vice President, and
Chief Financial Officer, (since 2018)Treasurer and Assistant Secretary
(since October 2021)
Ms. JacksonMr. Neumann has served as our Executive Vice President, and Chief Financial Officer and Assistant Secretary and as Executive Vice Presidentour Treasurer, and Chief Financial Officer ofin those same roles for our affiliate, the general partner of CVR Partners, since May 2018.October 2021 and February 2022, respectively. Prior to his current roles, Mr. Neumann served as our Interim Chief Financial Officer from August to October 2021, and as Vice President – Finance & Treasurer from June 2020 to October 2021, and in those same roles for the general partner of CVR Partners. He also served in various other roles within our finance organization since June 2018, including Vice President of Financial Planning & Analysis and Director of Projects & Controls. Mr. Neumann has nearly 15 years of experience in the refining and petrochemicals industry in areas relating to finance, accounting, business development, planning and analytics. Before joining CVR Energy, Ms. Jackson heldMr. Neumann served in various positions atroles of increasing responsibility for several formerly publicly traded refining and marketing entities, including with Andeavor (formerly Tesoro CorporationCorporation) and Tesoro Logistics LP, including vice president and controllerits affiliates from March 20152011 until October 2016, vice presidentJune 2018, including as director of financialcommercial business planning and analytics from September 2013 to March 2015, vice presidentJune 2017 until June 2018, and with WNR and NTI and certain of finance and treasurer from October 2010 to September 2013, and vice president of internal audit from May 2007 until September 2010. Ms. Jacksontheir affiliates. Mr. Neumann obtained her undergraduatea Bachelor of Business AdministrationScience in Finance and Accounting in 1993Political Science and a Master of Business Administration in May 2012an MBA from the University of Texas at San Antonio. Ms. JacksonMinnesota and is a Certified Public Accountant, a Certified Internal Auditor and Certified Information Systems Auditor.Accountant.
Mark A. Pytosh
Age 56Age: 59


Executive Vice President, President—Corporate Services (since
(since January 2018)
Mr. Pytosh has served as our Executive Vice President - Corporate Services since January 2018, as well as a Director and asthe President and Chief Executive Officer of our affiliate, the general partner of CVR Partners, LP since May 2014. Previously,2011 and 2014, respectively. Mr. Pytosh servedhas over thirty years of experience in senior executive roles, including as our Senior Vice President - Administration from October 2014 until December 2017. Mr. Pytosh served as executive vice president and chief financial officer, for Alberta, Canada-based Tervita Corporation, an environmental and energy services company, from 2010 until 2014; as senior vice president and chief financial officer for Covanta Energy Corporation, which owns and operates energy from waster power facilities, biomass power facilities and independent power plantswith various companies in the United States, Europe and Asia, from 2006 to 2010; and held various positions with Waste Services, Inc., an integratedfertilizer, petroleum refining, environmental, power, solid waste services company that operates in the United States and Canada, from 2004 to 2006, including executive vice president, from 2004 to 2006, and chief financial officer, from 2005 to 2006.investment banking industries. Mr. Pytosh has served as a director of the University of Illinois Foundation since 2007 and The Fertilizer Institute since 2015. Mr. Pytosh received a Bachelor of Science degree in chemistry from the University of Illinois, Urbana-Champaign.
Melissa M. Buhrig
Age 46Age: 48


Executive Vice President,
General Counsel and Secretary (since
(since July 2018)
Ms. Buhrig has served as our Executive Vice President, General Counsel and Secretary, and as Executive Vice President, General Counsel and Secretary ofin those same roles for our affiliate, the general partner of CVR Partners, since July 2018. Prior to joining CVR Energy, Ms. Buhrig served as executive vice president, general counsel, secretary and secretarycompliance officer of Delek US Holdings, Inc. and the general partner of Delek Logistics Partners, LP from October 2017 until June 2018 and heldprior thereto served in various positions with WNR from November 2005 until June 2017 including senior vice president - Servicesexecutive roles and as compliance officer from August 2016 until WNR’s acquisition by Andeavorfor WNR and NTI. Ms. Buhrig has nearly 24 years of legal and industry experience including in July 2017,the areas of mergers and executive vice president, general counsel, secretaryacquisitions, corporate governance, securities, compliance, litigation, regulatory matters, and compliance officer of the general partner of Northern Tier Energy, LP (a WNR affiliate) from March 2014 until August 2016.human resources. Ms. Buhrig received a Bachelor of Arts in Political Science from the University of Michigan and a Juris Doctorate with honors from the University of Miami School of Law.
24



Name, Position and AgePrincipal Occupation, Experience and Qualifications
C. Douglas Johnson
Age 56Age: 59


Executive Vice President and Chief Commercial Officer (since
(since March 2021)
Mr. Johnson has served as our Executive Vice President and Chief Commercial Officer since March 2021. Mr. Johnson has more than 3134 years of experience in the refining and petrochemicals industry in areas relating to crude, feedstock, product and process optimization, commercial activities, marketing, logistics and capital utilization. Prior to joining CVR Energy, he served as vice president, Asia for Marathon Petroleum Corporation (“Marathon”) and vice president, Asia with Andeavor (formerly known as Tesoro Corporation), which was acquired by Marathon in 2018. From 2004 to 2017, Mr. Johnson served in various roles with WNR and its affiliated companies, which was acquired by Andeavor in 2017, including as president of Western Refining Logistics, LP, a Delaware master limited partnership operating terminals, pipelines and other logistics assets, and as senior vice president, supply and trading. Prior to WNR,Andeavor, Mr. Johnson held various commercial and marketing roles with WNR, Western Refining Logistics, LP, ConocoPhillips, Tosco and BP.British Petroleum. Mr. Johnson received a Bachelor of Science in Management Science from Wright State University, with a concentration in statistics.
Matthew W. BleyMichael H. Wright, Jr.
Age 39Age: 53


Executive Vice President and Chief AccountingOperating Officer and
Corporate Controller (since 2018)(since January 2022)
Mr. BleyWright has served as our Executive Vice President and Chief Operating Officer since January 2022. Mr. Wright has nearly 35 years of experience in the refining and petrochemical industry, including refinery operations, capital project management, crude supply/logistics and refining industry consulting. Mr. Wright joined CVR Energy as a Project Manager in July 2019 and prior to his current role most recently served as our Vice President – Capital Projects from December 2019 to January 2022. Prior to joining CVR Energy, Mr. Wright served as Senior Consultant – Refining for Solomon Associates, an energy industry consulting firm, from September 2018 to July 2019, and in several senior roles with HollyFrontier Corporation, a publicly traded independent petroleum refiner, from 2005 to February 2018, including Vice President – Crude Supply from April 2015 to February 2018; Vice President and Refinery Manager of the Woods Cross Refinery from 2013 to 2015; and Vice President of Capital Projects from 2005 to 2013. Mr. Wright received both a Bachelor of Science in Mechanical Engineering and an MBA from the University of Utah.
Jeffrey D. Conaway
Age: 49

Vice President, Chief Accounting Officer and& Corporate Controller
(since August 2021)
Mr. Conaway has served as our Vice President, Chief Accounting Officer & Corporate Controller, and as Chief Accounting Officer and Corporate Controller ofin those same roles for our affiliate, the general partner of CVR Partners, since May 2018.August 2021. Prior to assuming those roles, Mr. Conaway served as our Director – Commercial & Operations Accounting, since August 2020. Mr. Conaway has nearly 25 years of experience in finance, accounting and auditing services. Before joining CVR Energy, Mr. Bley held the roles ofConaway served as assistant controller of reportingPatterson-UTI Energy, Inc., an oilfield services company, beginning in February 2019 and in various roles of increasing responsibility at CITGO Petroleum Corporation, a refiner, transporter and marketer of motor fuels, lubricants, and petrochemicals, since August 2010, including as senior advisor from March 2015November 2017 to April 2018, senior manager of financial reporting from September 2013 to March 2015, and manager of accounting research from May 2012 to September 2013 for Andeavor (formerly Tesoro).February 2019. Mr. Bley receivedConaway obtained a Bachelor of Science in Business Administration with a concentration in Accounting and a Master of Science in AccountingMBA from Trinity University in 2004 and 2005, respectively. In addition, he received an Master of Business Administration from BaylorAngelo State University and is a Certified Public Accountant.


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COMPENSATION DISCUSSION AND ANALYSIS


The followingIn this compensation discussion and analysis of compensation arrangements(“CD&A”) we provide stockholders with an overview of our namedcompensation philosophy, objectives, policies, and practices during 2023, as well as the factors considered by our Compensation Committee in making compensation decisions for our “named executive officers (defined below) for 2020officers” listed below in 2023. This CD&A should be read together with the compensation tables and related disclosures set forth below. This discussion containsCD&A may contain forward-looking statements that are based on our current plans, considerations, expectations, and determinations regarding future compensation actions. Our actualactions, and the future compensation actionsof our named executive officers may differ materially from the currently planned programs and payouts summarized in this discussion.


Named Executive Officers


This compensation discussion and analysis provides stockholders with an understanding of our compensation philosophy, objectives, policies, and practices in place during 2020, as well as the factors considered by our Compensation Committee in making compensation decisions for 2020. ItCD&A focuses on the compensation of persons who served as our CEO, our CFO, and our next three other most highly compensatednamed executive officers, which for 2020, including Mr. Landreth, who retired in March 2021 (the “named executive officers”):2023 include:

David L. LampPresident and CEOChief Executive Officer
Tracy D. JacksonDane J. NeumannExecutive Vice President, Chief Financial Officer, Treasurer and CFOAssistant Secretary
Mark A. PytoshExecutive Vice President - President—Corporate Services
Melissa M. BuhrigExecutive Vice President, General Counsel and Secretary
David L. Landreth
Michael H. Wright, Jr.Former Executive Vice President and Chief CommercialOperating Officer


Compensation Philosophy, Objectives and Processes


In establishing named executive officer compensation, our Compensation Committee generally seeks to compensate named executive officers in a way that meaningfully aligns their interests with the interests of our stockholders, including:to:
IncentivizingIncentivize important business priorities such as safety, reliability, environmental performance, and earnings growth;growth through variable compensation earned based on the achievement of related performance goals;
AligningAlign the named executive officers’ interests with those of our stockholders and stakeholders, including providing long-term economic benefits to the stockholder;
ProvidingProvide competitive financial incentives in the form of salary, bonuses, and benefits with the goal of retaining and attracting talented and highly motivated executive officers; and
MaintainingMaintain a compensation program whereby the named executive officers, through exceptional performance and incentive awards, have the opportunity to realize economic rewards commensurate with appropriate gains of other stockholders and stakeholders.


The Compensation Committee takes these main objectives into consideration when creating its compensation programs, setting each element of compensation under those programs, and determining the proper mix of the various compensation elements. Named executive officer compensation will generally include a mix of fixed elements, intended to provide stability, as well as variable elements, which align pay and performance, incentivizing and rewarding our named executive officers in years in which the Company achieves superior results.


The Compensation Committee also generally considers, among other factors, the success and performance of the Company, the contributions of named executive officers to such success and performance and the current economic conditions and industry environment in which the Company operates. From time to time, the Compensation Committee may utilize various tools in evaluating and establishing named executive officer compensation, including their own knowledge, experience, and judgment, as well as some or all of the following:
Input from Board members or management. The Compensation Committee may, from time to time, ask that certain members of the Board and/or management provide information and recommendations relating to named executive officer compensation. Such information typically includesinsight into the named executive officers’ roles and responsibilities, job performance, the Company’s performance generally and among the industry, and such other information as may be requested by the Compensation Committee.Committee, including recommendations relating to named executive officer compensation.
Market data and peer comparisons. The Compensation Committee may utilize market data derived fromthat describes common executive pay practices and the executive pay practices of industry companies, which may be supplemented with broad-based compensation survey data, or survey data from the energy, refining, and chemical industries that influence the competitive market for executive talent, and/or from companies comparable to the Company in terms of size and scale.
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The analysis, judgment, and expertise of an independent compensation consultant. The Compensation Committee may, from time to time, engage an independent outside compensation consultant periodically to provide a comprehensive analysis and recommendations regarding named executive officer compensation, although a compensation consultant was not engaged in 2020.2023.


Compensation Risk Assessment


Our Compensation Committee periodically evaluates and considers risks ofrelated to our compensation policies and practices as generally applicable to employees, including our named executive officers. Our Compensation Committee believes that our policies and practices do not encourage excessive or unnecessary risk-taking and are not reasonably likely to have a material adverse effect on us. In reaching this conclusion, our Compensation Committee reviewed and discussed the design features, characteristics, and performance metrics of our compensation programs and approval mechanisms for compensation and observedbelieves the following factors, among others, which the Compensation Committee believes reducesmitigate any potential risks associated with our compensation policies and practices:
Our compensation policies and practices are centrally designed and administered;
Our compensation is balanced among (i) fixed components likesuch as base salary and benefits, (ii) variable incentives tied to a mix of financial and operational performance, and (iii) variable long-term incentives;
The Compensation Committee has discretion to adjust variable performance-based awards when appropriate based on our interests and the interests of our stockholders; and
CertainWe have a Policy for the Recovery of Erroneously Awarded Compensation (“Clawback Policy”) providing for the recovery or “clawback” of certain compensation awarded to our executive officers, and certain elements of our compensation programs also contain claw-back provisions.


Compensation Process for 20202023


In setting named executive officer compensation for 2020,2023, the Compensation Committee considered the philosophies and objectives described above, but did not engage an independent compensation consultant or reference any reports from an independent compensation consultant. Instead, the Compensation Committee utilized their ownits members’ knowledge, experience, and judgment in assessing reasonable compensation and ensuring compensation levels remain competitive in the marketplace, consulted with Mr. Lamp regarding compensation for all of the named executive officers (other than Mr. Lamp)himself), and also considered the following:

The Company’s financial and operational performance;
Each named executive officer’s compensation levels and performance in 2019;2022;
Total compensation for which each named executive officer would be eligible in 20202023, including the expected ratio of salary to bonus; and
The “variable” or “at risk” components of the named executive officer compensation.


The Compensation Committee further considered the advisory vote of stockholders from its 20202023 Annual Meeting, in which stockholders overwhelmingly approved, on an advisory basis, named executive officer compensation for 2019,2022, which utilized a three-pronged program, balancing base salary with annual performance-based bonus targets and long-term incentives, both reflected as a percentage of base salary.incentives. The Compensation Committee concluded this three-pronged program, which is the same utilized for all management employees of the Company, supports the objectives described above, and elected to keep the compensation structure for 20202023 compensation the same as 2019,2022, as follows:



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ElementPrimary ObjectivesApproved 20202023 Compensation
Base Salary
Attract and retain high-caliber executives to lead the Company
Provide competitive financial incentives
Reward individual performance
20192023 Base Salary increased by between 3%3.5% and 5%16.1% based on individual performance and/or total relative compensation levels, other than for Mr. Lamp who did not receive an increaselevels*
Annual Performance-Based Bonus
Attract and retain high-caliber executives to lead the Company
Incentivize important business priorities
Align interests of executives with those of our stockholders
Provide competitive financial incentives
Same target payout percentages as 20192022 and substantially equivalent plan document and performance metrics as described below
Long Term Incentive Awards
Attract and retain high-caliber executives to lead the Company
Align interests of executives with those of stockholders
Provide competitive financial incentives
Promote continuity and retention of management
Same percentage of Base Salary and terms as 2019,2022, vesting ratably over three years subject to vesting conditions

* Excludes Mr. Lamp, whose base salary is established in his employment agreement dated December 22, 2021 (the “2021 Employment Agreement”).


The Compensation Committee also consulted with the compensation committee (the “UAN Committee”) of the board of directors of the general partner of CVR Partners (the “UAN Committee”) relating to Mr. Pytosh’s 20202023 compensation, as 60% of his compensation is determined by the UAN Committee, based on the general allocation of his time spent performing services for CVR Partners (60%) and CVR Energy (40%). The Compensation Committee believes the process and objectives utilized by the UAN Committee in setting named executive officer compensation, as well as the structure and elements of such compensation, are generally consistent with those utilized by the Compensation Committee. Messrs. Lamp and Neumann and Ms. Buhrig are also executive officers of the general partner of CVR Partners, although the UAN Committee does not determine any part of their compensation.


20202023 Target Compensation Mix


The 20202023 target compensation mix established by the Compensation Committee for our CEO and our other named executive officers was predominantly variable orand “at risk”, at 78.5%75% and 77.0%73%, respectively.


