Nokia 2010 Annual Report Download - page 250

24. Sharebased payment (Continued)
(1)
Includes also performance shares granted under other than global equity plans. For further
information see “Other equity plans for employees” below.
(2)
The fair value of performance shares is estimated based on the grant date market price of the
Company’s share less the present value of dividends, if any, expected to be paid during the
vesting period.
(3)
Based on the performance of the Group during the Interim Measurement Period 20042005, under
the 2004 Performance Share Plan, both performance criteria were met. Hence, 3 595 339 Nokia
shares equaling the threshold number were delivered in 2006. The final payout, in 2008, was
adjusted by the shares delivered based on the Interim Measurement Period.
(4)
Includes also performance shares vested under other than global equity plans.
(5)
Based on the performance of the Group during the Interim Measurement Period 20052006, under
the 2005 Performance Share Plan, both performance criteria were met. Hence, 3 980 572 Nokia
shares equaling the threshold number were delivered in 2007. The performance shares related to
the interim settlement of the 2005 Performance Share Plan are included in the number of
performance shares outstanding at January 1, 2008 as these performance shares were
outstanding until the final settlement in 2009. The final payout, in 2009, was adjusted by the
shares delivered based on the Interim Measurement Period.
(6)
Includes performance shares under Performance Share Plan 2006 that vested on December 31,
2008.
(7)
Includes performance shares under Performance Share Plan 2007 that vested on December 31,
2009.
(8)
Includes performance shares under Performance Share Plan 2008 that vested on December 31,
2010.
There will be no settlement under the Performance Share Plan 2008 as neither of the threshold
performance criteria of EPS and Average Annual Net Sales Growth of this plan was met.
Restricted shares
During 2010, Nokia administered four global restricted share plans, the Restricted Share Plan 2007,
2008, 2009 and 2010, each of which, including its terms and conditions, has been approved by the
Board of Directors.
Restricted shares are used to recruit, retain, and motivate selected high potential and critical talent
who are vital to the future success of Nokia. Restricted shares are used only for key management
positions and other critical talent.
All of the Group’s restricted share plans have a restriction period of three years after grant. Until the
Nokia shares are delivered, the participants will not have any shareholder rights, such as voting or
dividend rights, associated with the restricted shares. The restricted share grants are generally
forfeited if the employment relationship terminates with Nokia prior to vesting.
F62
Notes to the Consolidated Financial Statements (Continued)