Nokia Announces New Equity Program for 2014

17th February 2014
Nokia have announced that its Board of Directors have approved a new and much changed Equity Program for 2014. Nokia's goal has been to make the share options far more simplified and to do away with stock options completely. They have also announced a tightening of the criteria for the use of the restricted shares packages.

What's Included
Although there have been changes to their Equity Plan Nokia's announcement clarifies that the share options that will be available are.
  • A part salary Employee Share Purchase Plan for Nokia employees.
  • Financial Performance Shares dependent on achieving pre-determined goals.
  • Restricted Shares for exceptional recruitment and retention purposes.
The Employee Share Purchase Plan
Simply put, all Nokia employees in selected jurisdictions will be able to buy Nokia shares using their salary. They will be limited to a minimum of 60 Euros and a maximum of 1200 Euros or 10% of their salary (whichever is smallest). For every two shares bought by an employee and still owned by the employee in June 2015 Nokia will offer one additional matching share.

Performance Share Plan
The Performance aspects will be judged on Nokia's Average Annual Net Sales and Nokia continuing operations Average Annual EPS. The plan has a two-year performance period (2014-2015) and a subsequent one-year restriction period.

Nokia Corporation is a Finnish communications and Information Technology company. Their headquarters are based in Espoo, Finland. Nokia is best known for its mobile and smartphone ranges and was the world's largest supplier of mobile phones from 1998 to 2012.

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