20202023 Target Compensation Mix
a2020trgtcompensationmixfoa.jpga2020trgtcompensationmixfo.jpg    CEO.jpgNEO v2.jpg
(1)Comprised of the sum of our CEO’s 2020(i) 2023 base salary, (ii) target annual performance-based bonus opportunity awarded by the Compensation Committee under the 2023 CVR Energy, Inc. Performance-Based Bonus Plan (the “2023 CVI Plan”), and grants(iii) target long-term incentive awards in connection with the long-term incentive plan of CVR Energy (“CVI(the “CVI LTIP”). Actual compensation may differ therefrom.
(2)Comprised of the average of the named executive officers’ (excluding our CEO’s) (i) 2020 base salaries including, for Mr. Pytosh, that portion of his base salarycompensation determined by the Compensation Committee or the UAN Committee;Committee, as applicable, comprised of: (i) 2023 base salaries; (ii) target annual performance-based bonusesbonus opportunities awarded under the 20202023 CVI Plan or the 2023 CVR Energy, Inc. Performance-BasedPartners, LP Performance-
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Based Bonus Plan (the “2020 CVI“2023 UAN Plan”), including for Mr. Pytosh, that portion of his target annual performance-based bonus awarded by the UAN Committee under the 2020 CVR Partners, LP Performance-Based Bonus Plan (the “2020 UAN Plan”);as applicable; and (iii) grantstarget long-term incentive awards in connection with the CVI LTIP including for Mr. Pytosh, grants byor the UAN Committee under theCVR Partners long-term incentive plan of CVR Partners (the “UAN LTIP”)., as applicable. Actual compensation may differ therefrom.
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Compensation Elements for 20202023


Base Salary. Base salaries are set at a level intended to enable CVR Energy to hire and retain executives and to reward individual and Company performance. In February 2020, theThe Compensation Committee approved the following base salaries for 2020:our named executive officers for 2023:

Named Executive Officer2019 Base Salary2020 Base SalaryIncrease from Prior Year
David L. Lamp$1,000,000 $1,000,000 — %
Tracy D. Jackson456,756 470,459 3.0 %
Mark A. Pytosh (1)551,050 567,582 3.0 %
Melissa M. Buhrig512,500 538,125 5.0 %
David L. Landreth442,900 456,187 3.0 %
Named Executive Officer2023 Base Salary2022 Base SalaryIncrease from Prior Year
David L. Lamp (1)
$1,100,000 $1,100,000 — %
Dane J. Neumann (2)
522,500 450,000 16.1 %
Mark A. Pytosh (3)
629,273 607,993 3.5 %
Melissa M. Buhrig631,875 598,934 5.5 %
Michael H. Wright, Jr. (4)
517,500 500,000 3.5 %
(1)For 2020, included $227,033Mr. Lamp’s base salary is defined in his 2021 Employment Agreement and is fixed for the duration of the term, unless adjusted upward by the Compensation Committee in its sole and absolute discretion. Mr. Lamp’s salary did not increase in 2023.
(2)Mr. Neumann’s 2022 base salary reflects actual compensation received in 2022, which includes increases approved by the Compensation Committee in March and October 2022 due in part to his strong performance. His base salary approved in October 2022 was $500,000, which was in place until 2023 base salary was established in February of 2023, representing a 5% increase.
(3)Mr. Pytosh’s base salaries for 2023 and 2022 comprised $251,709 and $243,197, respectively, determined by the Compensation Committee and $340,549$377,564 and $364,796, respectively, determined by the UAN Committee.

(4)Mr. Wright’s 2022 base salary is the salary approved by the Compensation Committee in connection with his appointment as Chief Operating Officer in January 2022.

2022 Annual Performance-Based Bonus. Bonus Plan Results. In February 2020,2023, the Compensation Committee evaluated the metrics included in the CVR Energy, Inc. 2022 Performance-Based Bonus Plan (the “2022 CVI Plan”), as well as the Compensation Committee’s objectives of rewarding employees (including named executive officers) for measured performance, aligning employee’s interests with those of its stockholders, encouraging employees to focus on targeted performance, and providing employees with the opportunity to earn additional compensation based on their and the Company’s performance. In February 2023, based on these considerations and after determining that CVR Energy had achieved the Adjusted EBITDA Threshold under the 2022 CVI Plan, the Compensation Committee approved payouts to Messrs. Lamp, Neumann, Pytosh, and Wright, and Ms. Buhrig under the 2022 CVI Plan of $1,947,100, $650,200, $373,500, $648,300 and $886,000, respectively, approximately 118% of their target annual bonus, which were paid in 2023.

In February 2023, the UAN Committee evaluated the metrics included in the CVR Partners, LP 2022 Performance-Based Bonus Plan (the “2022 UAN Plan”), which applies to all eligible employees of the Partnership’s subsidiaries and Mr. Pytosh, and the UAN Committee’s objectives which are generally aligned with those of the Compensation Committee detailed above, and after determining that CVR Partners had achieved the Adjusted EBITDA Threshold under the 2022 UAN Plan, approved payout to Mr. Pytosh under the 2022 UAN Plan of $478,000, approximately 97% of his respective target annual bonus based on his base salary for CVR Partners. Other than Mr. Pytosh, no named executive officers received a payout under the 2022 UAN Plan.

2023 Annual Performance-Based Bonus Plan. In February 2023, the Compensation Committee considered the objectives and factors detailed above and, following consultation with Mr. Lamp:


Approved the 20202023 CVI Plan, which applies to all full-time employees of CVR Energy and its subsidiaries (other than employees of CVR Partners and contains terms generally consistent with the 2019 Performance-Based Bonus Plan (the “2019 CVI Plan”) as described below;its subsidiaries); and
Elected to keep target payouts (as a percentage of base salary) under the 20202023 CVI Plan the same as the prior year for the named executive officers, or 150% for Mr. Lamp, 135% for Mr. Pytosh, and 120% for the other named executive officers.Messrs. Neumann and Wright and Ms. Buhrig.


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As with the 20192022 CVI Plan, payout under the 20202023 CVI Plan was dependent first on achievement of an Adjusted EBITDA Threshold51 and then on achievement under the performance measures both as specified below, which were substantially similarcontain terms generally equivalent to the 20192022 CVI Plan, except forsubject to adjustments to the adjustment ofreliability measures and return on capital employed (“ROCE”) bonus achievement thresholds, as well as to the definition of Adjusted EBITDA, among other definitions. Notwithstanding the foregoing, under the 2023 CVI Plan the Compensation Committee may, in its sole and absolute discretion, wave the Adjusted EBITDA Threshold to reflect increases in turnaround reserves for CVR Partners from $7 million to $8 millionrequirement, increase, decrease, or otherwise adjust performance measures, targets, and forpayout ranges used under the petroleum segment from $55 million to $60 million, in each case to reflect expected turnaround activity.2023 CVI Plan as a result of extraordinary or non-recurring events other events,


EH&S Measures (25% of total payment))


Three measures evenly weighted including(33-1/3% each): Total Recordable IncidentInjury Rate (“TRIR”) (8.33%), Process Safety Tier 1 Incident Rate (“PSIR”) (8.33%), and Environmental Events (“EE”) (8.33%), with achievement determined based on the following:


Percentage Change (over the prior year)Bonus Achievement
Increase in Incident RateTRIR, PSIR or IncidentsEEZero
0%50% of Target Percentage (Threshold)
Decrease > 0% and < 3%Linear Interpolation between Threshold and Target
Decrease of 3%Target Percentage
Decrease > 3% and < 10%Linear Interpolation between Target and Maximum
Decrease of 10% or more, or if TRIR is maintained at or below 1.0, PSIR at or below 0.2 and EE at or below 20150% of Target (Maximum)

Financial Measures (75%)

Four measures evenly weighted (25% each), including Reliability, Equipment Utilization, Operating Expense, and ROCE, with achievement determined based on the following:
ReliabilityBonus Achievement
Greater than 7.0%Zero
7.00%50% of Target Percentage (Threshold)
5.01% to 6.99%Linear Interpolation between Threshold and Target
5.00%Target Percentage
4.0% to 4.99%Linear Interpolation between Target and Maximum
Less than 4.0%150% of Target (Maximum)
Equipment Utilization (compared to plan)Bonus Achievement
Less than 95%Zero
95%50% of Target Percentage (Threshold)
95.01% to 99.99%Linear Interpolation between Threshold and Target
100%Target Percentage
100.01% to 104.99%Linear Interpolation between Target and Maximum
Greater than 105%150% of Target (Maximum)
51Per the 20202023 CVI Plan, (a) Adjusted EBITDA means the Adjusted EBITDA under the Refining Performance-Based Bonus Plan (“2023 Refining Plan”) and the 2023 UAN Plan, weighted on an absolute basis; and (b) the Adjusted EBITDA Threshold means actual maintenance and sustaining capital expenditures plus reserves for turnaround expenses plus interest on debt for the given performance period and board-directed actions based on Company’s audited financial statements.actions. The Adjusted EBITDA Threshold is not the equivalent of Adjusted EBITDA as reflected in the 2023 Annual Report. The 2023 Refining Plan contains the same performance measures as the 2023 CVI Plan and 2023 UAN Plan.

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Financial Measures (75% of total payment)

Four measures evenly weighted, including Reliability (18.75%), Equipment Utilization (18.75%), Operating Expense (18.75%), and Return on Capital Employed (“ROCE”) (18.75%), with achievement determined based on the following:
ReliabilityOperating Expense (compared to budget)Bonus Achievement
Greater than 8.0%103.0%Zero
8%103%50% of Target Percentage (Threshold)
6.01%100.1% to 7.99%102.99%Linear Interpolation between Threshold and Target
6%100%Target Percentage
5.0%95.0% to 5.99%99.99%Linear Interpolation between Target and Maximum
Less than 5.0%95%150% of Target (Maximum)

Equipment Utilization (compared to plan)Bonus Achievement
Less than 95%Zero
95%50% of Target Percentage (Threshold)
95.01% to 99.99%Linear Interpolation between Threshold and Target
100%Target Percentage
100.01% to 104.99%Linear Interpolation between Target and Maximum
Greater than 105%150% of Target (Maximum)

Operating Expense (compared to budget)Bonus Achievement
Greater than 103%Zero
103%50% of Target Percentage (Threshold)
100.1% to 102.99%Linear Interpolation between Threshold and Target
100%Target Percentage
95% to 99.99%Linear Interpolation between Target and Maximum
Less than 95%150% of Target (Maximum)

ROCE (Ranking vs. Peer Group)Bonus Achievement
First (highest)150% of Target (Maximum)
Second125% of Target Percentage
Third125%112.5% of Target Percentage
FourthTarget Percentage (100%)
Fifth50% of Target Percentage
ThirdSixth112.5% of Target PercentageZero
FourthSeventhTarget Percentage (100%)
Fifth75% of Target Percentage
Sixth50% of Target Percentage (Minimum)
SeventhZero


In setting the peer group under the 20202023 CVI Plan, the Compensation Committee, in consultation with Messrs. Lamp and Pytosh, evaluated the fertilizerrefining and refiningnitrogen fertilizer business environments, assessed publicly traded entities in similar business lines and subject to similar regulations as the Company, and thereafter elected to keep peer groups under the 20202023 CVI Plan the same as the 20192022 CVI Plan, as follows:

Refining Peer GroupFertilizer Peer Group
Delek US Holdings, Inc.Marathon Petroleum Co.CF Industries Holdings, Inc.LSB Industries, Inc.
HollyFrontier Corp.HF Sinclair CorporationPar Pacific Holdings, Inc.Flotek Industries, Inc.Nutrien Ltd.
PBF Energy, Inc.Valero Energy Corp.Green Plains Partners LPThe Andersons, Inc.


20202023 UAN Performance-Based Bonus Plan. Also in February 2020,2023, the UAN Committee approved the 20202023 UAN Plan with identical terms and performance measuresgenerally equivalent to the 2022 UAN Plan (including the same Fertilizer Peer Group) as the portions, other than adjustments of the 2020same nature as made to the 2023 CVI Plan relating to CVR Partners, other than the adjustment of the definition of the Adjusted EBITDA Threshold under the UAN Plan to reflect an increase in turnaround reserve from $7 million to $8 million.outlined above. Mr. Pytosh could have received
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between 0% and 150% of target under the 20202023 UAN Plan (which target represented his base salary determined by the UAN Committee) based on the performance of CVR Partners under these performance measures.


2020 CVI Plan and 2020 UAN2023 Performance-Based Bonus Plan Results. In February 2021,2024, the Compensation Committee and, only with respect to Mr. Pytosh, the UAN Committee, evaluated and certified to the performance metrics contained in the 20202023 CVI Plan and the 20202023 UAN Plan, respectively, as follows:


For the 20202023 CVI Plan, the Compensation Committee observeddetermined that CVR Energy had achieved the exceptionalAdjusted EBITDA Threshold, certified to the achievement of the Companyperformance metrics at 108% of target as detailed below, and as a result approved payouts for Messrs. Lamp, Neumann, Pytosh, and Wright and Ms. Buhrig under the performance measures despite the unprecedented circumstances during 2020 arising from the COVID-19 pandemic, which would have resulted in payout2023 CVI Plan of 141% as detailed below. However, due primarily to market conditions including the significant destruction of refined product demand, CVR Energy did not meet the Adjusted EBITDA Threshold. As a result, while the Compensation Committee did exercise its discretionary authority to approve certain bonus payments to eligible non-management employees of the Company or its subsidiaries, it awarded no payouts to the named executive officers under the 2020 CVI Plan. However, based on individual performance$1,782,100, $699,000, $359,300, $656,500, and related factors, the Compensation Committee approved discretionary bonuses to the named executive officers other than Mr. Lamp of $21,000, $24,400, $19,600,$843,800, respectively.
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MeasureMeasure AchievementPayout
 Achievement
Weighted % Achievement
EH&STRIR (8.33%)Increase%— %
PSIR (8.33%)Maintained below 1.0150 %12.50 %
EE (8.33%) (1)
Less than 20150 %12.50 %
Financial (1)
Reliability (18.75%)1.9%150 %28.13 %
Equipment Utilization (18.75%)100.7%109 %20.44 %
Operating Expenses (18.75%)104.7%39 %7.31 %
ROCE (18.75%)First144 %27.00 %
Total Measure Achievement108 %
Payout108 %
(1)The EE and $25,500, to Messrs. Pytosh and Landreth and Mses. Jackson and Buhrig, respectively.
Adjusted EBITDA Threshold: $296 million Target = MISSED
MeasureMeasure AchievementPayout
 Achievement
Weighted % Achievement
EH&STRIR (8.33%)1.0150 %12.5 %
PSIR (8.33%)0.2150 %12.5 %
EE (8.33%)19% Decrease150 %12.5 %
FinancialReliability (18.75%)2.5%150 %28.0 %
Equipment Utilization (18.75%)105.0%149 %28.13 %
Operating Expenses (18.75%)95 %150 %28.13 %
ROCE (18.75%) *7 % (Fourth)100 %18.75 %
Total Measure Achievement141 %
Payout0 %
* The MeasureFinancial Measures Achievement in this table reflects weighted results based on the ROCE of CVRRapplicable measure’s achievement under the 2023 UAN Plan and the 2023 Refining Plan based on Adjusted EBITDA achievement for CVR Partners weighted based on their respective Adjusted EBITDA achievement.and the Company’s refining segment, respectively. The Measures Achievement of CVR Partners is set forth below in the 2023 UAN Plan results section and the Measures Achievement under the 2023 Refining Plan is as follows: (a) for EE: 0% change; and (b) for the Financial Measures: Reliability: 2.0%; Equipment Utilization: 100%; Operating Expenses: 103%; and ROCE: First.


For the 20202023 UAN Plan, the UAN Committee determined that CVR Partners had achieved the Adjusted EBITDA Threshold, target of $83 million, certified to the achievement of the performance metrics at 116%100% of target as detailed below, and as a result, awardedapproved payout to Mr. Pytosh payout under the 20202023 UAN Plan of $535,700,$506,400, as further described in the 20202023 Annual Report on Form 10-K filed with the SEC by CVR Partners on February 23, 2021.21, 2024. Other than Mr. Pytosh, no named executive officers received a payout under the 2023 UAN Plan.

MeasureMeasure AchievementPayout AchievementWeighted % Achievement
EH&STRIR (8.33%)Increase%— %
PSIR (8.33%)Decrease of 100%150 %12.50 %
EE (8.33%)Less than 20150 %12.50 %
FinancialReliability (18.75%)1.7%150 %28.13 %
Equipment Utilization (18.75%)103.0%127 %23.81 %
Operating Expenses (18.75%)110.0%— %— %
ROCE (18.75%)Second125 %23.44 %
Total Measure Achievement100 %
Payout100 %
Adjusted EBITDA Threshold: $83 million Target = ACHIEVED
MeasureMeasure AchievementPayout AchievementWeighted % Achievement
EH&STRIR (8.33%)Increase of 17%%0 %
PSIR (8.33%)Increase of 267%%0 %
EE (8.33%)Less than 20150 %12.5 %
FinancialReliability (18.75%)2.5%150 %28.13%
Equipment Utilization (18.75%)105.0%150 %28.13%
Operating Expenses (18.75%)95.0%150 %28.13 %
ROCE (18.75%)7% (Fourth)100 %18.75 %
Total Measure Achievement116 %
Payout116 %

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Project Renew Bonus. In February 2023, the Compensation Committee approved one-time bonuses for Mr. Neumann and Ms. Buhrig of $150,000 and $200,000, respectively, in each case in recognition of their respective outstanding performance in connection with, and the successful completion of the Company’s effort to transform its business by segregating its renewables business, operations and assets from its other business lines.


