Nokia 2008 Annual Report Download - page 122

(5)
The intrinsic value is based on the closing market price of a Nokia share on NASDAQ OMX Helsinki
as at December 31, 2008 of EUR 11.10.
(6)
From April 1, 2007, Mr. BeresfordWylie has participated in a longterm cash incentive plan
sponsored by Nokia Siemens Networks instead of the longterm equitybased plans of Nokia.
For gains realized upon exercise of stock options or delivery of Nokia shares on the basis of
performance shares and restricted shares granted to the members of the Group Executive Board, see
the table in “—Stock Option Exercises and Settlement of Shares” below.
Stock Option Exercises and Settlement of Shares
The following table provides certain information relating to stock option exercises and share
deliveries upon settlement during the year 2008 for our Group Executive Board members.
Name and Principal
Position Year
Number of
Shares
Acquired on
Exercise
Value
Realized on
Exercise
(EUR)
Number of
Shares
Delivered on
Vesting
Value
Realized
on
Vesting(EUR)
Number of
Shares
Delivered on
Vesting
Value
Realized on
Vesting
(EUR)
Stock Options
Awards
(1)
Performance Shares
Awards
(2)
Restricted Shares
Awards
(3)
OlliPekka Kallasvuo . . ..... 2008 0 0 35 850 648 885 35 000 434 700
Robert Andersson . . . ..... 2008 0 0 6 214 112 473 28 000 347 760
Simon BeresfordWylie ..... 2008 0 0 5 975 108 148 35 000 434 700
Timo Ihamuotila ......... 2008 0 0 4 780 86 518 25 000 310 500
Mary McDowell .......... 2008 70 000 679 000 29 875 540 738 35 000 434 700
Hallstein Moerk .......... 2008 0 0 17 925 324 443 25 000 310 500
Tero Ojanpera
¨........... 2008 8 000 55 120 5 975 108 148 25 000 310 500
Niklas Savander.......... 2008 0 0 6 118 110 736 25 000 310 500
Rick Simonson .......... 2008 11 500 110 170 29 875 540 738 35 000 434 700
Veli Sundba
¨ck........... 2008 0 0 17 925 324 443 25 000 310 500
Anssi Vanjoki . .......... 2008 0 0 35 850 648 885 35 000 434 700
Kai O
¨ista
¨mo ¨............ 2008 0 0 5 975 108 148 25 000 310 500
(1)
Value realized on exercise is based on the difference between the Nokia share price and exercise
price of options (nontransferable stock options).
(2)
Represents the final payout in gross shares for the 2004 performance share grant. Value is based
on the market price of the Nokia share on NASDAQ OMX Helsinki as at June 2, 2008 of EUR 18.10 .
(3)
Delivery of Nokia shares vested from the 2005 restricted share grant to all members of the Group
Executive Board. Value is based on the market price of the Nokia share on NASDAQ OMX Helsinki
on October 22, 2008 of EUR 12.42.
Stock Ownership Guidelines for Executive Management
One of the goals of our longterm equitybased incentive program is to focus executives on building
value for shareholders. In addition to granting the stock options, performance shares and restricted
shares, we also encourage stock ownership by our top executives. Since January 2001, we have had
stock ownership commitment guidelines with minimum recommendations tied to annual base
salaries. For the President and CEO, the recommended minimum investment in Nokia shares
corresponds to three times his annual base salary, for Simon BeresfordWylie, Chief Executive Officer
of Nokia Siemens Networks one time his annual base salary and for the other members of the Group
Executive Board two times the member’s annual base salary, respectively. To meet this requirement,
all members are expected to retain 50% of any aftertax gains from equity programs in shares until
the minimum investment level is met.
Insider Trading in Securities
The Board of Directors has established and regularly updates a policy in respect of insiders’ trading in
Nokia securities. The members of the Board and the Group Executive Board are considered as primary
insiders. Under the policy, the holdings of Nokia securities by the primary insiders are public
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