Nokia 2011 Annual Report Download - page 176

(1) Employee numbers for 2010 and 2009 in relation to Devices & Services and Location & Commerce
have been recast for comparability purposes due to the formation of our new Location & Commerce
business by combining NAVTEQ and our Devices & Services social location services operations
during 2011.
Management believes that we have a good relationship with our employees and with the labor unions.
6E. Share Ownership
General
The following section describes the ownership or potential ownership interest in the company of the
members of our Board of Directors and the Nokia Leadership Team as at December 31, 2011, either
through share ownership or, with respect to the Nokia Leadership Team, through holding of equity-
based incentives, which may lead to share ownership in the future.
With respect to the Board of Directors, approximately 40% of director compensation is paid in the form
of Nokia shares that is purchased from the market. It is also Nokia’s policy that the Board members
retain all Nokia shares received as director compensation until the end of their board membership
(except for those shares needed to offset any costs relating to the acquisition of the shares, including
taxes). In addition, it is Nokia’s policy that non-executive members of the Board do not participate in
any of Nokia’s equity programs and do not receive stock options, performance shares, restricted
shares or any other equity based or otherwise variable compensation for their duties as Board
members.
For a description of our remuneration for our Board of Directors, see Item 6B. “Compensation—Board
of Directors—Remuneration of the Board of Directors in 2011.”
The Nokia Leadership Team members receive equity based compensation in the form of performance
shares, stock options and restricted shares. For a description of our equity-based compensation
programs for employees and executives, see Item 6B. “Compensation—Equity-Based Incentive
Programs.”
Share Ownership of the Board of Directors
At December 31, 2011, the members of our Board of Directors held the aggregate of 1 478 943 shares
and ADSs in Nokia, which represented 0.04 % of our outstanding shares and total voting rights
excluding shares held by Nokia Group at that date.
The following table sets forth the number of shares and ADSs held by the members of the Board of
Directors as at December 31, 2011.
Name(1) Shares(2) ADSs(2)
Jorma Ollila(3) ........................................ 791284 —
Marjorie Scardino .................................... 43300 —
Stephen Elop ........................................ — 150000
Bengt Holmström ..................................... 41981 —
Henning Kagermann .................................. 27057 —
Per Karlsson(4) ....................................... 48113 —
Jouko Karvinen ...................................... 9419 —
Helge Lund .......................................... 8746 —
Isabel Marey-Semper ................................. 21280 —
Risto Siilasmaa ...................................... 129017 —
Kari Stadigh ......................................... 208746 —
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