Long-Term Incentive Awards.The Compensation Committee believes long-term incentive compensation is one of the most crucial elements of its compensation program.program because it aligns the interests of management with our stockholders and serves to both incentivize and retain. As part of 20202023 compensation, effective December 2019,2022, the Compensation Committee awarded to Messrs. Lamp, Neumann, Pytosh, and LandrethWright and Mses. Jackson andMs. Buhrig incentive units of 32,737; 9,620; 11,589, 11,960,41,888, 15,232, 12,348, 15,232, and 13,422,18,253, respectively, which incentive units vest in one-third increments each December following the date of award, subject to the terms and conditions of the award agreement, with payout in cash based on the average closing price of a common share of CVR Energy for the ten trading days preceding vesting.the vest date. Incentive units denominated in CVR Energy common shares were selected by the Compensation Committee to ensure an equity vehicle that representedrepresents the value and significance of the Company’s combined petroleum and fertilizer segments’ revenue and operational complexity. Effective December 2019,2022, the UAN Committee awarded to
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Mr. Pytosh 191,9306,001 phantom units of CVR Partners, as part of his 20202023 compensation, which phantom units vest ratably over three years, subject to the terms and conditions of the award agreement. The long-term incentive and phantom units awarded as part of 2023 compensation were consistent with the named executive officer target awards, as determined by the Compensation Committee or UAN Committee, as applicable, representing, as a percentage of base salary, 150% for Mr. Lamp, 200% for Mr. Pytosh, and 120% for each of Messrs. Neumann and Wright and Ms. Buhrig. Other than Mr. Pytosh, no named executive officers were awarded phantom units of CVR Partners as part of 2023 compensation.


Equity Ownership Requirements. CVR Energy has not established equity ownership requirements for its executive officers, and all long-term incentive or phantom unit awards, as applicable (including those issued in connection with the CVI LTIP and under the UAN LTIP), are generally settled in cash. The Compensation Committee believes that cash-settled awards provide the CEO and the executive officers with a more attractive compensation package and are less burdensome for the Company to administer than equity-settled awards. Additionally, equity-settled compensation in the form of CVR Energy common stock or common units of CVR Partners would dilute the ownership interests of existing stockholders.


Hedging. We have a policy that prohibits our directors and named executive officers from engaging in transactions that hedge or offset, or are designed to hedge or offset, any decrease in the market value of CVR Energy securities by selling CVR Energy securities “short,”“short”, and we recommend all employees follow this practice. We also strongly recommend that directors, named executive officers and employees, as well as persons residing in their households, not trade in exchange-traded or other third-party options, warrants, puts and calls or similar instruments on CVR Energy securities, hold CVR Energy securities in margin accounts, or conduct “sales against the box” (i.e., selling of borrowed securities without ownership of sufficient shares to cover the sale).


Clawback / Recoupment of Compensation. In additionOctober 2023, the Board approved the Clawback Policy applicable to any claw-backexecutive officers that implements the incentive-based compensation recovery provisions applicable under underof the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 as required under the NYSE listing standards, which policy requires recovery of incentive-based compensation received by current or other applicable laws and regulations,former executive officers during the three fiscal years preceding the date it is determined that the Company is required to prepare an accounting restatement, including to correct an error that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period. The amount required to be recovered is the excess of the amount of incentive-based compensation received over the amount that otherwise would have been received had it been determined based on the restated financial measure. Additionally, our long-term incentive award agreements and performance-based bonus plans contain provisions providing for cancellation, forfeiture, rescission, repayment, recoupment or claw-back, as applicable, of certain compensation paid to our employees, including our named executive officers, under certain circumstances, including in the event of (i) a restatement of CVR Energy’s financial results that would reduce (or would have reduced) the amount of any previously awarded incentive units, pursuant to the CVI LTIP, (ii) a determination by the Board or the Compensation Committee that the grantee of an award under the CVI LTIP has engaged in misconduct (including by omission) or that an event or condition has occurred, which, in each case, would have given the Company or its subsidiaries the right to terminate the grantee’s employment for cause, (iii) misconduct or gross dereliction of duty resulting in a violation of law or Company policy and causes significant harm to the Company, or (iv) other triggering events defined in the CVI LTIPlong-term incentive award agreements and CVR Energy performance-based bonus plans.


Perquisites.The total value of allCompany does not currently offer perquisites and personal benefits provided to each of CVR Energy’sits named executive officers that are not available to other employees, and as a result, no named executive officer had perquisites in 2020 was less than2023 with an aggregate value in excess of $10,000.


Benefits. During 2020,2023, all the named executive officers participated in ourthe health benefits,and welfare and retirement (the “401(k) plan”(401(k)) plans, which are also generally available to all other qualified salaried employees, except Mr. Wright, who elected not to participate in the health and welfare benefit plans.


Other Forms of Compensation.Severance Benefits.Mr. Lamp has provisions in his employment agreementsLamp’s 2021 Employment Agreement with CVR Energy that provide(discussed in more detail below) provides for severance benefits in the event of a termination of his employment under certain circumstances. These severance provisionsAdditionally, all of our other named executive officers are described belowparticipants in “Change-in-Control and Termination Payments.” Since September 2018, Messrs. Pytosh and Landreth and Mses. Jackson and Buhrig have been subject to CVR Energy’sa Change in Control and Severance Plan (the “CIC and“CVI Severance Plan”), which provides for severance benefits in the event of aemployment termination of his or her employment under certain circumstances. TheseThe severance provisions areto which the named executive officers may become entitled is described below in “Change-in-Control and Termination Payments.”


33


CVR Partners. As discussednoted above, a number of our executive officers, including all of our named executive officers other than Mr. Landreth,Wright, also serve as executive officers of our affiliate, the general partner of CVR Partners. All of our named executive officers receive their compensation and benefits from us, including compensation related to services performed for CVR Partners. In addition to the compensation received by Mr. Pytosh from us, he also
32


receives, as determined by the UAN Committee, a base salary and equity-based and performance-based bonus awards from the UAN Committee pursuant toin connection with the UAN LTIP and any performance-based bonus plan adopted by CVR Partners. In the future, our other named executive officers may also receive equity-based awards pursuant to or in connection with the UAN LTIP for services provided to CVR Partners.

Pursuant to a Corporate Master Services Agreement (“Corporate MSA”) entered into betweenamong certain of our subsidiaries and CVR Partners, certain of its subsidiaries, and its general partner, CVR Partners (or its subsidiaries or its general partner, as the case may be) pays us a monthly fee generally reflecting (a) a pro rata share of personnel costs incurred by us in connection with the employment of our employees who provide services to CVR Partners, including an allocated portion of performance-based bonuses, incentive units, and performance units issued by us to those employees, (b) a pro rata share of certain general and administrative costs based on the estimated portion of such services that are for the benefit of CVR Partners, and (c)various other administrative costs in accordance with the terms of the Corporate MSA. Additional detail regarding the Corporate MSA and our rights and obligations thereunder can be found in the section “Relationships and Related Parties.”


Tax Considerations. Section 162(m) of the Code generally limits deductions by publicly held corporations for compensation paid to its “covered employees” to the extent that the employee’s compensation for the taxable year exceeds $1.0 million. Prior to January 1, 2018, this limit did not apply to “qualified performance-based compensation,” which required, among other factors, satisfaction of a performance goal that was established by a committee of the Board consisting of two or more non-employee directors and stockholder approval of the material terms under which such compensation was paid. The Tax Cuts and Jobs Act (the “Tax Act”), enacted in December 2017, amended Section 162(m) to eliminate this “performance-based compensation” exception for taxable years beginning after December 31, 2017, such that compensation paid to a public company’s “covered employees” in excess of $1.0 million will not be deductible unless it qualifies for transition relief applicable to certain arrangements in place as of November 2, 2017. In addition, the Tax Cuts amended the definition of “covered employees.” Effective January 1, 2018, “covered employees” include the chief executive officer, chief financial officer, the next three most highly compensated officers serving during the taxable year, and a covered employee for any preceding taxable year beginning after December 31, 2016.

As a general matter, in making its compensation decisions prior to the Tax Act’s amendment of Section 162(m) of the Code, the Compensation Committee soughtseeks to maximize the deductibility of compensation under Section 162(m) to the extent doing so wasis reasonable and consistent with our strategies and goals. Due to the elimination of the “qualified performance-based compensation exemption” under Section 162(m) by the Tax Act, other than compensation that qualified for the transition relief, the compensation in excess of $1 million per employee paid to our covered employees after 2017 is no longer deductible. Notwithstanding amendment of Section 162(m) of the Code by the Tax Act, we believe that stockholder interests are best served by preserving the Compensation Committee’s discretion and flexibility to take into account factors other than tax deductibility in making compensation decisions. Furthermore, the rules and regulations promulgated under Section 162(m) are complicated and subject to change from time to time, sometimes with retroactive effect. In addition, a number of requirements must be met in order for particular compensation to so qualify and the application and interpretations of such requirements are subject to uncertainty, including the uncertain scope of the transition relief under the Tax Act. As such, there can be no assurance that any compensation awarded or paid by the Company will be fully deductible under any circumstances. Accordingly, the Compensation Committee retains the flexibility to approve compensation that may not be deductible if it believes that doing so is in the best interests of the Company and our stockholders. Further, the Compensation Committee reserves the right to modify compensation that was initially intended to be exempt from Section 162(m) if it determines that such modifications are consistent with our strategies and goals.


3334



COMPENSATION COMMITTEE REPORT


The Compensation Committee reviewed and discussed the Compensation Discussion and AnalysisCD&A with management. Based on this review and discussion, the Compensation Committee recommended to the Board that the Compensation Discussion and AnalysisCD&A be included in this Proxy Statement.


Compensation Committee
Hunter C. Gary,Dustin DeMaria, Chairman
Jonathan FratesJaffrey A. Firestone
Ted Papapostolou
April 23, 202117, 2024


    


    
    


3435



COMPENSATION OF NAMED EXECUTIVE OFFICERS
Summary Compensation Table
The following table sets forth the compensation paid tofor our named executive officers duringfor the years ended December 31, 2020, 2019,2023, 2022, and 2018.2021. As of December 31, 2020,2023, all of our named executive officers were employed by an indirect subsidiary of CVR Energy. AllThe compensation paid toshown reflects the portion of such named executive officers is reflected inofficers’ compensation defined by the table,Compensation Committee and attributable to services performed for our business, including the portion of such named executive officers’ compensation attributable to services performed for CVR Partners.
Name and Principal PositionYearSalary
(1)
Bonus
(2)
Stock Awards (3)Non-Equity Incentive Plan Compensation (1, 4)
All Other Compensation
(5)
Total
David L. Lamp, President and CEO2020$1,000,000 $— $2,144,005 $— $20,801 $3,164,806 
20191,000,000 — 1,500,000 1,770,000 20,364 4,290,364 
20181,000,000 — 1,500,035 1,875,000 20,064 4,395,099 
Tracy D. Jackson, Executive Vice President and CFO2020$470,459 $19,600 $807,565 $— $18,390 $1,316,014 
2019456,756 200,800 548,000 621,300 17,865 1,844,721 
2018272,715 96,400 1,044,019 412,400 91,901 1,917,435 
Mark A. Pytosh, Executive Vice President, Corporate Services2020$567,582 $21,000 $1,772,104 $535,700 $19,511 $2,915,897 
2019551,050 457,300 1,102,000 818,000 20,364 2,948,714 
2018535,000 310,500 1,070,011 799,500 17,742 2,732,753 
Melissa M. Buhrig, Executive Vice President, General Counsel and Secretary2020$538,125 $25,500 $923,340 $— $17,941 $1,504,906 
2019512,500 236,100 615,000 737,000 99,410 2,200,010 
2018230,769 125,800 1,500,039 349,000 301,934 2,507,542 
David L. Landreth, Former Executive Vice President and Chief Commercial Officer (6)2020$456,187 $24,400 $781,837 $— $20,801 $1,283,225 
2019$442,900 $513,200 $531,000 $604,700 $20,364 2,112,164 
Name and Principal PositionYear
Salary (1)
Bonus (2)
Stock Awards (3)
Non-Equity Incentive Plan Compensation (4)
All Other Compensation (5)
Total
David L. Lamp, President and Chief Executive Officer2023$1,100,000 $— $1,592,076 $1,782,100 $26,658 $4,500,834 
20221,100,000 — 1,247,425 1,947,100 26,312 4,320,837 
20211,000,000 — 1,196,795 1,710,000 3,564 3,910,359 
Dane J. Neumann, Executive Vice President, Chief Financial Officer, Treasurer and Assistant Secretary2023$522,500 $150,000 $604,967 $699,000 $20,286 $1,996,753 
2022450,000 — 453,609 650,200 18,740 1,572,549 
2021286,961 — 382,965 250,400 440 920,766 
Mark A. Pytosh, Executive Vice President—Corporate Services2023$629,273 $— $1,181,850 $865,700 $22,122 $2,698,945 
2022607,993 — 1,023,993 851,500 20,622 2,504,108 
2021590,284 — 1,041,190 834,100 2,322 2,467,896 
Melissa M. Buhrig, Executive Vice President, General Counsel and Secretary2023$631,875 $200,000 $731,381 $843,800 $20,610 $2,427,666 
2022598,934 — 543,574 886,000 19,110 2,047,618 
2021570,413 — 545,738 793,500 810 1,910,461 
Michael H. Wright, Jr., Executive Vice President and Chief Operating Officer2023$517,500 $— $599,199 $656,500 $21,042 $1,794,241 
2022500,000 — 873,225 648,300 19,120 2,040,645 
(1)For 2018, amountsAmounts in this column reflect the “Salary”base salaries of the named executive officers, and “Non-Equity Incentive Plan Compensation” columns(i) for Mses. Jackson2022, (a) for Mr. Neumann, the total base salary received, including as a result of salary adjustments approved by the Compensation Committee in February and Buhrig were proratedOctober 2022; and (b) for Mr. Wright, the yeartotal base salary received in which their employment commenced based on their start dates2022, including for time periods prior to his appointment to Chief Operating Officer in May 2018January 2022; and July 2018, respectively.(ii) for 2021, for Mr. Neumann, total compensation received, including for time periods prior to his appointment to Chief Financial Officer in October 2021.
(2)Amounts in this column include thea discretionary bonus amount, if any, paid based on individual performance, significant achievements, and related factors, includingfactors. Amounts in this column for 2020, as described under “2020 CVI Plan2023 for Mr. Neumann and 2020 UAN Plan Results” above.Ms. Buhrig represent one-time bonuses in recognition of their respective outstanding performance in connection with, and the successful completion of, CVR Energy’s effort to transform its business by segregating its renewables business, operations and assets from its other business lines.
(3)Amounts in this column reflect the aggregate grant date fair value, as calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation—Stock Compensation (“ASC 718”), of incentive units granted to each named executive officer during the periods specified in connection with the CVI LTIP, and additionally for Mr. Pytosh, incentivephantom units granted in connection with the CVI LTIP plus phantom units granted under the UAN LTIP, except that for 2018 for Mses. Jackson and Buhrig, this amount also includes incentive units awarded in connection with their hire of $522,003 and $900,017, respectively.LTIP.
(4)Amounts in this column reflect: (a)reflect amounts earned under the CVR Energy performance based bonus plan for 2020,the applicable year, and additionally for Mr. Pytosh, amounts earned under the 2020 UAN Plan,CVR Partners’ performance-based bonus plan for the applicable year, each of which were paid in March 2021; and (b) for 2019 and 2018, amounts earned under the applicable performance-based bonus plan for CVR Energy, and with respect to Mr. Pytosh, for CVR Partners.following year.
(5)Amounts in this column for 2020 include: include the following:
Name
401(k) Plan (a)
Life Insurance (b)
Other
David L. Lamp$19,800 $6,858 $— 
Dane J. Neumann19,800 486 — 
Mark A. Pytosh19,800 2,322 — 
Melissa M. Buhrig19,800 810 — 
Michael H. Wright, Jr.19,800 1,242 — 
(a) CompanyReflects employer contributions under the CVR Energy 401(k) plan of $17,100plan.
(b)Reflects the imputed income amount that is included in taxable income for each of Messrs. Lamp, Pytosh, and Landreth and Mses. Jackson and Buhrig; and (b) a Company contribution under its basic life insurance program of $3,701 for Messrs. Lamp and Landreth, $2,411 for Mr. Pytosh, $1,290 for Ms. Jackson, and $841 for Ms. Buhrig. Amounts in this column for 2019 include: (a) Company contributions under the CVR Energy 401(k) plan of $16,800 for each of Messrs. Lamp, Pytosh, and Landreth and Ms. Jackson, and $8,577 for Ms. Buhrig; (b) a Company contribution under its basic life insurance program of $3,564 for Messrs. Lamp, Pytosh, and Landreth, $1,065 for Ms. Jackson, and $540 for Ms. Buhrig; and (c) a Company relocation contribution of $90,293 for Ms. Buhrig. Amounts in this column for 2018 include: (a) Company contributions under the CVR Energy 401(k) plan of $16,500 for each of Messrs. Lamp and Pytosh and Ms. Jackson; and $9,423 for Ms. Buhrig; (b) a Company contribution under the Company basic life insurance program of $3,564 for Mr. Lamp, $401 for Ms. Jackson, $1,242 for Mr. Pytosh, and $228 for Ms. Buhrig; and (c) $75,000 and $292,282 in relocation expenses for Mses. Jackson and Buhrig, respectively, which includes moving expenses and other relocation services and payments including a related tax gross-up of $114,788 for Ms. Buhrig.
(6)Mr. Landreth retired as annamed executive officer in March 2021.pursuant to the Group Term Life Insurance Plan.



