The Nokia Board of Directors just approved a new long-term incentive plan (LTI Plan) which seeks to recognize, reward, and retain all talented Nokia employees, and the program will be active until December 31, 2023.
Under the new long-term incentive plan, qualified executives and employees may be granted awards in the form of performance shares and restricted shares. Depending on the award, this may be subject to applicable performance metrics as well as performance and/or restriction periods of up to 36 months. Consequently, restrictions for the last awards granted under the LTI Plan will end in 2026.
To ensure that participants will continue to support Nokia’s long-term business strategy, the Nokia Board of Directors will set annual performance metrics, as well as weightings and targets for the selected metrics for performance shares.
The maximum aggregate number of Nokia shares that may be granted to awardees until December 31, 2023, is 350 million. This is subject to certain conditions set by the Nokia Board of Directors.