Nokia 2007 Annual Report Download - page 104

LongTerm EquityBased Incentives Granted in 2007
(1)
Group Executive Board
(3)
Total
Total Number
of Participants
Performance Shares at Threshold
(2)
............ 286000 2163901 5300
Stock Options ............................. 572000 3211965 2800
Restricted Shares........................... 390000 1749433 300
(1)
The equitybased incentive grants are generally forfeited if the employment relationship termi
nates with Nokia prior to vesting. The settlement is conditional upon performance and service
conditions, as determined in the relevant plan rules. For a description of our equity plans, see
Note 22 to our consolidated financial statements included in Item 18 of this annual report.
(2)
At maximum performance, the settlement amounts to four times the number of performance
shares originally granted at threshold.
(3)
Including Timo Ihamuotila from April 1, 2007.
Summary Compensation Table 2007
Name and
Principal
Position
(1)
Year(*) Salary Bonus
(2)
Stock
Awards
(3)
Option
Awards
(3)
NonEquity
Incentive Plan
Compensation(**)
Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings
All Other
Compensation Total
EUR EUR EUR EUR EUR EUR EUR EUR
OlliPekka Kallasvuo . . . . 2007 1 037 619 2 348 877 4 112 581 693 141 — 956 333
(4)(5)
183 603
(6)
9 332 153
President and CEO 2006 898 413 664 227 1 529 732 578 465 — 1 496 883
(4)
38 960 5 206 680
2005 623 524 947 742
Richard Simonson . . . . . 2007 488 422 827 333 1 576 376 234 310 — 46 699
(8)
3 173 141
EVP and Chief Financial 2006 460 070 292 673 958 993 194 119 — 84 652 1 990 507
Officer
(7)
2005 461 526 634 516
Anssi Vanjoki . ....... 2007 556 381 900 499 1 602 605 239 829 — 18 521
(4)
49 244
(9)
3 367 078
EVP, Markets 2006 505 343 353 674 938 582 222 213 — 215 143
(4)
29 394 2 264 349
2005 476 000 718 896
Mary McDowell ....... 2007 444 139 769 773 1 551 482 396 169 — 32 463
(10)
3 194 027
EVP, Chief Development 2006 466 676 249 625 786 783 213 412 — 45 806 1 762 302
Officer
(7)
Kai O
¨ista
¨mo ¨......... 2007 382 667 605 520 1 412 371 223 284 — 41 465
(4)
32 086
(11)
2 697 393
EVP, Devices
(1)
The positions set forth in this table are the current positions of the named executives. Mr. Kallas
vuo was President and COO until June 1, 2006. Until December 31, 2007, Mr. Vanjoki was Execu
tive Vice President and General Manager of Multimedia; Ms. McDowell, Executive Vice President
and General Manager of Enterprise Solutions; and Mr. O
¨ista
¨mo ¨, Executive Vice President and Gen
eral Manager of Mobile Phones.
(2)
Bonus payments are part of Nokia’s shortterm cash incentives. The amount consists of the
bonus awarded and paid or payable by Nokia for the respective fiscal year.
(3)
Amounts shown represent sharebased compensation expense recognized in the respective fiscal
year for all outstanding equity grants in accordance with IFRS 2, Sharebased payment.
(4)
The change in pension value represents the proportionate change in Nokia’s liability related to
the individual executive. These executives participate in the Finnish TyEL pension system that
provides for a retirement benefit based on years of service and earnings according to the pre
scribed statutory system. The TyEL system is a partly funded and a partly pooled “pay as you go”
system. The figures shown represent only the change in liability for the funded portion. The
method used to derive the actuarial IFRS valuation is based upon salary information at the
respective yearend. Actuarial assumptions including salary increases and inflation have been
determined to arrive at the valuation at the respective year end
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