3536



Grants of Plan-Based Awards


The following table sets forth information concerning amounts that could have been earned by our named executive officers under the 20202023 CVI Plan - although actual payout under the 2020 CVI Plan to named executive officers was zero - and, additionally with respect to Mr. Pytosh, under the 20202023 UAN Plan, as well as amounts that were granted under or relating toin connection with the CVI LTIP and, with respect to Mr. Pytosh, granted in connection with the UAN LTIP during 2020.2023:

Estimated Future Payouts Under
Non-Equity Incentive Plan Awards (1)
Estimated Future Payouts under Equity Incentive
Plan Awards (2)
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards (1)
Estimated Future Payouts under Equity Incentive
Plan Awards (2)
NameNameBonus Plan /
Award Type
Grant DateThreshold (3)TargetMaximumNumber
of Shares of
Stock or Units
Grant Date Fair Value
Name
NameBonus Plan /
Award Type
Grant Date (3)
Threshold (4)
TargetMaximumNumber
of Shares of
Stock or Units
Grant Date Fair Value
David L. LampDavid L. Lamp2020 CVI Plann/a$62,250 $1,500,000 $2,250,000 — — 
CVI LTIP12/9/20— — — 134,168 $2,144,005 
Tracy D. Jackson2020 CVI Plann/a$23,429 $564,551 $846,827 — — 
CVI LTIP12/9/20— — — 50,536 $807,565 
Incentive Units
Dane J. Neumann
Incentive Units
Mark A. PytoshMark A. Pytosh2020 CVI Plann/a$12,720 $306,495 $459,743 — — 
2023 UAN Plan
Incentive Units
Phantom Units
Melissa M. Buhrig
Incentive Units
2020 UAN Plann/a19,079 459,741 689,612 — — 
CVI LTIP12/9/20— — — 40,608 $648,916 
Michael H. Wright, Jr.
UAN LTIP12/9/20— — — 93,288 1,123,188 
Melissa M. Buhrig2020 CVI Plann/a$26,799 $645,750 $968,625 — — 
Michael H. Wright, Jr.
CVI LTIP12/9/20— — — 57,781 $923,340 
David L. Landreth2020 CVI Plann/a$22,718 $547,424 $821,136 — — 
CVI LTIP12/9/20— — — 48,926 $781,837 
Michael H. Wright, Jr.
Incentive Units
(1)Amounts in these columns reflect amounts that could have been earned by the named executive officers under the applicable plan in respect of 20202023 performance with respect to each performance measure, excluding the impact of any individual discretionary performance adjustments. The performance measures for 20202023 under the plans arewere set by the Compensation Committee and the UAN Committee, as applicable, as described in the “Compensation Discussion and Analysis.”Analysis”.
(2)Amounts in these columns reflect the number of and grant date fair value, as calculated in accordance with ASC 718, of (i) incentive units awarded to Messrs. Lamp, Neumann, Pytosh and LandrethWright and Mses. Jackson andMs. Buhrig underduring 2023 as part of 2024 compensation in connection with the CVI LTIP during 2020;LTIP; and (ii) phantom units awarded to Mr. Pytosh underduring 2023 as part of 2024 compensation in connection with the UAN LTIP during 2020.LTIP.
(3)ForThe Grant Date reflected for the 20202023 CVI Plan and the 20202023 UAN Plan reflects the date the Compensation Committee or the UAN Committee, as applicable, approved the 2023 CVI Plan and the 2023 UAN Plan, respectively.
(4)For the 2023 CVI Plan and the 2023 UAN Plan, “Threshold” represents the minimum payout under the applicable plan,thereunder, assuming CVR Energy and CVR Partners, as applicable, each (a) satisfied the Adjusted EBITDA Threshold, and (b) achieved performance under one EH&S measure equal to the prior year performance, resulting in payout of 50% of the 8.33% measure value, or 4.16%4.167% of total target payout. For more information and full description of the 20202023 CVI Plan and the 20202023 UAN Plan, please see “Compensation Discussion and Analysis.” However, in certain circumstances, - including for 2020 in whichthe event the Adjusted EBITDA Threshold under the 2020 CVI Plan wasis not achieved, - the named executive officers may receive payout that is less than Threshold.the Threshold or zero.




3637



Employment AgreementsAgreement and Incentive Payment


NoneOther than Mr. Lamp, none of our named executive officers have an employment agreement with CVR Energy or its subsidiaries other thansubsidiaries. Mr. Lamp. On November 1, 2017, CVR Energy entered intoLamp’s 2021 Employment Agreement has an employment agreement with Mr. Lamp, as CEO and President of CVR Energy, effective January 1, 2018. The agreement has a four-yearapproximate three-year term, continuing throughwhich expires on December 31, 2021,2024, unless otherwise terminated, amended, or extended by CVR Energy or Mr. Lamp. Under his employment agreement,the 2021 Employment Agreement, in addition to the ability to participate in such health, insurance, retirement and other employee benefit plans and programs of CVR Energy has in effect from time to time on the same basis as other senior executives of CVR Energy, Mr. Lamp is also eligible to receive:

An annual base salary of $1,000,000;$1,100,000, unless adjusted upward by the Compensation Committee in its sole and absolute discretion;

A performance-based annual cash bonus with a target payment equal to 150% of his annual base salary, to bewith the actual amount of such bonus received based upon individual and/or company performance criteria as established by the CVI Compensation Committee; and
    Annual performance units pursuant toFor each fiscal year during the CVI LTIP havingterm of the 2021 Employment Agreement, an incentive unit award with an aggregate valuetarget award opportunity equal to 150% of $1.5 million, orhis base salary (or such other form of awardamount as may be agreed upon by Mr. Lamp and the Compensation Committee; and
•    An incentive payment of $10 million (the “Incentive Payment”), provided he remains employedto by CVR Energy or its subsidiaries through December 31,and Mr. Lamp) granted in connection with the CVI LTIP.

The 2021 (unless terminated without cause or byEmployment Agreement also provides Mr. Lamp for good reason,with severance payments in each case, as defined inconnection with the termination of Mr. Lamp’s employment agreement), payable:

o    Under the employment agreement, if on or prior to December 31, 2021, either (i) a transaction is consummatedunder certain circumstances, which constitutes a change-in-control (as defined in the employment agreement), or (ii) the Board approves a transaction which, if consummated, would constitute a change-in-controlpayments are described below under “Change-in-Control and such transaction is consummated on or prior to December 31, 2022; or

o    Under his separate Performance Unit Award Agreement, provided (a) none of the conditions for payout of the Incentive Payment under the employment agreement have been met,Termination Payments,” and (b) the average closing price of CVR Energy’s common stock over the 30-trading day period beginning on January 4, 2022 and ending on February 15, 2022 is equal to or greater than $60.00 per share (subject to any equitable adjustments required to account for splits, dividends, combinations, acquisitions, dispositions, recapitalizations, and the like).

The employment agreement requires Mr. Lamp to abide by a perpetual restrictive covenant relating to non-disclosure and non-disparagement, and also includesas well as covenants relating to non-solicitation and non-competition that govern during his employment and thereafter for the period severance is paid and, if no severance is paid, for six months following termination of employment. In addition,

Mr. Lamp’s employment agreement providesLamp is also eligible to receive an incentive payment of $10 million (the “Incentive Payment”) payable if either the conditions set forth in the 2021 Employment Agreement or the conditions set forth in a separate Performance Unit Award Agreement, as amended on December 22, 2021 (as amended, the “PU Award Agreement”), are fulfilled, as follows:
AgreementConditionsMeasurement Period
2021 Employment Agreement
a transaction is consummated that constitutes a Change-in-Control,(1) or
the Board approves a transaction which, if consummated, would constitute a Change-in-Control(1) and such transaction is consummated on or prior to December 31, 2025
Prior to December 31, 2024
PU Award AgreementThe average closing price of CVR Energy’s common stock is equal to or greater than $60.00 per share (subject to any equitable adjustments required to account for splits, dividends, combinations, acquisitions, dispositions, recapitalizations and the like)30-trading day period:
January 6, 2025 - February 20, 2025
(1)Change-in-Control as defined in the 2021 Employment Agreement.

Payment of the Incentive Payment under the 2021 Employment Agreement or the PU Award Agreement is conditioned upon Mr. Lamp remaining employed with CVR Energy through December 30, 2024 (unless terminated by CVR Energy without cause or by Mr. Lamp for certain severancegood reason (as defined in the 2021 Employment Agreement) on or after the satisfaction of the foregoing conditions and prior to December 30, 2024). Mr. Lamp will not under any circumstance be entitled to receive more than one Incentive Payment and if he becomes entitled to the Incentive Payment under the terms of the 2021 Employment Agreement, Mr. Lamp will immediately forfeit any right to payments that may be due following termination of his employment under certain circumstances, which are described below under “Change-in-Control and Termination Payments.” the PU Award Agreement.

The description of these agreements are qualified in their entirety by the text of such agreements, each of which have been publicly filed with the SEC.



3738



Outstanding Equity Awards at Fiscal Year End 20202023


The following table sets forth information concerning outstanding incentive unit awards madegranted by CVR Energy, as well as outstanding phantom unit awards granted pursuant to the UAN LTIP, as applicable,by CVR Partners, that were held by certain of the named executive officers as of December 31, 2020.2023. All of the outstanding shares or units reflected below are subject to accelerated vesting under certain circumstances as described in more detail in the section titled “Change-in-Control and Termination Payments” below..
Equity Awards That Have Not Vested Equity Awards That Have Not Vested
NameNameAward TypeGrant Date (1)Number of Shares or UnitsMarket Value of Shares or Units (2)Name
Award Type (1)
Grant DateNumber of Shares or Units
Market Value of Shares or Units (2)
David L. LampDavid L. LampIncentive Units12/14/1813,217$253,106 
Incentive Units12/13/1921,824351,366 
Incentive Units12/09/20134,1681,999,103 
Tracy D. JacksonIncentive Units12/14/184,599$88,071 
Incentive Units12/13/197,973128,365 
Incentive Units12/9/2050,536752,986 
Incentive Units
Incentive Units
Dane J. Neumann
Incentive Units
Incentive Units
Mark A. PytoshMark A. PytoshPhantom Units12/14/185,661$113,333 
Incentive Units12/14/183,77172,215 
Phantom Units12/13/1912,795204,976 
Incentive Units12/13/196,413103,249 
Phantom Units12/9/2093,2881,494,474 
Incentive Units12/9/2040,608605,059 
Incentive Units
Phantom Units
Incentive Units
Phantom Units
Incentive Units
Melissa M. BuhrigMelissa M. BuhrigIncentive Units12/14/185,287$101,246 
Incentive Units12/13/198,948144,063 
Incentive Units12/9/2057,781860,937 
David L. LandrethIncentive Units12/14/184,546$87,056 
Incentive Units12/13/197,726124,389 
Incentive Units12/9/2048,926728,997 
Incentive Units
Incentive Units
Michael H. Wright
Incentive Units
Incentive Units
Incentive Units
(1)TheThese incentive or phantom units generally vest ratably in one-third annual incrementsinstallments in December of each of the three years following the Grant Date,date of grant, subject to the terms of the applicable award agreement.
(2)This column represents the number of unvested units outstanding on December 31, 2020,2023, multiplied by: (a) for incentive units issued on December 9, 2020, $14.90 (equal to the13, 2023, $30.30 (the December 31, 20202023, closing price of CVR Energy common stock (the “CVI Closing Price”)); (b) for incentive units issued on December 13, 2019, $16.1014, 2022, $34.80 (equal to the CVI Closing Price plus $1.20$4.50 in accrued dividends); (c) for incentive units issued on December 14, 2018, $19.158, 2021 and February 16, 2022, $39.60 (equal to the CVI Closing Price plus $4.25$9.30 in accrued dividends); (d) for phantom units issued on December 9, 2020 and December 13, 2019, $16.022023, $65.50 (equal to the December 31, 20202023 closing price of CVR Partners’ common units (the “UAN Closing Price”)); and (e) for phantom units issued on December 14, 2018, $20.022022, $92.12 (equal to the UAN Closing Price, plus $4.00$26.62 in accrued distributions which has been adjusteddistributions); and (f) for phantom units issued on December 8, 2021, $111.44 (equal to reflect the 1-for-10 reverse split of CVR Partners’ common units that was completed on November 23, 2020, pursuant to which each ten common units of CVR Partners were converted into one common unit of CVR Partners (the “Reverse Unit Split”))UAN Closing Price, plus $45.94 in accrued distributions).






3839



Equity Awards Vested During Fiscal Year 20202023


This table reflects the portion of incentive unit awards madegranted by CVR Energy, as well as phantom units granted pursuant to the UAN LTIP and the CVRR LTIP,unit awards by CVR Partners, as applicable, that vested during 2020.2023.
Equity Awards
NameNumber of Shares or Units Acquired on VestingValue Realized
on Vesting
David L. Lamp13,217 $261,697 (1)
10,913 181,047 (2)
24,130 $442,744 
Tracy D. Jackson10,229 $123,362 (3)
4,600 91,080 (1)
3,987 66,144 (2)
18,816 $280,586 
Name
Name
Name
David L. Lamp
David L. Lamp
David L. Lamp
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
82,863
82,863
82,863
Dane J. Neumann
Dane J. Neumann
Dane J. Neumann
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
17,317
17,317
17,317
Mark A. PytoshMark A. Pytosh10,999 $143,207 (4)
Mark A. Pytosh
Mark A. Pytosh
Phantom Units
Phantom Units
Phantom Units
Incentive Units
Incentive Units
Incentive Units
Phantom Units
Phantom Units
Phantom Units
Incentive Units
Incentive Units
Incentive Units
Phantom Units
Phantom Units
Phantom Units
61,288
61,288
61,288
Melissa M. Buhrig
Melissa M. Buhrig
Melissa M. Buhrig
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
36,370
36,370
36,370
6,167 99,905 (5)(6)
3,771 74,666 (1)
5,662 88,780 (5)(6)
3,207 53,204 (2)
6,398 65,324 (7)
36,204 $525,086 
Melissa M. Buhrig13,357 $161,085 (3)
5,287 104,683 (1)
4,474 74,224 (2)
23,118 $339,992 
David L. Landreth12,747 $165,966 (4)
Michael H. Wright, Jr.
4,547 90,031 (1)
3,863 64,087 (2)
21,157 $320,084 
Michael H. Wright, Jr.
Michael H. Wright, Jr.
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
Incentive Units
20,136
20,136
20,136
(1)For incentive units for Messrs. Lamp, Pytosh, and Landreth and Mses. Jackson and Buhrig that vested during fiscal year 2020, theThe amount reflected includes a per unit value equal to (i) the average closing price of CVR Energy’s common stock in accordance with the agreement, and (ii) $14.19 in accrued dividends of $4.25 per unit.dividends.
(2)For incentive units for Messrs. Lamp, Pytosh, and Landreth and Mses. Jackson and Buhrig that vested during fiscal year 2020, theThe amount reflected includes a per unit value equal to (i) the average closing price of CVR Energy’s common stock in accordance with the agreement, and (ii) $9.30 in accrued dividends of $1.20 per unit.dividends.
(3)For incentive units for Mses. Jackson and Buhrig that vested during fiscal year 2020, theThe amount reflected includes a per unit value equal to (i) the fair market valueaverage closing price of CVRR’sCVR Energy’s common unitsstock in accordance with the agreement, and (ii) $4.50 in accrued distributions of $1.56 per unit.dividends.
(4)For incentive units for Messrs. Pytosh and Landreth that vested during fiscal year 2020, the amount reflected includes a per unit value equal to (i) the fair market value of CVRR’s common units in accordance with the agreement, and (ii) accrued distributions of $2.52 per unit.
(5)For UAN LTIP phantom units that vested during fiscal year 2020, theThe amount reflected includes a per unit value equal to (i) the average closing price of CVR Partners’ common units in accordance with the agreement, and (ii) accrued distributions of $4.00$50.59 per unit.
(6)Accrued(5)Phantom units and accrued distributions associated therewith have been adjusted to reflect the Reverse Unit Split.
(7)For UAN LTIP phantomreverse unit split of CVR Partners’ common units that vested during fiscal year 2020,was effective as of November 23, 2020.
(6)The amount reflected includes a per unit value equal to (i) the average closing price of CVR Partners’ common units in accordance with the agreement, and (ii) accrued distributions of $45.94 per unit.
(7)The amount reflected includes a per unit value equal to the average closing price of CVR Partners’ common units in accordance with the agreement.agreement, and (ii) accrued distributions of $26.62 per unit.

