Nokia 2003 Annual Report Download - page 86

began on January 1, 2004) called for approximately 10.4 million shares, representing less than 1%
of the issued share capital and voting rights in Nokia Corporation.
Total potential realizable
Number of shares value of ‘‘In the Money’’
represented by shares represented by
outstanding options as of outstanding options as of
Options sold or exercised in 2003 December 31, 2003 December 31, 2003(2)
Number of Value Realized(1) Exercisable Unexercisable
Underlying Shares (EUR 1 000) Exercisable Unexercisable (EUR 1 000)
Jorma Ollila ...... 180 000 530 3 713 750 2 206 250 0 0
Pekka Ala-Pietil¨ a . . 720 000 891 993 436 521 564 0 0
Matti Alahuhta .... 80 000 774 1 032 812 312 188 0 0
Sari Baldauf ...... 80 000 774 1 112 812 312 188 0 0
J. T. Bergqvist ..... 0 0 293 125 126 875 0 0
Olli-Pekka
Kallasvuo ...... 300 000 631 692 812 312 188 0 0
Pertti Korhonen . . . 8 000 8 201 311 119 689 0 0
Yrj¨ o Neuvo ....... 0 0 756 561 138 439 0 0
Veli Sundb¨ ack..... 0 0 843 750 106 250 0 0
Anssi Vanjoki ..... 0 0 765 936 219 064 0 0
(1) ‘‘Value realized’’ represents either (a) the total gross value received in respect of options sold
over the Helsinki Exchanges or (b) the difference between the aggregate closing market price
(on the Helsinki Exchanges on the exercise day) of the Nokia shares subscribed for, and the
exercise price of the options exercised for share subscriptions.
(2) The ‘‘total potential realizable value’’ of the stock options is based on the difference between
the exercise price of the options (post split) and the closing market price of Nokia shares on
the Helsinki Exchanges as of December 31, 2003 of EUR 13.71.
On December 31, 2003, the total outstanding exercisable stock options held by all participants in
the Nokia stock option plans, including the Group Executive Board, called for 144.3 million shares,
with a total potential realizable value on December 31, 2003 of EUR 0.05 million. On December 31,
2003, there were outstanding unexercisable stock options for a total of 90.5 million shares, with a
potential realizable value of EUR 0.3 million. The potential realizable value for both the
outstanding exercisable and unexercisable stock options is based on the difference between the
exercise price of the stock options (post split) and the closing market price of Nokia shares on the
Helsinki Exchanges as of December 31, 2003 of EUR 13.71.
Insiders’ Trading in Securities
The Board of Directors has established a policy in respect of insiders’ trading in Nokia securities.
Under the policy, the holdings of Nokia securities by the primary insiders (as defined) are public
information, which is available in the Finnish Central Securities Depositary and on the company’s
website. As well, both primary insiders and secondary insiders (as defined) are subject to a
number of trading restrictions and rules, including among other things, prohibitions on trading in
Nokia securities during the three-week ‘‘closed-window’’ period immediately preceding the
disclosure of our quarterly results and the four-week ‘‘closed-window’’ period immediately
preceding the disclosure of our annual results. We update our insider trading policy from time to
time and monitor our insiders’ compliance with the policy on a regular basis. Nokia’s Insider
Policy is in line with the Helsinki Exchanges Guidelines for Insiders.
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