Nokia 2011 Annual Report Download - page 184

(9) During 2011, the following executives stepped down from the Nokia Leadership Team: Alberto
Torres, Richard Green and Tero Ojanperä. The information related to performance shares and
restricted shares held by each of the former executives is as of the date of resignation from the
Nokia Leadership Team and is presented in the table below.
Performance Shares Restricted Shares
Name
Plan
Name(1)
Number of
Performance
Shares at
Threshold(13)
Number of
Performance
Shares at
Maximum(14)
Intrinsic
Value
(EUR)(12)
Plan
Name(5)
Number of
Restricted
Shares
Intrinsic
Value
(EUR)(12)
Alberto Torres(10) as per
February 10, 2011 ....... 2009
2010
10 000
20 000
40 000
80 000
0
161 481
2008
2009
2010
10 000
25 000
30 000
81 600
204 000
244 800
Richard Green(11) as per
September 21, 2011 ..... 2010
2011
12 500
22 500
50 000
90 000
51 823
188 550
2010
2011
75 000
35 000
314 250
146 650
Tero Ojanperä(11) as per
September 30, 2011 ..... 2009
2010
2011
17 500
20 000
15 000
70 000
80 000
60 000
0
84 105
127 500
2008
2009
2010
2011
14 000
25 000
85 000
23 000
59 500
106 250
361 250
97 750
(10) Mr. Torres’ termination date under the employment agreement was March 31, 2011. His equity
was forfeited and cancelled upon termination of employment in accordance with the plan rules.
(11) Mr. Green’s and Mr. Ojanperä’s performance and restricted share grants were forfeited and
cancelled upon their respective terminations of employment in accordance with the plan rules.
(12) The intrinsic value is based on the closing market price of a Nokia share on NASDAQ OMX
Helsinki as at February 10, 2011 of EUR 8.16 in respect of Mr. Torres, as at September 21, 2011
of EUR 4.19 in respect of Mr. Green, and as at September 30, 2011 of EUR 4.25 in respect of
Mr. Ojanperä.
(13) The threshold number will vest as Nokia shares should the pre-determined threshold performance
levels be met for both performance criteria. No Nokia shares were delivered under the
Performance Share Plan 2009 as Nokia’s performance did not reach the threshold level of either
performance criteria. Therefore the aggregate number does not include any shares for
Performance Share Plan 2009.
(14) The maximum number will vest as Nokia shares should the pre-determined maximum
performance levels be met. The maximum number of performance shares equals four times the
number at threshold. No Nokia shares were delivered under the Performance Share Plan 2009 as
Nokia’s performance did not reach the threshold level of either performance criteria. Therefore, the
aggregate number does not include any shares for Performance Share Plan 2009.
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