(8)The amount reflected includes a per unit value equal to (i) the average closing price of CVR Energy’s common stock in accordance with the agreement, and (ii) $4.80 in accrued dividends.




3940



Change-in-Control and Termination Payments


Certain of ourOur named executive officers are entitled to severance and other benefits from CVR Energy following the termination of their employment under certain circumstances.circumstances as follows:


David L. Lamp2021 Employment Agreement. Under his employment agreement, if Mr. Lamp’s employment is terminated due to death or disability, or by CVR Energy without cause and not in connection with a change in control, he (or his estate, in the event of termination due to death) is entitled to: (a) any accrued but unpaid amounts, plus (b) salary continuation for the lesser of six months and the remainder of the term of the employment agreement (such period, the “Lamp Post-Employment Period”), plus (c) a pro-rata bonus for the year in which termination occurs based on actual results. For terminations due to disability, Mr. Lamp is also entitled to disability benefits. If Mr. Lamp’s employment is terminated, either byhe may become entitled to the following benefits as more fully described in the 2021 Employment Agreement:
Reason for Employment Termination
Accrued
Amounts (1)
Severance Payments (2)
LTIP
Payout (3)
Incentive
Payment (4)
Death, Disability or Termination other than for cause or Resignation for good reason, in each case not in connection with a change-in-controlüüü
Resignation or Retirementü
Termination without cause or Resignation for good reason, in each case in connection with a change-in-control (5)
üüü
(1)Includes base salary earned but unpaid through date of termination or resignation, earned but unpaid Annual Bonus for completed fiscal years, unused accrued paid time off, unreimbursed expenses, accrued and vested rights or benefits under any CVR Energy without cause sponsored employee benefit plans.
(2)Includes continuation of base salary for the lesser of (i) six months, and (ii) the remainder of the term, plus a pro-rata Annual Bonus for the fiscal year of termination based on individual achievement and/or by Mr. LampCompany performance criteria for good reason (as these terms are definedsuch fiscal year, and/or in his employment agreement) withinthe case of termination due to disability, payments under CVR Energy’s disability plan(s).
(3)Includes the value of full vesting of any unvested incentive units (and accumulated dividend equivalent rights) but only if such incentive units were granted more than one year followingprior to the date of termination of employment, calculated based on the 10-day average closing price of a changeshare of CVR Energy common stock.
(4)Equal to $10 million.
(5)Termination or resignation is considered to be in controlconnection with a change-in-control if it is a Change-in-Control Related Termination (as defined in his 2021 Employment Agreement), which is a termination of employment agreement)other than for cause or a resignation for good reason, in specified circumstanceseach case occurring within the 120-day period prior to the change-in-control and in connection with a change in control, Mr. Lamp is entitledrelating to receivesuch change-in-control. For the Incentive Payment within 30 days followingavoidance of doubt, such benefits are conditioned upon the consummation of the change in control. Mr. Lamp does not receive any paymentsa change-in-control on or benefits in the event of retirement. prior to December 31, 2025.

As a condition to receiving these severance payments and benefits, Mr. Lamp must execute, deliver and not revoke a general release of claims and abide by restrictive covenants relating to non-solicitation and non-competition during Mr. Lamp’s employment term, and thereafter during the period he receives severance payments or supplemental disability payments, as applicable, or for six months following the end of the term (if no severance or disability payments are payable), as well as a perpetual restrictive covenant relating to non-disclosure and non-disparagement.non-disparagement and covenants relating to non-solicitation and noncompetition. If any payments or distributions due to Mr. Lamp under his employment agreement would be subject to the excise tax imposed under Section 4999 of the Code, then such payments or distributions will be “cut back” only if that reduction would be more beneficial to him on an after-tax basis than if there was no reduction. The meaning of all terms used, but not defined in this description of these benefits to which Mr. Lamp is entitled upon employment termination, are as defined in the 2021 Employment Agreement and are qualified thereby in the entirety.


Other Named Executive Officers. Mses. Jackson and Buhrig and CVI Severance Plan. Messrs. Neumann, Pytosh and LandrethWright and Ms. Buhrig do not have employment agreements. However, under the CIC andCVI Severance Plan, Mses. Jackson and Buhrig and Messrs. Neumann, Pytosh and LandrethWright and Ms. Buhrig are generally eligible for certain payments in the event of their involuntary termination (other than for cause, as defined
41


in the CIC andCVI Severance Plan) or their resignation for good reason (as defined in the CICCVI Severance Plan) in connection with a change-in-control, as follows:
Reason for Employment Termination
Accrued
Amounts (1)
Severance Payments (2)
Vesting Acceleration (3)
Involuntary termination (other than for cause) in connection with a change-in-control (4)
üüü
Resignation for good reason in connection with a change-in-control (4)
üüü
(1)The sum of any base pay earned but unpaid through the date of termination, any unused accrued paid time off in accordance with the applicable paid time off policy, any unreimbursed expenses in accordance with the applicable expense reimbursement policy, and Severance Plan), in each case,any accrued and vested rights or benefits under any CVR Energy sponsored employee benefits plans.
(2)The sum of (a) twelve (12) months of base pay, plus (b) the average of the annual bonuses actually paid during the three calendar years immediately preceding (or for such shorter period of time or 100% of target bonus, as applicable).
(3)Accelerated vesting as to 100% of any unvested incentive awards, calculated based on the 20-day average closing price of a share or common unit of CVR Energy or the Partnership, as applicable, plus any accrued dividends declared and paid through the vest date.
(4)Occurring within the 120 days preceding or the 24 months following a change in controlchange-in-control (as defined in the CIC andCVI Severance Plan) including any.

Payout of these amounts accrued prior to termination, plus a lump sum payment equal to twelve months of base salary plus the average annual bonus paid during the preceding three years (or target in the event of no bonus history). They are also entitled to acceleration of unvested equity awards. These payouts are subject to various conditions including the execution of a release agreement, a perpetual restrictive covenant relating to non-disclosure and non-disparagement and covenants relating to non-solicitation and non-competition for a period of 12 months.


The amounts of potential post-employment payments and benefits inAward Agreements. Under the table below assume that the triggering event took place on December 31, 2020. Pursuant to the Corporate MSA, CVR Partners or its general partner is responsible for the payment of its proportionate share of the CIC and Severance Plan.


40


Value of Post-Employment Payments and Benefits
 Cash SeveranceBenefit Continuation
 DeathDisabilityRetirementTermination without Cause or with Good Reason (4)DeathDisabilityRetirementTermination without Cause or with Good Reason (4)
    (1)(2)   (1)(2)
David L. Lamp (3)$693,101 $693,101 $193,101 $693,101 $10,000,000 $— $— $— $— $— 
Tracy D. Jackson— — — — 1,035,010 — — — — — 
Mark A. Pytosh— — — — 1,608,132 — — — — — 
Melissa M. Buhrig— — — — 1,183,875 — — — — — 
David L. Landreth— — — — 1,268,716 — — — — — 
(1)Reflects severance payments and benefits without a change-in-control.
(2)Reflects severance payments and benefits with a change-in-control.
(3)For Mr. Lamp, payments upon (a) death, disability, or termination without cause or resignation for good reason notaward agreements issued in connection with a change-in-control include: (i) base salary payable for six months under his employment agreement, plus (ii) a pro-rata bonus under the applicable bonus plan based on actual achievement, plus (iii) Accrued Amounts (as defined in his employment agreement),CVI LTIP and (b) termination without cause or resignation for good reason in connection with a change-in-control includes payout of the incentive payment set forth under his employment agreement.
(4)For all named executive officers other than Mr. Lamp, payments in the termination without cause or with good reason column include, under the CIC and Severance Plan, a lump sum of twelve months’ base pay plus the average of the preceding three years’ annual bonus (or current target in the absence of three-year bonus history).

CertainUAN LTIP, each of our named executive officers have receivedare also eligible for accelerated vesting of certain unvested incentive unit awards underunits upon the CVI LTIP, as well as phantom unit awards underevents described below. Upon such accelerated vesting, the UAN LTIP, each of which generally represents the right tonamed executive officers will receive upon vesting, a cash payment equal to (i) the number of units times the average closing price of a common share of CVR Energy or a common unit of CVR Partners, as applicable, for the ten trading days preceding vesting,the vest date, plus (ii) the per unit cash value of all dividends and distributions declared and paid by CVR Energy or distributions declared and paid by CVR Partners, as applicable, from the grant date to and including the vestingvest date. These awardsaward agreements generally provide for acceleration upon certain termination events, as follows:
For incentive units of CVR Energy granted to named executive officers,awards issued after February 21, 2022, if the incentive units or phantom units, as applicable, are cancelled or if such named executive officer (a) is terminated other than for cause, or (b) is terminated due to death or disability, then the portion of theany award scheduled to vest in the year in whichwithin twelve months of such event occurs becomes immediately vested and the remaining portion is forfeited. If
For awards issued before February 21, 2022, if the incentive units or phantom units, as applicable, are cancelled or if such named executive officer is terminated other than for cause or resigns for good reason in connection with a change-in-control all unvested awards accelerate.
For phantom units of CVR Partners issued to Mr. Pytosh, if Mr. Pytosh (a) is terminated other than for cause, or (b) is terminated due to death or disability, then the portion of theany award scheduled to vest in the year in which such event occurs becomesshall become immediately vested and the remaining portion is forfeited. If Mr. Pytosh is terminated other than for cause

Potential Payments upon Termination or resigns for good reasonChange in connection with a change-in-control all unvested awards accelerate.Control


The following table reflects the value of accelerated vesting of the unvested incentive units and phantom units, as applicable, held by theamounts payable to our named executive officers as a result of the hypothetical termination events outlined below assuming the triggering employment termination event took place on December 31, 2020. For the purposes of the incentive units awarded, the value is based on the 20-day average closing price for the CVR Energy common stock for the 20-trading days preceding December 31, 2020, or $15.19 per share, plus accrued dividends of $1.20 and $4.25, as applicable. For the purposes of phantom units awarded, the value is based on the 20-day average closing price for CVR Partners common units for the 20 trading days preceding December 31, 2020, or $13.80 per unit, plus accrued distributions of $4.00, as applicable.


4142



Value of Accelerated Vesting of Restricted Stock UnitDecember 31, 2023. The actual payments to which a named executive officer would be entitled may only be determined based upon the actual occurrence and Incentive Unit Awardscircumstances surrounding the termination.
Name and Severance BenefitName and Severance BenefitDeathDisabilityRetirementTermination without CauseResignation for Good Reason
(1) (1)DeathDisabilityRetirementTermination without Cause or with Good Reason (1)(2)(1)(2)
David L. Lamp
Benefits Continuation
Benefits Continuation
Benefits Continuation
Accrued Amounts (3)
Accelerated Vesting - Incentive Units (4)
Cash Severance (5)
Total Amount
   (1)(2)
David L. Lamp$— $— $— $— $2,652,646 
Tracy D. Jackson— — — — 987,725 
Dane J. Neumann
Dane J. Neumann
Dane J. Neumann
Benefits Continuation
Benefits Continuation
Benefits Continuation
Accelerated Vesting - Incentive Units (6)
Cash Severance (7)
Total Amount
Mark A. PytoshMark A. Pytosh— — — — 2,359,964 
Mark A. Pytosh
Mark A. Pytosh
Benefits Continuation
Benefits Continuation
Benefits Continuation
Accelerated Vesting - Phantom Units (8)
Accelerated Vesting - Incentive Units (6)
Cash Severance (7)
Total Amount
Melissa M. BuhrigMelissa M. Buhrig— — — — 1,127,131 
David L. Landreth— — — — 958,190 
Melissa M. Buhrig
Melissa M. Buhrig
Benefits Continuation
Benefits Continuation
Benefits Continuation
Accelerated Vesting - Incentive Units (6)
Cash Severance (7)
Total Amount
Michael H. Wright, Jr.
Michael H. Wright, Jr.
Michael H. Wright, Jr.
Benefits Continuation
Benefits Continuation
Benefits Continuation
Accelerated Vesting - Incentive Units (9)
Cash Severance (7)
Total Amount
(1)TerminationSeverance payments and benefits in the event of termination without cause or resignation for good reason not in connection with a change-in-control.change in control.
(2)TerminationSeverance payments and benefits in the event of termination without cause or resignation for good reason in connection with a change-in-control.change in control.

(3)Accrued Amounts represents, as defined in the 2021 Employment Agreement, Mr. Lamp’s earned but unpaid Annual Bonus under the 2023 CVI Plan.
(4)For Mr. Lamp, the accelerated vesting value upon death, disability, or termination without cause or resignation for good reason in connection with a change in control, represents (A) as defined in the 2021 Employment Agreement, the number of any unvested incentive units held as of December 31, 2023, that were granted more than one year prior thereto, multiplied by for incentive units awarded (i) on December 8, 2021, the average closing price for CVR Energy common stock for the 10-trading days preceding December 31, 2023, or $31.27 per share (the “CVI 10-day Average Price”), plus $9.30 in accrued dividends, and (ii) on December 14, 2022, the CVI 10-day Average Price, plus $4.50 in accrued dividends (the “LTIP Payout”), plus (B) for incentive units awarded on December 13, 2023 (after February 21, 2022), as defined in the award agreement, the number of any unvested incentive units scheduled to vest within twelve months from December 31, 2023, multiplied by the CVI 10-day Average Price. The accelerated vesting value upon resignation for good reason not in connection with a change in control is equal to the LTIP Payout. For the avoidance of doubt, as used herein, the term “LTIP Payout” is calculated as defined in Mr. Lamp’s 2021 Employment Agreement.
(5)For Mr. Lamp, the cash severance amount upon (A) death, disability, or termination without cause or resignation for good reason not in connection with a change in control represents, as defined in the 2021 Employment Agreement, 6-months of Base Salary; and (B) termination without cause or resignation for good reason in connection with a change in control
43


represents, the Incentive Payment. Provided that, in the case of payments upon disability, the 6-months of Base Salary may, in the event CVR Energy secures insurance to cover its obligations, be lower. Additionally, in the case of a termination event on a date other than December 31, Mr. Lamp would also be entitled to a Pro Rata Bonus. The terms Pro-Rata Bonus, Base Salary, and Incentive Payment are all as defined in the 2021 Employment Agreement.
(6)For Messrs. Neumann and Pytosh and Ms. Buhrig, the accelerated vesting value upon (A) death, disability, or termination without cause not in connection with a change in control, represents for incentive unit awards granted by CVR Energy on or after February 21, 2022, pursuant to the award agreement, the number of any unvested incentive units scheduled to vest within twelve months from December 31, 2023, multiplied by for incentive units awarded (i) on December 14, 2022, the CVI 10-day Average Price, plus $4.50 in accrued dividends, and (ii) on December 13, 2023, the CVI 10-day Average Price; and (B) termination without cause or resignation for good reason, both in connection with a change in control represents, pursuant to the CVI Severance Plan, the number of all unvested units outstanding on December 31, 2023, multiplied by, for incentive units awarded by CVR Energy (a) on December 8, 2021, the average closing price for CVR Energy common stock for the 20-trading days preceding December 31, 2023, or $31.07 per share (the “CVI 20-day Average Price”), plus $9.30 in accrued dividends, (b) on December 14, 2022, the CVI 20-day Average Price, plus $4.50 in accrued dividends, and (c) on December 13, 2023, the CVI 20-day Average Price.
(7)For Messrs. Neumann, Pytosh, and Wright and Ms. Buhrig, cash severance amounts upon termination without cause or resignation for good reason, both in connection with a change in control include, as defined under the CVI Severance Plan, a lump sum of twelve months’ base pay plus a sum equal to the average of the annual bonuses actually paid during the immediately preceding three full calendar years in which they served as a named executive officer.
(8)For Mr. Pytosh, the accelerated vesting value upon (A) death, disability, or termination without cause not in connection with a change in control, represents for phantom unit awards granted by the Partnership on or after February 21, 2022, pursuant to the award agreement, the number of any unvested phantom units scheduled to vest within twelve months from December 31, 2023, multiplied by for phantom units awarded (i) on December 14, 2022, the average closing price for Partnership common units for the 10 trading-days preceding December 31, 2023, or $68.88 per unit (the “UAN 10-day Average Price”), plus $26.62 in accrued distributions; and (ii) on December 13, 2023, the UAN 10-day Average Price; and (B) termination without cause or resignation for good reason, both in connection with a change in control, represents pursuant to the CVI Severance Plan, the number of all unvested phantom units outstanding on December 31, 2023, multiplied by, for phantom units awarded by the Partnership (i) on December 8, 2021, the average closing price for Partnership common units for the 20 trading-days preceding December 31, 2023, or $67.50 per unit (the “UAN 20-day Average Price”), plus $45.94 in accrued distributions, (ii) on December 14, 2022, the UAN 20-day Average Price plus $26.62 in accrued distributions, and (iii) on December 13, 2023, the UAN 20-day Average Price.
(9)For Mr. Wright, the accelerated vesting value upon (A) death, disability, or termination without cause not in connection with a change in control, represents for incentive unit awards granted by CVR Energy on or after February 21, 2022, pursuant to the award agreement, the number of any unvested incentive units scheduled to vest within twelve months from December 31, 2023, multiplied by for incentive units awarded (i) on December 14, 2022, the CVI 10-day Average Price, plus $4.50 in accrued dividends, and (ii) on December 13, 2023, the CVI 10-day Average Price; and (B) termination without cause or resignation for good reason, both in connection with a change in control represents, pursuant to the CVI Severance Plan, the number of all unvested units outstanding on December 31, 2023, multiplied by, for incentive units awarded by CVR Energy (i) on December 8, 2021 and February 16, 2022, the CVI 20-day Average Price, plus $9.30 in accrued dividends, (ii) on December 14, 2022, the CVI 20-day Average Price, plus $4.50 in accrued dividends, and (iii) on December 13, 2023, the CVI 20-day Average Price.


