Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 18, 2023, as part of an internal reorganization, the Board of Directors (the "Board") of The Mosaic Company ("Mosaic"), effective as of November 1, 2023, appointed Clint C. Freeland to the position of Executive Vice President and Chief Financial Officer and removed Mr. Freeland from his current position as Senior Vice President and Chief Financial Officer. In his new position, Mr. Freeland's responsibilities will continue to include Mosaic's financial and IT/cybersecurity management in addition to Mosaic's strategic planning. Based on the responsibilities associated with Mr. Freeland's new role, the Compensation and Human Resources Committee of the Board, effective upon the date of Mr. Freeland's election as Mosaic's Executive Vice President and Chief Financial Officer, increased his annual base salary from $760,000 to $800,000 and approved a one-time grant to Mr. Freeland of restricted stock units valued at $500,000 (based on the closing price of Mosaic's common stock on the New York Stock Exchange on November 1, 2023, the date of grant) which will vest on the third anniversary of the grant date.
Also effective November 1, 2023, the Board appointed Walter F. Precourt III to the position of Senior Vice President and Chief Administrative Officer and removed Mr. Precourt from his current position as Senior Vice President - Strategy and Growth. In his new position, Mr. Precourt will have responsibilities for Mosaic's administrative functions including Human Resources, Public Affairs Procurement and Enterprise Business Services.

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The Mosaic Company published this content on 20 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2023 18:28:29 UTC.