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Managers’ shareholding

Nokia Corporation has defined the members of the Board of Directors and the members of the Group Leadership Team as persons discharging managerial responsibilities at Nokia, in accordance with the Market Abuse Regulation ((EU) No 596/2014). The managers’ holdings of Nokia securities are presented in the below table. The table is updated annually in connection with the publication of Nokia’s annual report.

Board of directors Ownership as of December 31, 2016
Mr. Risto Siilasmaa 1 282 708   
Mr. Olivier Piou 252 760   
Mr. Bruce Brown 99 961*  
Mr. Louis R. Hughes 41 827
Mr. Jean C. Monty 2 767 557
Ms. Elizabeth Nelson 45 868*
Ms. Carla Smits-Nusteling 13 921
Mr. Kari Stadigh 250 000
Group Leadership Team Ownership as of December 31, 2016
Mr. Rajeev Suri  549 480 
Mr. Basil Alwan 163 071
Mr. Hans-Jürgen Bill 10 000
Ms. Kathrin Buvac -
Mr. Ashish Chowdhary 1 746
Mr. Samih Elhage -
Mr. Barry French 133
Mr. Bhaskar Gorti 133
Mr. Federico Guillén 13 498
Mr. Timo Ihamuotila 353 120
Mr. Marc Rouanne -

*ADSs

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Nokia’s obligation to maintain and update public insider register in accordance with the Finnish Securities Market Act, ended on July 2, 2016. According to Finnish law, the register is required to be kept publicly available 12 months after that date. The information in the below register is as per July 2, 2016 and any changes to the information thereafter have not been reflected in the table.