44


Pay Ratio


For 2020, we conducted a comparison of the median employee’s total annual compensation2023, to the total annual compensation of our Principal Executive Officer (“PEO”) Mr. Lamp.

We estimate that the median of the annual total compensation of all our employees and our consolidated subsidiaries (except our PEO) was $122,585 for 2020. The annual total compensation of Mr. Lamp, our PEO for 2020, as reported in the Summary Compensation Table included above, was $3,164,806 for 2020. This total and the pay ratio described below are reasonable estimates calculated in a manner consistent with Item 402(u) of Regulation S-K.

Based on this information, we estimate that the ratio of the annual total compensation of our PEO to the median of the annual total compensation of all employees for 2020 was: 26 to 1.

To identify the median of the annual total compensation of all our employees, as well as to determine the annual total compensation of our median employee and our PEO,Principal Executive Officer (“PEO”), Mr. Lamp, our President and Chief Executive Officer, we used the following methodology and made the following material assumptions, adjustments, and estimates:

(1)We determined that, for the year endedas of December 31, 2020,2023, the employee population of the Company and its consolidated subsidiaries consisted of 1,597 individuals.1,567 individuals, excluding our PEO.

(2)The “median employee” was identified as of December 31, 2020. To identify the “median employee” from the employee population, we compared the amount of annual total compensation of such employees for 20202023 determined in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K, which consisted of salary, bonus, non-equity incentive plan compensation and other compensation. We “annualized” the compensation of our full-time and part-time permanent employees as of December 31, 20202023, to adjust for the portion of the year that the employee did not work, if applicable. We did not make any cost-of-living adjustments in identifying the “median employee.”employee”.

(3)Once we identifiedTo identify the annual total compensation of our median employee, we included the elements of such employee’s compensation for 20202023 determined in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K, resulting in annual total compensationS-K.

Based on this methodology, we estimate that the ratio of $122,585. With respect to the annual total compensation of our PEO we usedto the median of the annual total compensation of all employees for 2023 was as follows:
Annual total compensation of Median Employee (1)
$130,603
Annual total compensation of PEO$4,500,834
PEO Pay Ratio34:1
(1)Excludes our PEO.

The totals and pay ratio described above are reasonable estimates calculated in a manner consistent with Item 402(u) of Regulation S-K.

45


Pay versus Performance

New SEC rules adopted in 2022 require us to disclose the following information regarding named executive officer compensation in relation to certain financial performance information about the Company. The Compensation Committee did not consider the pay versus performance disclosures below when making any of its named executive compensation decisions for any of the years shown.

2023 Pay versus Performance Table
CEO (1)
Other NEOs (1)
Value of Initial Fixed $100 Investment Based on:(in millions)
Year
Summary Compensation Table Total for CEO (2)
Compensation “Actually Paid” to CEO (3)
Average Summary Compensation Table Total for Non-CEO Named Executive Officers (2)
Average Compensation “Actually Paid” to Non-CEO Named Executive Officers (3)
Total Shareholder Return (4)
Peer Group Total Shareholder Return (5)
Net Income (Loss) (6)
Adjusted EBITDA (7)
2023$4,500,834 $5,326,807 $2,229,401 $2,530,474 $117 $161 $878 $1,164 
20224,320,837 7,652,325 2,041,230 3,691,411 106 134 644 1,369 
20213,910,359 4,620,202 1,330,721 2,353,266 49 73 74 301 
20203,164,806 1,592,473 1,755,011 1,170,816 39 54 (320)126 
(1)Our principal executive officer for each of the years indicated was our CEO, Mr. Lamp. Our named executive officers other than our CEO (“Other NEOs”) were as follows:
2023202220212020
Dane J. NeumannDane J. NeumannDane J. NeumannMark A. Pytosh
Mark A. PytoshMark A. PytoshMark A. PytoshMelissa M. Buhrig
Melissa M. BuhrigMelissa M. BuhrigMelissa M. BuhrigTracy Jackson*
Michael H. Wright, Jr.Michael H. Wright, Jr.C. Douglas JohnsonDavid Landreth*
Tracy Jackson*
David Landreth*
*    Ms. Jackson resigned in August 2021, and prior to her resignation was the Company’s Executive Vice President and Chief Financial Officer; Mr. Landreth retired in March 2021, and prior to his retirement served as the Company’s Executive Vice President and Chief Commercial Officer.
(2)Reflects, for our CEO, the total compensation reported in the Summary Compensation Table and for the Other NEOs, the average total compensation reported in the Summary Compensation Table in each of the years indicated.
(3)The compensation “actually paid” to our CEO and the average compensation “actually paid” to the Other NEOs in each of the years indicated has been computed in accordance with Item 402(v) of Regulation S-K. These amounts do not represent compensation actually earned, realized, or received by our CEO or the Other NEOs, but instead reflect the adjustments required by Item 402(v) of Regulation S-K to the amounts reported in the “Total” column of our 2020 Summary Compensation Table included herein, which was calculatedfor our CEO and the Other NEOs as detailed in the tables below in this note 3:
Compensation “Actually Paid” to CEO and Other NEOs
Year
As Reported in Summary Compensation Table (a)
Equity Award AdjustmentsTotal Compensation “Actually Paid”
TotalStock Awards
Year End Fair Value of Awards Granted During Year and Unvested as of Year End (b)
Year over Year Change in Fair Value of Awards Unvested for Entire Year (c)
Change in Fair Value of Awards that Vest when Granted in a Prior Year (d)
Accrued Distributions Paid at Vesting (e)
Forfeiture of Awards Granted in Prior Year (f)
CEO
2023$4,500,834 $(1,592,076)$1,580,600 $(54,186)$(30,659)$922,294 $— $5,326,807 
20224,320,837 (1,247,425)1,312,770 1,352,409 1,245,482 668,252 — 7,652,325 
20213,910,359 (1,196,795)1,219,280 191,682 89,723 405,953 — 4,620,202 
20203,164,806 (2,144,005)1,999,103 (894,597)(602,102)69,268 — 1,592,473 
46


Compensation “Actually Paid” to CEO and Other NEOs
Year
As Reported in Summary Compensation Table (a)
Equity Award AdjustmentsTotal Compensation “Actually Paid”
TotalStock Awards
Year End Fair Value of Awards Granted During Year and Unvested as of Year End (b)
Year over Year Change in Fair Value of Awards Unvested for Entire Year (c)
Change in Fair Value of Awards that Vest when Granted in a Prior Year (d)
Accrued Distributions Paid at Vesting (e)
Forfeiture of Awards Granted in Prior Year (f)
Other NEOs
2023$2,229,401 $(779,349)$782,206 $(82,404)$(310,246)$690,866 $— $2,530,474 
20222,041,230 (723,600)784,786 534,193 649,092 405,710 — 3,691,411 
20211,330,721 (436,378)442,793 788,633 444,708 91,482 (308,693)2,353,266 
20201,755,011 (1,071,212)1,110,613 (383,544)(300,042)59,990 — 1,170,816 
(a)Reflects, for our CEO, the applicable amounts reported in the Summary Compensation Table and for the Other NEOs, the average of the applicable amounts reported in the Summary Compensation Table in each of the years indicated.
(b)Reflects, with respect to our CEO, the fair value and with respect to the Other NEOs, the average of the fair values, as of the end of the covered year of awards granted in the covered year that remained outstanding and unvested (in whole or in part) as of the end of the covered year.
(c)Reflects, with respect to our CEO, the change in fair value, and with respect to the Other NEOs, the average change in fair values, from the end of the prior year to the end of the covered year of awards granted in a prior year that remained outstanding and unvested (in whole or in part) as of the end of the covered year.
(d)Reflects, with respect to our CEO, the change in fair value, and with respect to the Other NEOs, the average change in fair values, from the end of the prior year to the day awards became vested in the covered year, in accordance with the same requirementsaward agreements, when such awards were granted in a prior year.
(e)Reflects, with respect to our CEO, the value, and with respect to the Other NEOs, the average value of accrued distributions paid on the date awards became vested.
(f)Reflects, with respect to our CEO, the fair value, and with respect to the Other NEOs, the average of the fair values, as of the end of the prior year of awards that failed to vest and were forfeited in the covered year.
(4)For each covered year, represents the cumulative total stockholder return on an initial fixed $100 investment in CVR Energy common stock from December 31, 2019 through December 31 of each covered year.
(5)The “Peer Group TSR” set forth in this table utilizes a custom group of peer companies, which we also utilize in the stock performance graph required by Item 402(c)(2)(x)201(e) of Regulation S-K.S-K included in our 2023 Annual Report. This “Peer Group” is comprised of Delek US Holdings, Inc. (NYSE: DK); HF Sinclair Corporation (NYSE: DINO); Marathon Petroleum Corp. (NYSE: MPC); Par Pacific Holdings, Inc. (NYSE: PARR); PBF Energy Inc. (NYSE: PBF); and Valero Energy Corporation (NYSE: VLO). For each covered year, represents the cumulative total stockholder return on an initial fixed $100 investment in the Peer Group from December 31, 2019 through December 31 of each covered year.

(6)Represents the amount of Net Income reflected in our consolidated financial statements for each covered year.
(7)The Company determined Adjusted EBITDA to be the most important financial performance measure used to link Company performance to compensation “actually paid” to our CEO and the Other NEOs in 2023. Adjusted EBITDA is a non-GAAP financial measure. For an explanation of how we use Adjusted EBITDA and a reconciliation, please see “Non-GAAP Reconciliations” in Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations in the 2023 Annual Report. This performance measure may not have been the most important financial performance measure for years 2022, 2021, and 2020, and we may determine a different financial performance measure to be the most important financial performance measure in future years.

2023 Pay Versus Performance Relationships

The following graphical comparisons illustrate the relationships of the compensation “actually paid” to the CEO and the average compensation “actually paid” to the Other NEOs to (i) CVR Energy’s TSR and the Peer Group TSR, (ii) CVR Energy’s net income, and (iii) Adjusted EBITDA.
4247


5225
5227
48


5229

Tabular List of Most Important Financial Performance Measures

The table below contains an unranked list of the most important financial performance measures we use to link executive compensation “actually paid” to performance.

Adjusted EBITDA
TSR
Operational Reliability
49



PROPOSAL 2
Advisory Vote on Named Executive Officer CompensationAPPROVE, ON AN ADVISORY BASIS, OUR NAMED EXECUTIVE OFFICER COMPENSATION
(“Say-on-Pay”)

THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR THE APPROVAL, ON AN ADVISORY BASIS, OF OUR
NAMED EXECUTIVE OFFICER COMPENSATION

Pursuant to Section 14A of the Exchange Act, we are asking stockholders to approve, on an advisory basis, the compensation of our named executive officers as disclosed under “Compensation Discussion and Analysis,” the Summary Compensation Table, and the related compensation tables, notes, and narratives in this Proxy Statement.


Although this vote is non-binding,Recommendation of the Compensation Committee values your opinion and expects to consider the voting results when making future decisions on named executive officer compensation. We currently intend to conduct advisory votes on named executive compensation annually, until the next required non-binding advisory vote on the frequency of future advisory votes on named executive compensation.Board


As described in the “Compensation Discussion and Analysis” section of this Proxy Statement, our Compensation Committee has established executive compensation programs that are based on our pay-for-performance philosophy designed primarily with the following goals in mind:


Aligning named executive officer and stockholder interests,
Attracting and retaining quality leadership; and
Supporting a pay-for-performance philosophy.


Please read the “Compensation Discussion and Analysis” contained herein, along with the Summary Compensation Table and the related compensation tables, notes, and narratives, which describes in greater detail our compensation philosophy and programs, as well as detailed information on the compensation of our named executive officers. The affirmative vote of a majority of the votes present in person (virtually) or by proxy and entitled to vote at the Annual Meeting is required for this proposal to be approved. The Board of Directors recommends you approve the following resolution:


“RESOLVED, that the compensation paid to our named executive officers, as disclosed pursuant to Item 402 of Regulation S-K, including in the Compensation Discussion and Analysis, compensation tables, and narrative discussion, is hereby APPROVED.”


THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR THE APPROVAL, ON AN ADVISORY BASIS, OF OUR NAMED EXECUTIVE OFFICER COMPENSATIONVote Required

Please indicate your vote “FOR” or “AGAINST” the foregoing resolution approving the compensation paid to our named executive officers for 2023, or you may choose to “ABSTAIN” from voting on this issue. If you “ABSTAIN” from voting with respect to this Proposal 2, it has the same effect as a vote “AGAINST” the proposal. The option that receives the affirmative vote of a majority of the votes present in person or by proxy and entitled to vote at the Annual Meeting will be approved on an advisory basis.

Advisory Vote

This vote is advisory, and will not be binding on the Company, our Board or our Compensation Committee. Although this vote is advisory and non-binding, the Compensation Committee values your opinion and expects to consider the voting results when making future decisions on named executive officer compensation. We currently intend to conduct advisory votes on named executive compensation annually.




4350



AUDIT COMMITTEE REPORT


At the beginning of 2020,During 2023, the Audit Committee consisted of Messrs. Jaffrey A. Firestone, Stephen A. Mongillo, Bob G. Alexander, and James M. Strock, each of whom was affirmatively determined by our Board to be “independent” and “financially literate” under the rules and regulations of the NYSE and the SEC, as applicable. Mr. Alexander passed away on April 5, 2020, and on April 15, 2020, the Board appointed Mr. Firestone to the Board and its Audit Committee. Mr. Firestone has been affirmatively determined by our Board to be “independent” and “financially literate” under the rules and regulations of the NYSE and the SEC, as applicable. The Audit Committee is led by its Chairman, Mr. Mongillo, who has been affirmatively determined by our Board to be an “audit committee financial expert” under the requirements of the NYSE. Among other matters, the Audit Committee oversees:
Management’s preparation, presentation, and integrity of our financial statements, accounting and financial reporting principles, and the establishment and effectiveness of internal controls and procedures designed to assure compliance with accounting standards and applicable laws and regulations; and
The independent audit of the Company’s consolidated financial statements by its independent registered public accounting firm, Grant Thornton LLP (“Grant Thornton”), which is responsible for performing the audit in accordance with the standards of the Public Company Accounting Oversight Board (“PCAOB”); opining whether the financial statements fairly present, in all material respects, the financial position, results of operations, and cash flows of the Company in conformity with generally accepted accounting principles (“GAAP”); and auditing the effectiveness of internal control over financial reporting.

However, the Audit Committee is not providing any expert or special assurance as to the Company’s financial statements or any professional certification as to the independent auditors’ work, and relies without independent verification on the information provided toit and on the representations by management and Grant Thornton.


The Audit Committee conducted four meetings during 2020,2023, and also held informal meetings with management, the internal auditors, and our independent auditor, Grant Thornton LLP (“Grant Thornton”), during 2020.2023. Among other matters, the Audit Committee:
Discussed with the Company’s internal auditors and Grant Thornton the overall scope and plans for their respective audits and the results of their examinations and evaluations of the Company’s internal controls;
Reviewed and discussed the audited consolidated financial statements contained in the Company’s 20202023 Annual Report and matters related to Section 404 of the Sarbanes-Oxley Act with management and Grant Thornton and received the opinion of both that the Company prepared its consolidated financial statements in accordance with GAAP;generally accepted accounting principles (“GAAP”);
Discussed with Grant Thornton its independence and matters required to be discussed with the audit committees under GAAP including, among other things, matters related to the conduct of the audit of the Company’s consolidated financial statements and the matters required to be discussed by Auditing Standard No. 16 (codified as Auditing Standard No. 1301) “Communication with Audit Committees”, as amended, supplemented or superseded, as adopted by the PCAOB;Public Company Accounting Oversight Board (“PCAOB”);
Received the written disclosures and letter from Grant Thornton required by applicable requirements of PCAOB Rule 3526 regarding the independent auditor’s communications with the Audit Committee concerning independence and the advice of Grant Thornton that neither it nor any of its members has any financial interest, direct or indirect, in any capacity in the Company or its subsidiaries; and
Reviewed the audit and non-audit services performed by and the amount of fees paid for such services to Grant Thornton and considered whether Grant Thornton’s provision of services to the Company beyond those rendered in connection with its audit and reviews of the Company’s consolidated financial statements was compatible with maintaining its independence.


