On January 14, 2026, Nokia disclosed three separate initial notifications under Article 19 of the EU Market Abuse Regulation in which senior managers received a combined total of 153,771 shares as part of the company’s incentive program. Esa Niinimäki, an Other Senior Manager, was awarded 28,784 shares; Raghav Sahgal, also an Other Senior Manager, received 89,000 shares; and Marco Wirén, Chief Financial Officer, obtained 35,987 shares. All transactions occurred outside a trading venue and reflect Nokia’s ongoing commitment to tying executive remuneration to long-term shareholder value.

Each notification (reference numbers 138647/4/4, 138653/4/4 and 138651/4/4) was filed promptly on the same day at 16:30 EET, illustrating Nokia’s strict adherence to disclosure obligations. The use of initial notifications underscores that these share grants represent first-time allocations under a new or recently updated share-based incentive scheme, rather than exercises or sales. Investors can view these filings as evidence of Nokia’s governance framework designed to maintain clarity around insider holdings and to mitigate information asymmetry in the market.

By awarding share-based incentives to both operational and financial leadership, Nokia reinforces executive alignment with shareholder interests at a time when the company is investing heavily in next-generation connectivity solutions. Total share allocations to date represent roughly 0.02% of outstanding equity, a level that is unlikely to trigger material dilution while still providing meaningful upside participation for recipients. For long-term investors, the concentration of grants among senior managers signals confidence in Nokia’s strategic roadmap and may support positive sentiment as the company scales AI-driven 5G and emerging 6G network deployments.