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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, 2017
Risto Siilasmaa 1 313 205   
Olivier Piou 265 583   
Bruce Brown 113 130
Jeanette Horan 12 129
Louis R. Hughes 53 956
Edward Kozel 32 654
Jean C. Monty 2 778 647
Elizabeth Nelson 59 037
Carla Smits-Nusteling 26 050
Kari Stadigh 261 090
Group Leadership Team Ownership* as of December 31, 2017
Rajeev Suri  1 366 994
Federico Guillén 24 761
Basil Alwan 176 716
Bhaskar Gorti 25 417
Igor Leprince 50 288
Marc Rouanne 239 362
Gregory Lee -
Kristian Pullola 126 156
Joerg Erlemeier 5 125
Hans-Jürgen Bill 150 853
Kathrin Buvac 38 569
Ashish Chowdhary 88 481
Barry French 108 603
Maria Varsellona 149 613
Marcus Weldon 18 953

*Includes also American Depositary Shares when applicable

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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.