However, the Audit Committee is not providing any expert or special assurance as to the Company’s financial statements or any professional certification as to the independent auditors’ work and relies without independent verification on the information provided toit and on the representations by management and Grant Thornton.

Based on the foregoing review, discussions, and other matters the Audit Committee deemed relevant and appropriate, the Audit Committee recommended to the Board that the audited financial statements of the Company be included in its 20202023 Annual Report for filingfiled with the SEC. The Audit Committee also approved the engagement of Grant Thornton as the Company’s independent auditors for 2020. This report is respectfully submitted by the Audit Committee.

Audit Committee
Stephen Mongillo, Chairman
Jaffrey A. Firestone
James M. Strock
April 17, 2024April 23, 2021

44
51




FEES PAID TO THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM


Grant Thornton has served as the Company’s independent registered public accounting firm since August 2013. The following table presents fees billed by Grant Thornton to the Company and its subsidiaries for professional services and other services in the following categories and amounts for the fiscal years ended December 31, 20202023 and 2019:2022:
20202019
202320232022
Audit Fees (1)Audit Fees (1)$2,045,058 $1,989,237 
Audit-Related Fees (2)Audit-Related Fees (2)32,086 49,789 
Tax FeesTax Fees— — 
All Other Fees14,155 — 
All Other Fees (3)
Total Fees BilledTotal Fees Billed$2,091,299 $2,039,026 
(1)Audit Fees consist of fees for the audit of the Company’s consolidated annual financial statements filed with the SEC, quarterly reviews of the financial statements included in the Company’s Quarterly Reports on Form 10-Q, attestation of management’s assessment of internal control as required by Section 404 of the Sarbanes-Oxley Act, and consents and consultations on financial accounting and reporting standards arising during the course of audits, reviews, and filings. In addition, these amounts include fees for the annual audit and quarterly reviews of the Company’s affiliates, CVRR andaffiliate, CVR Partners, as applicable.Partners.
(2)Audit-Related Fees consist of fees for audit-related services of subsidiary entities and benefit plan audits.
(3)All Other Fees consist of fees for consultations on matters arising outside the course of audits, reviews, filings, and agreed upon procedures performed for statutory reporting and benefit plan audits.


The Audit Committee has considered whether the non-audit services provided by Grant Thornton were compatible with maintaining Grant Thornton’s independence and has determined that the nature and substance of the limited non-audit services did not impair the status of Grant Thornton as the Company’s independent registered public accounting firm during the firm’s appointment as the Company’s independent auditor.


Audit Committee’s Pre-Approval Policies and Procedures


Allof the services performed by the independent auditor in 2020 were pre-approved in accordance with the pre-approval policyOur policies and procedures adopted byfor pre-approval of audit services and permitted non-audit services require that the Audit Committee. Our Audit Committee charter, among other things, requires the Audit Committee to approve in advance all audit and permitted non-audit services provided by our independent registered public accounting firm and also requires the Audit Committee to establish periodically and to approve in advance the fee levels for all services performed by the independent auditor. The Audit Committee has also authorized any Audit Committee member to pre-approve audit, audit-related, tax, and other non-audit services up to $100,000, provided that the committee member shall timely report to the full committee each specific service pre-approved by them with copies of allsupporting documentation. Allof the services performed by the independent auditor in 2023 were pre-approved in accordance with the pre-approval policy and procedures adopted by the Audit Committee.
4552



PROPOSAL 3
RatificationRATIFY THE APPOINTMENT OF OUR INDEPENDENT AUDITOR FOR 2024

THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR THE RATIFICATION OF GRANT THORNTON LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2024.

Our Audit Committee is responsible for appointing, replacing, compensating and overseeing the work of our independent auditor. Grant Thornton LLP (“Grant Thornton”), an independent registered accounting firm, has served as the Company’s independent auditor since August 2013. See “Audit Committee Report” above for further information.

Recommendation of the Appointment of AuditorsBoard


The Audit Committee has approved and recommended the appointment ofappointed Grant Thornton LLP as theour independent registered public accounting firmauditor to audit our books and accounts and to examine the Company’s financial statements for 2021.the year ending December 31, 2024. The Board has directed that this appointment be submitted to our stockholders for ratification at the Annual Meeting. We expect a representative of Grant Thornton to be in attendance at the Annual Meeting.

Vote Required

Please indicate your vote “FOR” or “AGAINST” the ratification of Grant Thornton as the Company’s independent registered public accounting firm for 2024, or you may choose to “ABSTAIN” from voting on this issue. If you “ABSTAIN” from voting with respect to this Proposal 3, it has the same effect as a vote “AGAINST” the proposal. The option that receives the affirmative vote of a majority of the votes present in person or by proxy and entitled to vote at the Annual Meeting will be approved. The persons named in the accompanying proxy will vote in accordance with the choice specified thereon, or, if no choice is properly indicated, in favor of the ratification of Grant Thornton LLP as the independent registered public accounting firm for the Company. A representative of Grant Thornton LLP is expected to be in attendance at the Annual Meeting.


See “Audit Committee Report” above for further information.


THE BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE FOR THE RATIFICATION OF GRANT THORNTON LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2021.




4653



EQUITY COMPENSATION PLANS


The table below contains information about securities authorized for issuance under the CVI LTIP or as otherwise approved by the Compensation Committee as of December 31, 2020.2023. The CVI LTIP was initially approved by our stockholders in October 2007 and re-approved by our stockholders in June 2014 and June 2017.
Equity Compensation Plan Information
Plan CategoryNumber of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a) (1)Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights (b)Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in (a)) (c)
Equity compensation plans approved by security holders:
CVR Energy, Inc. Long Term Incentive Plan— $— 6,787,341 (2)
Equity compensation plans not approved by security holders:
None— — — 
Total— $— 6,787,341 

Equity Compensation Plan Information (1)
Plan CategoryNumber of Securities to be Issued Upon Exercise of Outstanding Options, Warrants and Rights (a)Weighted-Average Exercise Price of Outstanding Options, Warrants and Rights (b)Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in (a)) (c)
Equity compensation plans approved by security holders:
CVR Energy, Inc. Long Term Incentive Plan— $— 6,787,341 (2)
Equity compensation plans not approved by security holders:
None— — — 
Total— $— 6,787,341 
(1)The onlyAs of December 31, 2023, there are no outstanding awards outstanding under the CVI LTIP, and the only incentive unit awards outstanding and unvested are unvested incentive units, which areto be settled in cash.cash and are issued in connection with, and not under, the CVI LTIP.
(2)Represents shares of common stock that remain available for future issuance pursuant to the CVI LTIP in connection with awards of stock options, non-vested restricted shares, restricted stock units, stock appreciation rights, dividend equivalent rights, share awards, and performance awards.


4754



SECURITIES OWNERSHIP OF CERTAIN
BENEFICIAL OWNERS AND OFFICERS AND DIRECTORS


The following table presents information regarding beneficial ownership of our common stock as of the Record Date, unless otherwise noted, by:
each of our current directors and nominees for director;
each of our named executive officers;
each stockholder known by us to beneficially hold five percent or more of our common stock; and
all of our named executive officers and directors as a group.


Beneficial ownership is determined under the rules of the SEC and generally includes voting or investment power with respect to securities. Unless indicated below, to our knowledge, the persons and entities named in the table have sole voting and sole investment power with respect to all shares beneficially owned by them, subject to community property laws where applicable. Except as otherwise indicated, the business address for each of the beneficial owners listed in the table is c/o CVR Energy, Inc., 2277 Plaza Drive, Suite 500, Sugar Land, Texas 77479.
Beneficial Owner NameShares Beneficially Owned
NumberPercent (1)
Carl C. Icahn (2)71,198,718 70.8 %
Patricia A. Agnello— — 
SungHwan Cho (3)— — 
Kapiljeet Dargan (3)— — 
Jaffrey A. Firestone (4)— — 
Jonathan Frates— — 
Hunter C. Gary— — 
David L. Lamp— — 
Stephen Mongillo— — 
James M. Strock— — 
Melissa M. Buhrig— — 
Tracy D. Jackson— — 
C. Douglas Johnson (5)— — 
Mark A. Pytosh— — 
David L. Landreth (6)6,968 *
All directors and named executive officers, as a group (14 persons) (7)6,968 *
Beneficial Owner NameShares Beneficially Owned
Number
Percent (1)
Carl C. Icahn (2)
66,692,381 66.3 %
Dustin DeMaria— — 
Jaffrey A. Firestone— — 
David L. Lamp— — 
Stephen Mongillo— — 
Ted Papapostolou— — 
Mark J. Smith— — 
James M. Strock— — 
Melissa M. Buhrig— — 
Dane J. Neumann— — 
Mark A. Pytosh— — 
Michael H. Wright, Jr.— — 
All directors and named executive officers, as a group (11 persons)— — 
*Less than 1%
(1)Percentage based upon 100,530,599 shares of common stock outstanding as of March 31, 2021.April 1, 2024.
(2)The following disclosures are based on a Schedule 13D/A filed with the SEC on August 1, 2018March 18, 2024, by IEP Energy Holding LLC (“IEP Energy”), IEP Energy Holding LLC, American Entertainment Properties Corp. (“AEP”), Icahn Building LLC, Icahn Enterprises Holdings L.P. (“Icahn Enterprises Holdings”), Icahn Enterprises G.P. Inc. (“Icahn Enterprises GP”), Beckton Corp. (“Beckton”) and Carl C. Icahn (collectively, the “Icahn Reporting Persons”): (a) The principal business address of each of (i) IEP Energy, IEP Energy Holding LLC, AEP,the Icahn Building LLC, Icahn Enterprises Holdings, Icahn Enterprises GP and BecktonReporting Persons is White Plains Plaza, 445 Hamilton16690 Collins Avenue, - Suite 1210, White Plains, NY 10601 and (ii) Mr. Icahn is c/o Icahn Associates Holding LLC, 767 Fifth Avenue, 47th Floor, New York, NY 10153.PH-1, Sunny Isles Beach, FL 33160. According to the filing, IEP Energy has sole voting power and sole dispositive power with regard to 71,198,71851,192,381 shares. Each of IEP Energy Holding LLC, AEP, Icahn Building LLC, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Carl C. Icahn has shared voting power and shared dispositive power with regard to such shares. (b) According to the filing, each of IEP Energy Holding LLC, AEP, Icahn Building LLC,In addition, Icahn Enterprises Holdings has sole voting power and sole dispositive power with regard to 15,500,000 shares. Each of Icahn Enterprises GP, Beckton and Carl C. Icahn by virtue of their relationshipshas shared voting power and shared dispositive power with regard to IEP, may be deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 under the Exchange Act) the shares which IEP Energy directly beneficially owns. Each of IEP Energy Holding LLC, AEP, Icahn Building LLC, Icahn Enterprises Holdings, Icahn Enterprises GP, Beckton and Carl C. Icahn disclaims beneficial ownership of such shares for all other purposes.
(3)Effective on April 20, 2021, Mr. Cho resigned from the Board, and Mr. Dargan was appointed to the Board.
(4)Mr. Firestone was appointed to the Board on April 15, 2020.
(5)Mr. Johnson was appointed as an executive officer in March 2021.
(6)Mr. Landreth retired as an executive officer in March 2021.
(7)The number of shares of common stock owned by all directors and named executive officers, as a group, reflects the sum of the 6,968 shares of CVR Energy common stock held by Mr. Landreth.shares.
4855



CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS


This section describes related party transactions between the Company and its directors, executive officers, and 5% stockholders (and entities controlled by such persons, including CVR Partners) that occurred during the year ended December 31, 2020 and as otherwise described herein.2023.


Transactions with IEP and its Affiliates


As of December 31, 2020,2023, IEP and its affiliates owned approximately 70.8%66% of allour outstanding common shares outstanding.stock.

Tax Allocation Agreement

Prior to August 2018, CVR Energy was a member of the consolidated federal tax group of American Entertainment Properties Corp (“AEP”), an affiliate of IEP, and party to a tax allocation agreement with AEP (the “Tax Allocation Agreement”) under which AEP would pay all consolidated federal income taxes on behalf of the consolidated tax group. As a result, CVR Energy was required to make payments to AEP in an amount equal to the tax liability, if any, that it would have paid if it were to file as a consolidated group separate and apart from AEP.

Following August 2018, IEP and affiliates’ ownership of CVR Energy was reduced below 80% and, since that time, CVR Energy is no longer eligible to file as a member of the AEP consolidated federal income tax group. Beginning with the tax period following August 2018, CVR Energy became the parent of a new consolidated group for U.S. federal income tax purposes and files and pays its federal income tax obligations directly to the IRS. However, under the Tax Allocation Agreement, CVR Energy may be required to make payments in respect of taxes owed by AEP for periods prior to the exchange. Similar principles may apply for state or local income tax purposes where CVR Energy filed combined, consolidated, or unitary tax returns with AEP. As of December 31, 2020 and 2019, the Company’s Consolidated Balance Sheets reflected a nominal payable for federal income taxes due to AEP. As of December 31, 2020 and 2019, the Company’s Consolidated Balance Sheets also reflected a receivable of $44 million from and a payable of $20 million to, respectively, the IRS and certain state jurisdictions.

Insight Portfolio Group (“ISG”)

From January 2013, CVR Energy held a minority interest in ISG, an entity formed and controlled by Mr. Icahn in order to maximize the potential buying power of a group of entities with which Mr. Icahn has a relationship in negotiating with a wide range of suppliers of goods, services, and tangible and intangible property at negotiated rates, and agreed to pay a portion of ISG’s operating expenses. On January 23, 2020, CVR Energy assigned its minority interests to a third-party and terminated its agreement relating to ISG. As a result, it did not pay any fees to ISG during the year ended December 31, 2020.


Transactions with Other Affiliates


Enable Pipeline Joint Venture


OnSeptember 19, 2016, Coffeyville Resources Pipeline, LLC (“CRPLLC”Through our subsidiaries, we own a 40% interest in a joint venture (the “Enable JV”), an indirect wholly-owned subsidiary of CVRR, entered into an agreement with Enable Oklahoma Crude Services, LLC (“Enable”), formerly Velocity Central Oklahoma Pipeline LLC, related to their joint ownership of Enable South Central Pipeline, LLC (“Enable Pipeline”), formerly Velocity Pipeline Partners, LLC, a pipeline company thatwhich operates a 12-inch 26-mile crude oil pipeline with a capacity of approximately 115,00080,000 barrels per day and an estimated length of 26 miles with a connectionthat is connected to the Company’s Wynnewood Oklahoma refinery and a trucking terminal at Lowrance, Oklahoma. CRPLLC holds a 40% interest in Enable Pipeline. Enable holds aRefinery. As of December 2021, the remaining 60% interest in the Enable Pipeline andJV is owned by a subsidiary of Energy Transfer LP, which also serves as the day-to-day operator.operator of the pipeline owned by the Enable JV.


Coffeyville Resources Refining & Marketing, LLC (“CRRM”), also an indirect wholly-owned subsidiary of CVRR, isThrough our subsidiaries, we are party to a transportation agreement, witheffective September 19, 2016, as part of the Enable JV for an initial term of 20 years under which the Enable JV provides CRRM with crude oil transportation services for crude oil purchased within a defined geographic area, and CRRMarea. Additionally, we entered into a terminalling services agreement, effective September 19, 2016, with the Enable JV under which it receiveswe receive access to Enable’sEnable JV’s terminal in Lowrance,Lawrence, Oklahoma to unload and pump crude oil into Enable Pipeline’sJV’s pipeline for an initial term of 20 years. For the year ended December 31, 2020, CRRM2023, we incurred costs of $11$12 million under the transportation agreement with Enable. As of December 31, 2020,2023, the Consolidated Balance Sheets of the Company included a liability of $1 million to Enable.the Enable JV.
49




Midway Joint Venture


On October 31, 2017, CRPLLC and Plains All American Pipeline, L.P. (“Plains”) formedThrough our subsidiaries, we own a 50/5050% interest in a joint venture Midway Pipeline LLC (“Midway”(the “Midway JV”), which acquired the approximately 100 mile,operates a 16-inch Cushing to Broome99-mile crude oil pipeline system from Plains with a capacity of approximately 150,000131,000 barrels per day. The Cushing to Broome pipeline systemday which connects the Company’s Coffeyville, Kansas refinery (“Coffeyville Refinery”) to the Cushing, Oklahoma oil hub. The remaining 50% interest in Midway has a contract withJV is owned by Plains pursuant toPipeline, L.P., which Plains will continue its rolealso serves as the operator of the pipeline. For the year ended December 31, 2020, CRRM2023, we incurred costs of $17$24 million from crude oil transportation services incurred on the pipeline owned by the Midway pipelineJV, through Vitol, Inc. as the intermediary purchasing agent. On January 1, 2024, we began utilizing a new crude oil purchasing intermediary, Gunvor USA LLC, to purchase the majority of our non-gathered crude oil inventory for the refineries.


