With confirming the closing of Salo plant, almost everyone was thinking what Nokia do next to survive or to keep its people survive, and here it is: in order to breathe in fresh air, the company announced today that its Board of Directors authorized an adjustments to the planned maximum number of stock options, the company will grant in 2012 under the Nokia Stock Option Plan 2011, and was approved at the Annual General Meeting 2011. The stock options to be granted under the Nokia Equity Program 2012 increased from approximately 8.5 million to approximately 11.5 million.
None of the additional stock options will be taken by CEO Stephen Elop and the Nokia Leadership Team members but rather to key senior level employees who are critical in carrying forward Nokia’s strategy. In today’s announcement, the company notes:
“We believe this is a prudent use of stock options, also designed to align the interests of these key employees with those of the shareholders. Any realization of the value from the stock option awards is dependent on successful execution of the strategy and a sustainable share price growth over the long term.”