Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 59

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 59
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 in Spanish for information purposes only. In case of discrepancy the original in Spanish shall prevail.

Annual Report on the Remuneration of BBVA Directors 50 2023 Deferred AVR A portion of 63% of the 2023 Annual Variable Remuneration of the Chair and the Chief Executive Officer was deferred for a period of five years (the “2023 Deferred AVR” or the “2023 DAVR”), to be paid after each of the five years of deferral, without prejudice to the corresponding implicit or explicit adjustments, if any, and the final result of the LTI. The first two payments to be made in 2025 and, as the case may be, in 2026 correspond to the deferred portion of the 2023 Short-Term Incentive (the “2023 Deferred STI”), in equal parts each year. The 2023 Deferred STI will be paid 40% in cash and 60% in BBVA shares and/or BBVA stock options. The last three payments to be made, if so, in 2027, 2028 and 2029 correspond to the 2023 Long-Term Incentive (the “2023 LTI”), which will only begin to be paid once the target measurement period for the Long-Term Indicators (at 2026 year-end) to be used to calculate its final amount has elapsed. This will be reported in the Annual Report on the Remuneration of Directors for financial year 2026. The LTI will be paid 40% in cash and 60% in BBVA shares. At year-end 2024, the interim result of the Long-Term Indicators is as follows: (1) The information presented for this indicator is the result of the aggregation of the different sectors, weighted according to their relative weight. (2) Percentage to be achieved in 2026 over the reduction targets set for the period running from December 31, 2022 (baseline scenario) to December 31, 2030. In addition, both the 2023 Deferred STI and the 2023 LTI may undergo explicit ex post risk adjustments that could reduce the amount payable, even to zero, of the portion that vests and becomes payable in each financial year, in the event that certain thresholds for the capital and liquidity indicators (Common Equity Tier 1 – CET1– and Liquidity Coverage Ratio – LCR–) approved by the Board of Directors are not reached: (1) Calculated