Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027348
Chunk: 143

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 143
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uneration should be tied to the award of shares or fi nancial instruments whose value is linked to the share price. Recommendation 62: Once the shares, options or fi nancial instruments corresponding to the remuneration systems have been allocated, the executive directors may not transfer their ownership of or exercise them until a period of at least three years has elapsed. An exception to the above is made in the event that the director has, at the time of transfer or exercise, a net economic exposure to the change in the price of shares for a market value equal to at least twice their annual fi xed remuneration through the ownership of shares, options or other fi nancial instruments. The foregoing shall not apply to any shares that the director may need to dispose of in order to cover the costs associated with their acquisition or, subject to approval by the Remuneration Committee, in the event of extraordinary situations that require it. Recommendation 63: Contractual arrangements should include provisions that permit the company to request the reimbursement of variable remuneration components when the payment thereof was not in line with the conditions applicable to the director’s performance or was based on data subsequently found to be incorrect. Recommendation 64: Resolution or termination payments should not exceed an amount equal to two years of the director’s total annual remuneration and should not be paid until the company confi rms that the director has met the predetermined performance criteria or conditions established for the receipt thereof. For purposes of this recommendation, contractual resolution or termination payments shall include any credits whose accrual or payment obligation arises upon or as a consequence of the termination of the contractual relationship linking the director with the company, including unvested amounts in long-term savings systems and amounts awarded in connection with post-contractual non-competeagreements. As a complement to Recommendation 64, it should be noted that, in accordance with the provisions of the BBVA Directors’ Remuneration Policy, approved at the 2023 Annual General Meeting, the Bank has no commitments to pay indemnities to executive directors. As set out in the above-mentioned Remuneration Policy, the contractual framework defi ned for the executive directors establishes a post-contractual non-competitionclause for executive directors, effective for a duration of two years after they leave their role as BBVA executive directors, provided that they do not leave due to retirement, disability or serious dereliction of duties. In compensation for this arrangement, the executive directors will receive from the Bank a remuneration in a total amount equivalent to one fi