Nokia 2008 Annual Report Download - page 204

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22. Sharebased payment (Continued)
(1)
Includes also restricted shares granted under other than global equity plans. For further
information see “Other equity plans for employees” below.
(2)
The fair value of restricted shares is estimated based on the grant date market price of the
Company’s share less the present value of dividends expected to be paid during the vesting
period.
(3)
Includes grants assumed under “NAVTEQ Plan” (as defined below).
Other equity plans for employees
In addition to the global equity plans described above, the Group has minor equity plans for Nokia
acquired businesses or employees in the United States or Canada which do not result in an increase in
the share capital of Nokia. These plans are settled by using Nokia shares or ADSs acquired from the
market. When treasury shares are issued on exercise of stock options any gain or loss is recognized in
share issue premium.
On basis of these plans the Group had 0.7 million stock options outstanding on December 31, 2008.
The average exercise price is USD 22.89.
In connection with our July 10, 2008 acquisition of NAVTEQ, the Group assumed Navteq’s 2001 Stock
Incentive Plan (“NAVTEQ Plan”). All unvested NAVTEQ restricted stock units under the NAVTEQ Plan
were converted to an equivalent number of restricted stock units entitling their holders to Nokia
shares. The maximum number of Nokia shares to be delivered to NAVTEQ employees during the years
2008 — 2012 is approximately 3 million. The Group does not intend to make further awards under
the NAVTEQ Plan.
23. Longterm interestbearing liabilities
Carrying amount Fair value Carrying amount Fair value
2008 2007
EURm EURm EURm EURm
Longterm interestbearing liabilities carried
at amortized cost .................... 861 855 203 203
Fair value is estimated based on the current market values of similar instruments.
F60
Notes to the Consolidated Financial Statements (Continued)