Nokia 2005 Annual Report Download - page 94

100% after the close of a pre-determined restriction period. The equity-based incentive
awards are generally forfeited, if the executive leaves the company.
Information on the actual equity-based incentives granted to the members of our Group
Executive Board is included in ‘‘Item 6.E Share Ownership.’’
Actual executive remuneration for 2005
At December 31, 2005, Nokia had a Group Executive Board consisting of 12 members. Of the Group
Executive Board members, Sari Baldauf and J.T. Bergqvist ceased employment with us and
resigned as members of the Group Executive Board with effect from January 31, 2005. Pekka
Ala-Pietil¨ a and Yrj¨ o Neuvo resigned as members of the Group Executive Board with effect from
October 1, 2005, and their employment ceased with us on December 31, 2005 for Dr. Neuvo, and
January 31, 2006 for Mr. Ala-Pietil¨ a.
The following persons were appointed as new members to the Group Executive Board effective in
2005: Tero Ojanper¨ a was appointed a member effective January 1, 2005, Simon Beresford-Wylie
from February 1, 2005, Robert Andersson and Kai ¨ Oist¨ am¨ o were appointed members with effect
from October 1, 2005.
The following tables summarize the aggregate cash compensation paid and the long-term equity-
based incentives granted to the members of the Group Executive Board, including Jorma Ollila,
Chairman and CEO, for the year 2005. It also shows the long-term equity-based incentives granted
in the aggregate under our equity plans in 2005.
During 2005, there were no gains realized upon exercise of stock options to report, nor were any
share-based incentive grants settled for the members of the Group Executive Board.
Cash compensation to the Group Executive Board for 2005
Number of
members
December 31, Cash incentive
Year 2005 Base salaries payments(1)(2)
EUR EUR
2005 ......................................... 12 6 153 422(3) 8 531 180(3)
(1) Includes payments pursuant to cash incentive arrangements for the 2005 calendar year. The
cash incentives are paid as a percentage of annual base salary based on Nokia’s short-term
cash incentive plan.
(2) Excluding any gains realized upon exercise of stock options.
(3) Includes base pay and bonuses to Sari Baldauf and J.T. Bergqvist for the period until
January 31, 2005, and to Pekka Ala-Pietil¨ a and Yrj¨ o Neuvo until September 30, 2005. The new
members entering the Group Executive Board in 2005, Simon Beresford-Wylie, Kai ¨ Oist¨ am¨ o
and Robert Andersson, are included for the period of their service in 2005. Tero Ojanper¨ a
joined the Group Executive Board effective January 1, 2005, so his cash compensation is fully
included.
92