Friday, March 11, 2011

Nokia (NOK) Pays Elop Over $6 Million to Play in its Sandbox

Former Microsoft (NASDAQ:MSFT) executive and current Nokia (NYSE:NOK) CEO Stephen Elop, has been paid over $6 million in a signing bonus for joining the mobile phone company, according to documents filed Friday.

In the filing with the U.S. Securities and Exchange Commission, it showed Elop had been paid $3.17 million in October, and will be paid another $3 million in October 2011.

Elop was also paid by Nokia to reimburse fees he had to pay to Microsoft, as well as for legal expenses.

Nokia was trading at $8.47, up $0.07, or 0.77 percent, as of 12:56 PM EST.

No comments: