Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 56

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 56
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 per share. The stock options will be exercised on their expiration date (February 15, 2029) (two years after delivery in 2027), provided that the closing price of the BBVA share on the expiration date is above the strike price. This English version is a translation of the original in Spanish for information purposes only. In case of discrepancy the original in Spanish shall prevail.

Annual Report on the Remuneration of BBVA Directors 48 The settlement will be carried out on a differences basis and the resulting amount will be delivered to the executive directors in BBVA shares. The number of shares to be delivered is determined using the following formula: No. of shares = [Stock Options x (Market Value of the Share – Strike Price)] Market Value of the Share Where: • No. of shares: number of BBVA shares, rounding up the excess to the nearest whole number resulting from the exercise of the stock options. • Stock Options: Total number of stock options exercised at the expiration date. • Share Market Value: closing price of the BBVA share corresponding to the expiration date. If this date happens to fall on a non-business day for trading purposes, the closing price of the next trading business day on which trading has not been suspended or closed will be considered for these purposes. • Strike price: the strike price of the stock option will be equivalent to the average closing price for the trading sessions between December 15, 2024 and January 15, 2025 (both inclusive). In accordance with the foregoing, in 2025 the Upfront Portion (37%) of the 2024 AVR will be paid to the executive directors, with the remaining amount, which includes the LTI initially awarded, being deferred for a period of five years. The LTI will be calculated on the basis of the result of the Long-Term Indicators (after 2027 year-end): Moreover, the 2024 Deferred AVR is subject to explicit ex post risk adjustments, which may involve the reduction, even to zero, of the part of the Deferred Portion to be vested and paid in each year, if certain capital and liquidity thresholds are not met. To this end, the Board of Directors, at the proposal of the Remuneration Committee, and following an analysis by the Risk and Compliance Committee, has approved that the capital and liquidity indicators to be taken into account to ensure that the payment of the AVR is made only to the extent that it is sustainable in terms of the Bank’s payment capacity, based on its