(1)Represents the expense for all outstanding equity grants recorded during the year.

(2)	Additionally, the CEO has received EUR 113 850 (EUR 35 731 in 2021 and EUR 80 244 in 2020) other compensation such as telephone, car, driver, mobility, tax compliance support and medical insurance.

(3) Upon stepping down from his role as CEO in 2020, Nokia recorded termination benefits, EUR 5 122 317, for Rajeev Suri according to terms of his exit agreement. During 2021, the details of Rajeev Suri’s exit agreement were revised and an incentive payout factor was finalized, resulting into a credit of EUR 96 201 recorded to the income statement in 2021.

Total remuneration awarded to the Group Leadership Team for their time as members of the Group Leadership Team:


EURm	2022	2021	2020
Short-term benefits	17	20	27
Post-employment benefits⁽¹⁾	1	2	2
Share-based payments	13	12	9
Termination benefits⁽²⁾	1	–	10
Total	32	34	48

(1)The members of the Group Leadership Team participate in the local retirement programs applicable to employees in the country where they reside.

(2)	Includes both termination payments and payments made under exceptional contractual arrangements for lapsed equity awards.

Board of Directors’ compensation

The annual remuneration paid to the members of the Board of Directors, as decided by the Annual General Meetings in the respective years:


	2022			2021			2020
	Annual	Meeting	Shares	Annual	Meeting	Shares	Annual	Meeting	Shares
	fee⁽¹⁾	fees⁽²⁾	received⁽³⁾	fee⁽¹⁾	fees	received⁽³⁾	fee⁽¹⁾	fees	received⁽³⁾
	EUR	EUR	number	EUR	EUR	number	EUR	EUR	number
Sari Baldauf, Chair	440 000	–	36 217	440 000	–	43 711	440 000	5 000	48 523
Søren Skou, Vice Chair⁽⁴⁾	210 000	9 000	17 285	175 000	7 000	17 385	160 000	11 000	17 644
Bruce Brown⁽⁴⁾⁽⁵⁾	210 000	17 000	17 285	200 000	7 000	19 868	190 000	22 000	20 953
Thomas Dannenfeldt⁽⁴⁾⁽⁶⁾	200 000	9 000	16 462	185 000	7 000	18 378	175 000	–	19 299
Lisa Hook⁽⁶⁾	185 000	7 000	15 227	–	–	–	–	–	–
Jeanette Horan⁽⁵⁾⁽⁶⁾	195 000	–	16 050	185 000	7 000	18 378	175 000	20 000	19 299
Edward Kozel⁽⁵⁾⁽⁶⁾	205 000	12 000	16 874	195 000	7 000	19 372	195 000	17 000	21 504
Elizabeth Nelson	–	–	–	–	–	–	175 000	17 000	19 299
Thomas Saueressig⁽⁵⁾	180 000	7 000	14 816	–	–	–	–	–	–
Carla Smits-Nusteling⁽⁶⁾	200 000	9 000	16 462	190 000	9 000	18 875	190 000	17 000	20 953
Olivier Piou	–	–	–	–	–	–	–	11 000	–
Kari Stadigh	–	–	–	200 000	7 000	19 868	185 000	11 000	20 401
Kai Öistämö⁽⁵⁾	180 000	5 000	14 816	–	–	–	–	–	–
Total	2 205 000	75 000		1 770 000	51 000		1 885 000	131 000

(1) Annual fees consist of Board member fees and Committee chair and member fees.

(2) Meeting fees include all meeting fees paid for the term that ended at the Annual General Meeting held on 5 April 2022, and meeting fees accrued and paid in 2022 for the term that began at the same meeting.

(3) Approximately 40% of each Board member’s annual compensation is paid in Nokia shares purchased from the market, and the remaining approximately 60% is paid in cash.

(4) Annual fees in 2022 include EUR 30 000 for Bruce Brown as Chair and EUR 15 000 for Søren Skou and Thomas Dannenfeldt as members of the Personnel Committee.

(5) Annual fees in 2022 include EUR 20 000 for Edward Kozel as Chair and EUR 10 000 for Bruce Brown, Jeanette Horan, Thomas Saueressig, and Kai Öistämö as members of the Technology Committee.

(6) Annual fees in 2022 include EUR 30 000 for Carla Smits-Nusteling as Chair and EUR 15 000 for Thomas Dannenfeldt, Lisa Hook, Jeanette Horan, and Edward Kozel as members of the Audit Committee.