Nokia 2008 Annual Report Download - page 106

Summary Compensation Table 2008
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 2008 1 144 800 721 733 644 805 641 565 (*) 469 060
(4)(5)
175 164
(7)
3 797 126
President and CEO . . . . . . . . . . . . . 2007 1 037 619 2 348 877 4 112 581 693 141 (*) 956 333 183 603 9 332 153
2006 898 413 664 227 1 529 732 578 465 (*) 1 496 883 38 960 5 206 680
Richard Simonson 2008
(8)
630 263 293 477 204 952 204 045 106 632
(9)
1 439 369
EVP and Chief Financial Officer . . . . . . 2007
(8)
488 422 827 333 1 576 376 234 310 (*) 46 699 3 173 141
2006
(8)
460 070 292 673 958 993 194 119 (*) 84 652 1 990 507
Simon BeresfordWylie
CEO Nokia Siemens
Networks . . . . . . . . . . . . . . . . . 2008 600 000 462 871 221 407 74 500 (*) 108 658
(4)
728 778
(10)
2 196 215
Anssi Vanjoki 2008 615 143 260 314 208 880 204 343 (*)
(6)
33 552
(11)
1 322 232
EVP, Head of Markets . . . . . . . . . . . 2007 556 381 900 499 1 602 605 239 829 (*) 18 521 49 244 3 367 078
2006 505 343 353 674 938 582 222 213 (*) 215 143 29 394 2 264 349
Mary McDowell 2008
(8)
493 798 196 138 203 123 197 726 (*) 33 462
(12)
1 124 247
EVP, Chief Development Officer . . . . . . 2007
(8)
444 139 769 773 1 551 482 396 169 (*) 32 463 3 194 027
2006
(8)
466 676 249 625 786 783 213 412 (*) 45 806 1 762 302
(1)
The positions set forth in this table are the current positions of the named executive.
Mr. Kallasvuo was President and COO until June 1, 2006. Until December 31, 2007, Mr. Vanjoki
served as Executive Vice President and General Manager of Multimedia; Ms. McDowell, Executive
Vice President and General Manager of Enterprise Solutions. Mr. BeresfordWylie served as
Executive Vice President and General Manager Networks until April 1, 2007.
(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 and in the case of
Mr. BeresfordWylie payable by Nokia Siemens Networks on the basis of Nokia Siemens
Networks’ shortterm cash incentive program.
(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 the liability related to the
individual executive. These executives are covered by the Finnish State employees’ pension act
(“TyEL”) that provides for a retirement benefit based on years of service and earnings according
to the prescribed statutory system. The TyEL system is a partly funded and a partly pooled “pay
as you go” system. Effective March 1, 2008, Nokia transferred its TyEL pension liability and assets
to an external Finnish insurance company and no longer carries the liability on its financial
statements. 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.
(5)
The change in pension value for Mr. Kallasvuo includes EUR 4 811 for the proportionate change
in the liability related to the individual under the funded part of the Finnish TyEL pension (see
footnote 4 above). In addition, it includes EUR 464 249 for the change in liability in the early
retirement benefit at the age of 60 provided under his service contract. Nokia still carries the
liability on its books for the early retirement benefit.
(6)
Mr. Vanjoki’s proportionate change in the liability related to the individual under the funded part
of the Finnish TyEL pension (see footnote 4 above) was negative.
(7)
All other compensation for Mr. Kallasvuo in 2008 includes: EUR 130 000 for his services as
member of the Board or Directors, see “—Board of Directors—Remuneration of the Board of
Directors in 2008” above; EUR 20 645 for car allowance, EUR 10 000 for financial counseling,
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