Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027348
Chunk: 142

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 142
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 other social pension systems should be limited to executive directors. The company may consider the share-based remuneration of non-executivedirectors provided they retain such shares until they are no longer serving as directors. The foregoing condition will not apply to any shares that the director must dispose of to satisfy costs related to their acquisition. Recommendation 58: In the case of variable remuneration, remuneration policies should include limits and technical safeguards to ensure that such remuneration refl ects the professional performance of the benefi ciaries and not simply the general progress of the markets or the company’s sector, or circumstances of that kind. In particular, components of variable remuneration should: A. Be tied to predetermined and measurable performance criteria that factor in the risk assumed to obtain a given outcome. B. Promote the sustainability of the company and include non-financial criteria that are suited to the long-term creation of value, such as compliance with the company’s internal rules and procedures and its risk control and management policies. 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 Corporate Governance Report of BBVA .140.. C. Be structured around achieving a balance between the fulfi lment of short, medium and long-term objectives, such that performance-related pay rewards ongoing achievement over a suffi cient period of time to appreciate its contribution to the long-term creation of value and to ensure that performance is not measured based solely on one-off,occasional or extraordinary events. Recommendation 59: The payment of variable remuneration components should be subject to suffi cient verifi cation that performance-related or other previously established conditions have been effectively fulfi lled. The criteria in relation to the required timing and methods of such verifi cation must be provided by the bodies in the annual report on the remuneration of directors, according to the nature and characteristics of each variable component. In addition, entities must evaluate whether to establish a reduction (‘malus’) arrangement based on the deferral, for a suffi cient period, of the payment of a part of the variable components that entails the total or partial loss thereof in the event this is deemed advisable due to an event occurring prior to the time of payment. Recommendation 60: Remuneration tied to company results should take into account any qualifi cations stated in the external auditor’s report that reduce such results. Recommendation 61: A signifi cant percentage of executive directors’ variable rem