Nokia 2004 Annual Report Download - page 100

Restricted Share Units
The following table provides certain information relating to restricted share units held by
members of the Group Executive Board as of December 31, 2004 (not including the new Group
Executive Board member whose service began after January 1, 2005). For a description of our
restricted share plans, please see—‘‘Nokia’s Equity Based Compensation Program 2004.’’
Number of Number of
Restricted Restricted
Shares 2003(1)(3) Shares 2004(2)(3)
Jorma Ollila ........................................... — 100 000
Pekka Ala-Pietil ¨ a....................................... — 35 000
Matti Alahuhta ........................................ — 35 000
Sari Baldauf ........................................... — 35 000
J. T. Bergqvist ......................................... — 10 000
Olli-Pekka Kallasvuo .................................... — 35 000
Pertti Korhonen ........................................ 35 000 25 000
Mary McDowell ........................................ — 20 000
Hallstein Moerk ........................................ 26 000 20 000
Richard Simonson ...................................... 33 250 25 000
Veli Sundb ¨ ack......................................... — 20 000
Anssi Vanjoki ......................................... — 35 000
Total ................................................ 94 250 395 000
(1) Restriction period end date (Vesting Date) October 1, 2006.
(2) Restriction period end date (Vesting Date) April 1, 2007.
(3) The closing market price of Nokia share on the Helsinki Exchanges as of December 31, 2004
was EUR 11.62.
Stock Ownership Guidelines for Executive Management
The goal of our long-term, equity-based incentive awards is to recognize progress towards the
achievement of our strategic objectives, and to focus executives on building value for shareholders.
In addition to stock option grants, we encourage stock ownership by our top executives. In
January 2001, we introduced a stock ownership commitment guideline with minimum
recommendations tied to annual fixed salaries. For the members of the Group Executive Board, the
recommended minimum investment in our shares corresponds to two times the member’s annual
base salary, to be fulfilled by January 2006. In the case of the new Group Executive Board
members whose service began after the original 2001 guidelines were established, this
requirement is replaced by the requirement to retain after-tax equity gains in shares until the
same minimum investment level applicable to the other Group Executive Board members is met.
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
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