Nokia Board of Directors approves the Nokia Equity Program 2013 and introduces a new Employee Share
Nokia announced today that Nokia's Board of Directors has approved the Nokia Equity Program 2013. In addition to the equity instruments used in previous years, the Board of Directors approved the launch of a new Employee Share Purchase Plan. The Nokia Equity Program 2013 includes the following equity instruments:
- A new Employee Share Purchase Plan for Nokia employees in selected jurisdictions, entitling the eligible employees to contribute a part of their salary to purchase Nokia shares. After a designated holding period Nokia will offer the employees one matching share for each two purchased shares;
- Performance Shares, which are dependent on the achievement of two independent financial performance criteria;
- Restricted Shares, which are dependent on continued employment during a three-year restriction period and are used together with Performance Shares; and
- Stock Options, which are used on a more limited basis at the executive level.
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