Company: BBVXF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0000842180-25-000033
Chunk: 146

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-07-31
Form: 6-K
Chunk 146
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 incentive of each beneficiary. Once the measurement period for the long-term indicators established for its calculation has ended (at 2027 year-end), the final amount of each beneficiary's long-term incentive will be determined, which may range from 0% to 150% of the target long term incentive. Therefore, if 100% of the pre-established targets are achieved, this incentive will amount to a total combined amount of €3,046 thousand.

In accordance with the provisions of the BBVA Group’s General Remuneration Policy, in the first half of 2025, the members of Senior Management received the upfront portion of the annual variable remuneration for the 2024 financial year, in equal parts cash and BBVA shares, with the total amount paid to all members of Senior Management for this item amounting to €2,269 thousand and 234,203 shares.

The remaining amount of the annual variable remuneration for 2024 financial year (which includes the deferred portion of short-term variable remuneration and the whole of the long-term incentive for 2024 financial year), has been deferred, in cash and in shares and/or share-linked instruments, for a period of 4 or 5 years, in accordance with the vesting and payment rules applicable in each case, depending on the date of each member’s entry into the Senior Management team.

The final amount of the deferred portion of the annual variable remuneration for the 2024 financial year will depend on the result of the long-term indicators that shall be used to calculate the long-term incentive. Furthermore, and as an ex-post risk adjustment mechanism, the deferred portion of the annual variable remuneration may be reduced if the established capital and liquidity thresholds set to ensure that payment only occurs if it is sustainable based on the Bank's payment capacity, are not reached.

The members of Senior Management that were beneficiaries received, during the first half of 2025, the deferred variable remuneration from previous financial years, the payment of which was due once the 2024 financial year had ended, along with the update of its cash portion. The payment of these amounts has been made in accordance with the vesting and payment rules applicable in each case depending on the date of each member’s entry into the Senior Management team, as established in the remuneration policies applicable in each financial year:

– 2023 Deferred AVR: the first payment of the deferred short-term incentive was made, with the members of Senior Management receiving a combined total of €549 thousand and