CVR Partners Joint Venture

In January 2023, CVR Partners and its subsidiary, Coffeyville Resources Nitrogen Fertilizers, LLC (“CRNF”), entered into a series of agreements with CapturePoint LLC, an unaffiliated Texas limited liability company, and certain unaffiliated third-party investors intended to qualify under the IRS safe harbor, described in Revenue Procedure 2020-12, for certain joint ventures that are eligible to claim certain tax credits under Section 45Q of the Internal Revenue Code of 1986, as amended (“Section 45Q Credits”) and allow us to monetize Section 45Q Credits we expect to generate from January 6, 2023 until March 31, 2030 (the “45Q Transaction”) for certain carbon oxide capture and sequestration activities conducted at or in connection with CVR Partners’ Coffeyville nitrogen fertilizer facility (“Coffeyville Fertilizer Facility”). Among other items, the 45Q Transaction resulted in the creation of CVR-CapturePoint Parent LLC (“CVRP JV”) in which CVR Partners has a 50% interest. For the year ended December 31, 2023, we received distributions of $21 million.

Transactions with CVR Partners and CVRR


Background


Prior to our initial public offering, we created and transferred our nitrogen fertilizer business to CVR Partners, and in April 2011, CVR Partners consummated its initial public offering. To effectuate CVR Partners’ initial public offering, the general and limited partners of CVR Partners entered into a new limited partnership agreement, and
56


CVR Energy or its subsidiaries entered into a series of new agreements, and amended and restated certain of our existing intercompany agreements with CVR Partners and Coffeyville Resources Nitrogen Fertilizers, LLC (“CRNF”).CRNF. These agreements were not the result of arm’s-length negotiations, and the terms of these agreements are not necessarily at least as favorable to the parties to these agreements as terms which could have been obtained from unaffiliated third parties.


Omnibus Agreement


CVR Energy isWe are party to an omnibus agreement with CVR Partners and its general partner, pursuant to which CVR Partners has agreed that CVR Energywe will have a preferential right to acquire any assets or group of assets that do not constitute assets used in a fertilizer restricted business. In determining whether to exercise any preferential right under the omnibus agreement, CVR Energywe will be permitted to act in itsour sole discretion, without any fiduciary obligation to CVR Partners or its unitholders whatsoever. These obligations will continue so long as CVR Energy ownswe own at least 50% of CVR Partners’ general partner. There was no activity reported under this agreement during the year ended December 31, 2020.2023.


Coffeyville MSA


Effective January 1, 2020, the Conflicts Committee of the board of directors of the general partner of CVR Partners and the Audit Committee of CVR Energy approved, and a subsidiary of CVR Partners, CRNF, and CRRM entered into, the Coffeyville Master Service Agreement (the “Coffeyville MSA”), which is composed of various supply and service agreements effectively replacing, on substantially equivalent terms, other related party agreements in place during 2019 and 2018 (the “Replaced Coffeyville Agreements”). In addition to affirming the terms and services described in the Replaced Coffeyville Agreements and resetting the durations thereof, as applicable, commencing January 1, 2020, theThe Coffeyville MSA provides for monthly payments, subject to netting, for all goods and services supplied under the Coffeyville MSA. The Coffeyville MSA will continueand is in effect until terminated in writing, in whole or in part, by either party, or until terminated automatically in the event a party falls out of common control with the other party. The Coffeyville MSA provides the following services:


Cross Easements - Both CRNFa subsidiary of CVR Energy (the “CVR Energy Subsidiary”) and CRRMCRNF can access and utilize each other’s land in certain circumstances in order to operate their respective businesses.


Hydrogen Purchase and Sale - CRRMThe CVR Energy Subsidiary agrees to sell and deliver a committed hydrogen volume of 90,000 mscf per month to CRNF, and CRNF agrees to purchase and receive the committed volume. CRNF also has the option to purchase excess volume from CRRM,the CVR Energy Subsidiary, if available.


Raw Water and Facilities Sharing - CRNFThe CVR Energy Subsidiary and CRRMCRNF are each owners of an undivided one-half interest in and to certainthe water rights and agree to (i) allocate raw water resources between our Coffeyville Refinery and CVR Partners’ Coffeyville nitrogen fertilizer facility (“Coffeyville Fertilizer Facility”)Facility and (ii) provide for the management of the water intake system which draws raw water from the Verdigris River for both our Coffeyville FacilityRefinery and the Coffeyville Fertilizer Facility.


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Pet Coke Supply - Our Coffeyville Refinery sells pet coke to CRNF for its Coffeyville Fertilizer Facility, and in connection with such commitment, CRRMThe CVR Energy Subsidiary must deliver and CRNF must purchase, during each calendar year an annual required amount of pet coke equal to the lesser of (i) 100 percent of the pet coke or (ii) 500,000 tons of pet coke. If during a calendar month, more than 41,667 tons of pet coke is produced and available for purchase, then CRNFThe Coffeyville Fertilizer Facility has the option to purchase theany excess of pet coke production at the purchase price provided for in the agreement. If the option is declined, CRRM may sell the excess to a third-party.


Feedstock and Shared Services - CRNFThe CVR Energy Subsidiary and CRRMCRNF provide feedstock and other services to one another. These feedstocks and servicesanother which are utilized in the respective production processes at each of our Coffeyville Refinery and the Coffeyville Fertilizer Facility. Feedstocks provided under the agreement include, among others, hydrogen, high-pressure steam, nitrogen, instrument air, oxygen, and natural gas.their respective facilities.


Lease - CRNF leases certain office and laboratory space from CRRM.the CVR Energy Subsidiary.


For the year ended December 31, 2020,2023, net payments from CRNF to CRRMthe CVR Energy Subsidiary pursuant to the Coffeyville MSA were approximately $4$21 million. As of December 31, 2020,2023, CVR Partners’ Consolidated Balance Sheets reflected a net payable of $1$2 million due to CVR Energy.


Corporate MSA


Also effective January 1, 2020,Under the Conflicts Committee ofCorporate MSA, the general partner of CVR Partners (the “General Partner”) and the Audit Committee of CVR Energy approved,Partners and the parties entered into, the Corporate MSA betweenits subsidiaries, as “service recipients” thereunder, obtain certain management and other administrative and professional services from our indirect, wholly owned subsidiary, CVR Services, LLC (“CVR Services,” formerly Coffeyville Resources, LLC) and certain of its affiliates, and CVR Partners, its general partner, and its subsidiaries, which is comprised of various management and service agreements effectively replacing other related party agreements, on substantially equivalent terms, in place during 2019 and 2018 (the “Replaced Corporate Agreements”Services”). In addition to affirming the terms and services described in the Replaced Corporate Agreements and resetting the durations thereof, as applicable, commencing January 1, 2020, theThe Corporate MSA provides for payment by each service recipient, underincluding the Corporate MSAGeneral Partner and CVR Partners and its subsidiaries, of a monthly fee for goods and services supplied under the Corporate MSA,thereunder, subject to netting and an annual true up, as well as pass-through of any direct costs incurred on behalf of a service recipient without markup.

Under Any party may terminate the Corporate MSA CVR Partners, its subsidiaries and its general partner obtain certain management and other professional services from CVR Services, including the following, among others:upon at least 90 days’ notice.
services from CVR Services’ employees in capacities equivalent to the capacities of corporate executive officers, except that those who serve in such capacities under the agreement will serve CVR Partners on a shared, part-time basis only, unless CVR Partners and CVR Services agree otherwise;
administrative and professional services, including legal, accounting, Sarbanes-Oxley compliance, financial reporting, human resources, information technology, communications, insurance, tax, credit, finance, corporate compliance, enterprise risk management, consulting, and government and regulatory affairs;
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recommendations on capital raising activities to the board of directors of the general partner, including the issuance of debt or equity interests, the entry into credit facilities, and other capital market transactions;

managing or overseeing litigation and administrative or regulatory proceedings, investigations and other reviews in the ordinary course of business or operations, establishing appropriate insurance policies for CVR Partners, and providing safety and environmental advice;
recommending the payment of distributions;
managing or providing advice for other projects, including acquisitions, as may be agreed by the general partner and CVR Services from time to time; and
permitting the use of the CVR Energy and CVR Partners trademarks by CVR Partners and its general partner at no cost.

For the year ended December 31, 2020,2023, net payments from CRNFCVR Partners’ subsidiaries to CVR Services pursuant to the Corporate MSA were approximately $17$29 million. As of December 31, 2020,2023, CVR Partners’ Consolidated Balance Sheets reflected a net payable of less than $1$3 million due to CVR Services.


Environmental Agreement

Certain of our subsidiaries are parties to an environmental agreement with CRNF which provides for certain indemnification and access rights in connection with environmental matters affecting our Coffeyville Refinery and CRNF’s Coffeyville Fertilizer Facility. To the extent that liability arises from environmental contamination that is caused by our Coffeyville Refinery but is also commingled with environmental contamination caused by CRNF’s Coffeyville Fertilizer Facility, our Coffeyville Refinery may elect, in its sole discretion and at its own cost and expense, to perform government mandated environmental activities relating to such liability, subject to certain conditions and provided that it does not waive any rights to indemnification or compensation otherwise provided for in the agreement. No liability under this agreement was recorded as of December 31, 2023.

Terminal and Operating Agreement

One of our indirect wholly owned subsidiaries entered into a lease and operating agreement with CRNF, under which CRNF leases the premises located at Phillipsburg, Kansas to be utilized as a UAN terminal. The initial term of the agreement will expire in May 2032, provided, however, CRNF may terminate the lease at any time during the initial term by providing 180 days prior written notice. In addition, this agreement will automatically renew for successive five-year terms, provided that CRNF may terminate the agreement during any renewal term with at least 180 days written notice. Under the terms of this agreement, CRNF will pay $1.00 per year for rent, $4.00 per ton of UAN placed into the terminal, and $4.00 per ton of UAN taken out of the terminal. For the year ended December 31, 2023, the aggregate amount of payments made by CRNF to our subsidiary under this agreement was nominal.

CVR Partners Amended and Restated Registration Rights Agreement


CVR Partners entered into an amended and restated registration rights agreement (the “Registration Rights Agreement”) with CVR Services, pursuant to which CVR Partners may be required to register the sale of CVR
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Partners common units that CVR Services holds. Under the Registration Rights Agreement, CVR Services has the right to request that CVR Partners register the sale of common units held by CVR Services on six occasions, including requiring CVR Partners to make available shelf registration statements permitting sales of common units into the market from time to time over an extended period. In addition, CVR Services and its permitted transferees have the ability to exercise certain piggyback registration rights with respect to their securities if CVR Partners elects to register any of its equity interests. The Registration Rights Agreement also includes provisions dealing with holdback agreements, indemnification and contribution, and allocation of expenses. All CVR Partners common units held by CVR Services and any permitted transferee will be entitled to these registration rights, except that the demand registration rights may only be transferred in whole and not in part.


Related Party Transaction Policy


Our Board has adopted a Related Party Transaction Policy, which is designed to monitor and ensure the proper review, approval, ratification, and disclosure of our related party transactions. This policy applies to any transaction, arrangement, or relationship (or any series of similar transactions, arrangements, or relationships) in which we were, are, or will be a participant and the amount involved exceeds $120,000, and in which any related party had, has, or will have a direct or indirect material interest. The Audit Committee must review, approve, and ratify a related party transaction if such transaction is consistent with the Related Party Transaction Policy and is on terms, taken as a whole, which the Audit Committee believes are no less favorable to us than could be obtained in an arm’s-length transaction with an unrelated third-party, unless the Audit Committee otherwise determines the transaction is not in our best interests. Any related party transaction or modification of such transaction that our Board has approved or ratified by the affirmative vote of a majority of directors who do not have a direct or indirect material interest in such transaction does not need to be approved or ratified by our Audit Committee. In addition, related party transactions involving compensation will be approved by our Compensation Committee in lieu of our Audit Committee.


In addition, the charter for the Audit Committee provides that the Audit Committee will review, approve, and ratify transactions in which a potential conflict of interest exists or arises between the Company or any of its subsidiaries (including the general partner of CVR Partners acting on its own behalf and not on behalf of CVR Partners), on the one hand, and CVR Partners or any of its subsidiaries, on the other hand.

On October 22, 2019, the Audit Committee of CVR Energy agreed to authorize the exchange of certain parcels of property owned by CRRM a subsidiary of CVR Energy with an equal number of parcels owned by CRNF, all located in Coffeyville, Kansas (the “Property Exchange”). On February 19, 2020, CRRM and CRNF executed the Property Exchange agreement effectuating the same. This Property Exchange will enable each such company to create a more usable, contiguous parcel of land near its own operating footprint. CVR Energy and CVR Partners accounted for this transaction in accordance with the ASC 805-50 guidance on transferring assets between entities under common control. This transaction had a net impact to CVR Partners’ partners’ capital of approximately $0.1 million.
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20222025 STOCKHOLDER PROPOSALS AND DIRECTOR NOMINATIONS


For a stockholder proposalIn accordance with our By-Laws, to be considered for inclusion in our Proxy Statement for the 20222025 Annual Meeting of Stockholders, thestockholder proposals must be received by our Secretary must receive the written proposal at the address below no later than the close of business on December 24, 2021.18, 2024. Such proposals must meet the requirements set forth in our By-Laws. Such proposals alsoBy-Laws and must comply with SEC regulations under Rule 14a-8 regarding the inclusion of stockholder proposals in company-sponsored proxy materials.


For a stockholder proposal that is intended to be presented at an annual meeting but not presented to us for inclusion in our Proxy Statement under Rule 14a-8, or to nominate an individual for election at our annual meeting for 2025, in general, the stockholderstockholder’s notice must give notice tobe received by the Secretary no earlier than February 2, 2022January 29, 2025 and no later than March 4, 2022February 28, 2025 and meet the requirements set forth in our By-laws.By-Laws. However, if the date of our 20222025 Annual Meeting of Stockholders is held more than 30 days before or after June 2, 2022,May 29, 2025, then the stockholder’s notice, in order to be considered timely, must be received by the Secretary notno later than the later of the close of business on the 90th day prior to such annual meeting or the tenth day following the day on which notice of the date of the 20222025 annual meeting was mailed or public disclosure of such date was made.


Stockholders can suggest director candidates for consideration by writing to the attention of the General Counsel and Secretary at the address below. Stockholders should provide the candidate’s name, biographical data, qualifications, and the candidate’s written consent to being named as a nominee in our proxy statement and to serve as a director, if elected. Stockholders should also include the information that would be required to be disclosed in the solicitation of proxies for election of directors under the federal securities laws. The Board may require any nominee to furnish any other information, within reason, that may be needed to determine the eligibility of the candidate. See “Corporate Governance - Identifying and Evaluating Nominees for Directors” above.

To nominate an individual for election at In addition to satisfying the foregoing requirements under our annual meeting for 2022,By-Laws, to comply with the stockholderuniversal proxy rules, stockholders who intend to solicit proxies in support of director nominees other than the Company’s nominees must give timelyprovide notice tothat sets forth the Secretary in accordance with our By-laws, which, in general, require thatinformation required by Rule 14a-19 under the notice be received by the Secretary no earlier than February 2, 2022 andExchange Act no later than March 4, 2022, unless29, 2025. However, if the date of the stockholder meetingour 2025 Annual Meeting of Stockholders is movedheld more than 30 days before or after June 2, 2022,May 29, 2025, then the nominationnotice must be receivedprovided by the Secretary not later than the later of the close of business on the 90th day60 calendar days prior to suchthe date of the annual meeting or the tenth10th calendar day following the day on which noticepublic announcement of the date of the 2022 annual meeting was mailed or public disclosure of such date wasis first made.


If the number of directors to be elected at the 20222025 Annual Meeting will be increased and there is no public announcement naming the nominees for the additional directorships prior to February 22, 2022,18, 2025, a stockholder’s notice will be considered timely with respect to the nominees for the additional directorships if it is received by the Secretary notno later than the close of business on the tenth day after the day on which such public announcement is first made.


Proponents must submit stockholder proposals and recommendations for nomination as a director in writing to the following address:
CVR Energy, Inc.
2277 Plaza Drive, Suite 500
Sugar Land, Texas 77479
Attention: General Counsel & Secretary


The General Counsel and Secretary will forward the proposals and recommendations to the Governance Committee for consideration. We reserve the right to reject, rule out of order, or take other appropriate actions with respect to any proposal or nomination that does not comply with the procedures described above and other applicable requirements. In addition, a proxy may confer discretionary authority to vote on any matter at a meeting if we do not receive notice of the matter within the time frames described above.


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