Nokia 2010 Annual Report Download - page 257

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31. Related party transactions (Continued)
2010 2009 2008
EURm EURm EURm
Transactions with associated companies
Share of results of associated companies ............................... 1 30 6
Dividend income .................................................. 1 — 6
Share of shareholders’ equity of associated companies .................... 61 35 21
Sales to associated companies........................................ 15 8 59
Purchases from associated companies.................................. 186 211 162
Receivables from associated companies ................................ 3 2 29
Liabilities to associated companies .................................... 22 31 8
Management compensation
The following table sets forth the salary and cash incentive information awarded and paid or payable
by the company to the Chief Executive Officer and President of Nokia Corporation for fiscal years
20082010 as well as the sharebased compensation expense relating to equitybased awards,
expensed by the company.
Base
salary
Cash
incentive
payments
Sharebased
compensation
Expense
Base
salary
Cash
incentive
payments
Sharebased
compensation
expense
Base
salary
Cash
incentive
payments
Sharebased
compensation
expense
EUR EUR EUR EUR EUR EUR EUR EUR EUR
2010 2009 2008
Stephen Elop
President and CEO
from September 21,
2010 . .......... 280303 440137 67018 — — — — — —
OlliPekka Kallasvuo
President and CEO
until September 20,
2010 . .......... 979758 676599 –2455999
*
1 176 000 1 288 144 2 840 777 1 144 800 721 733 1 286 370
* The net negative sharebased compensation expense of EUR 2 455 999 for Mr. Kallasvuo consisted
of EUR 748 000 compensation for the fair market value of the 100 000 restricted Nokia shares
granted to him in 2007, which were to vest on October 1, 2010, and reversal of the previously
recognized sharebased compensation expense, due to termination of Mr. Kallasvuo’s employment
and forfeiture of his other equity grants.
Total remuneration of the Group Executive Board awarded for the fiscal years 20082010 was
EUR 9 009 253 in 2010 (EUR 10 723 777 in 2009 and EUR 8 859 567 in 2008), which consisted of base
salaries and cash incentive payments. Total sharebased compensation expense relating to equity
based awards expensed by the company was EUR 3 186 223 in 2010 (EUR 9 668 484 in 2009 and
EUR 4 850 204 in 2008).
F69
Notes to the Consolidated Financial Statements (Continued)