Nokia 2004 Annual Report Download - page 99

(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, 2004 of EUR 11.62.
On December 31, 2004, the total outstanding exercisable stock options held by all participants in
the Nokia stock option plans, including the Group Executive Board, called for 81.1 million shares,
with no potential realizable value (as defined below) on December 31, 2004. On December 31,
2004, there were outstanding unexercisable stock options for a total of 59.3 million shares, with a
potential realizable value of EUR 0.13 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, 2004 of EUR 11.62.
Performance Share Unit and Restricted Share Ownership
Performance Share Units
The following table provides certain information relating to Performance Share Units held by
members of the Group Executive Board as of December 31, 2004 (not including the new Group
Executive Board members whose service began on or after January 1, 2005). These Performance
Share Units were issued under the 2004 Nokia Equity Program. For a description of our
performance share plan, please see ‘‘—Nokia’s Equity Based Compensation Program 2004.’’
Granted
Amounts of Maximum
Performance number
Share Units(1)(3) of shares(2)(3)
Jorma Ollila ............................................. 100 000 400 000
Pekka Ala-Pietil ¨ a ......................................... 20 000 80 000
Matti Alahuhta ........................................... 15 000 60 000
Sari Baldauf ............................................. 15 000 60 000
J. T. Bergqvist ............................................ 7 500 30 000
Olli-Pekka Kallasvuo ....................................... 15 000 60 000
Pertti Korhonen .......................................... 12 500 50 000
Mary McDowell .......................................... 12 500 50 000
Hallstein Moerk .......................................... 7 500 30 000
Yrj¨ o Neuvo .............................................. 5 000 20 000
Richard Simonson ........................................ 12 500 50 000
Veli Sundb ¨ ack ........................................... 7 500 30 000
Anssi Vanjoki ............................................ 15 000 60 000
Total .................................................. 245 000 980 000
(1) The Grant Amount vests as Nokia shares, if threshold level performance is met for both the
EPS growth and Average Annual Net Sales growth criteria. No Performance Share Units shall
vest as Nokia shares, if the threshold level performance is not met for any of the EPS or
Average Annual Net Sales criterion.
(2) The maximum number of Performance Share Units shall vest as Nokia shares provided that
the maximun performance level is achieved for both of the EPS and Average Annual Net Sales
growth criteria.
(3) The closing market price of the Nokia share on the Helsinki Exchanges as of December 31,
2004 was EUR 11.62.
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