Newspaper Taloussanomat reported that Nokia’s (OMX: NOK1V, NYSE: NOK) leaders have been actively acquiring shares in the Finnish company in recent days. The newspaper has been researching insider registry and was also told by the company that not only CEO Stephen Elop but also Chairman Risto Siilasmaa has made purchases in recent days. Board Member Henning Kagermann has also added into his holdings. Most of the moves seem to have been made last Friday and Nokia gained almost 10% in that day. The stock has continued its current rebound today. Elop has been scrutinized for his slow pace of acquiring shares in the company, which recommends decision makers to acquire shares corresponding to around 2-3 year wage.
Nokia said today that its Board of Directors has authorized the planned maximum number of stock options given to under Nokia Equity Program 2012 from 8.5 million to 11.5 million. These will be handed to senior level employees who are critical to future success of the company. Nokia specified these employees are not the CEO or the members of Nokia Leadership Team. Maximum dilution to current shareholders from the entire compensation program is under 2% and the exercise level where it would be profitable to use the options stands considerably above current market price, which is supposed to provide incentives.
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