Nokia 2004 Annual Report Download - page 103
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Annual General Meeting 2005 for the approval of a new two-year stock option plan
amounting to a maximum of 25 million stock options, permitting these plans.
• The maximum number of restricted shares that we intend to grant during 2005 is
3.5 million. Our intent is to grant a similar amount in 2006. We have also reserved a pool of
restricted shares to be used for special needs in 2005 and 2006. This amount may result in
a maximum payout of 9 million Nokia shares.
Other Employee Stock Option Plans
Unlike our other stock option plans, the plans described below do not result in an increase of our
share capital, as awards under these plans are settled out of treasury shares.
We have a stock option plan available to our employees in the United States and Canada: The
Nokia Holding Inc. 1999 Stock Option Plan. For more information on this plan, see Note 22 to our
consolidated financial statements included in Item 18 of this Form 20-F.
We have an Employee Share Purchase Plan in the United States, which permits all full-time Nokia
employees located in the United States to acquire Nokia ADSs at a 15% discount. The ADSs to be
purchased are funded through monthly payroll deductions from the salary of the participants, and
the ADSs are purchased on a monthly basis. As of December 31, 2004, a total of 1.4 million ADSs
had been purchased under the plan since its inception, and there were a total of approximately
1 000 participants.
In connection with the acquisition of Ipsilon, we assumed Ipsilon’s 1995 stock option plan. The
former employees, officers and directors of Ipsilon are eligible to participate in this plan. We
intend to issue no more options pursuant to this plan. As of December 31, 2004, options to
purchase 0.5 million ADSs were outstanding at an average exercise price of USD 27.24 per ADS.
In connection with the acquisition of certain US corporations, we have replaced stock options held
by the employees, officers or consultants of the acquired corporations immediately prior to the
respective acquisition with stock options that entitle those persons to purchase Nokia ADSs. The
maximum aggregate number of ADSs that may be issued under these arrangements is 7 million.
As of December 31, 2004 options to purchase 1.9 million ADSs were outstanding from all other
acquisitions (excluding Ipsilon) at an average exercise price of USD 19.80 per ADS.
As of December 31, 2004, 2.6 million stock options to purchase ADSs were outstanding from all
plans described in this ‘‘—Other Employee Stock Option Plans’’ section, at an average exercise price
of USD 22.95 per ADS.
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