Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 222

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 6
Chunk 222
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 prior to the general shareholders’ meetings of March 15, 2024 and March 17, 2023 which were €8.84 and €6.58 per share, respectively.
(2)Directors appointed by the general shareholders’ meeting held on March 15, 2024; accordingly, the allocation of theoretical shares is not due until 2025. 
(3)Director appointed by the general shareholders’ meeting held on March 17, 2023; accordingly, the first allocation of theoretical shares was made in 2024.
(4)Directors who left office on March 15, 2024. In application of the system, José Maldonado Ramos and Juan Pi Llorens received a total of 154,609 and 156,699 BBVA shares, respectively, after leaving office, which is equivalent to the total of theoretical shares accumulated up to that date by each of them.
(5)Director who left office on March 17, 2023. In application of the system, she received a total of 191,423 BBVA shares, after leaving office, which was equivalent to the total theoretical shares accumulated up to that date.
Remuneration of executive directors
During the 2024 and 2023 financial years, the executive directors received the amount of the annual fixed remuneration corresponding to such financial years, established for each director in the Directors’ Remuneration Policy. 
In addition, in the 2024 and 2023 financial years, the executive directors accrued the annual variable remuneration corresponding to each such year, which was awarded once the financial year had ended, in accordance with the provisions of the Directors’ Remuneration Policy. 
In 2024 executive directors accrued a short-term incentive of €2,871 thousand in the case of Chair and €2,147 thousand in the case of Chief Executive Officer. In addition, the executive directors were awarded the right to a long-term incentive for a maximum theoretical amount of €1,929 thousand in the case of Chair and €1,443 thousand in the case of Chief Executive Officer, which is equivalent, in both cases, to 150% of their target long-term incentive. However, its final amount, which may range between 0% and 150% of the target long-term incentive, shall be calculated once the last financial year of the measurement period of the long-term indicators approved for its calculation has ended. If 100% of the pre-established objectives are achieved, the