Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 226

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 6
Chunk 226
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 in the remuneration policies in force in each financial year:
•2022 deferred annual variable remuneration: in 2024, the first payment (20% of the deferred portion) was made to executive directors . 
•2021 deferred annual variable remuneration: in 2024, the second payment (20% of the deferred portion) was made to executive directors. 
•2020 deferred annual variable remuneration: given the exceptional circumstances arising from the COVID-19 crisis, executive directors voluntarily waived the accrual of the whole of their annual variable remuneration for 2020 financial year. 
•2019 deferred annual variable remuneration: in 2024, the second payment (20% of the deferred portion) was made to executive directors.
•2018 deferred annual variable remuneration: in 2024, the third and final payment (20% of the deferred portion) was made to the Chair. With such payment, the payment to the Chair of the 2018 deferred annual variable remuneration was completed. This remuneration was associated with his former position as Chief Executive Officer.
In addition, in accordance with the provisions established in the Directors’ Remuneration Policy and contractually, during the 2024 and 2023 financial years, the Chair received, each year, the amount of €41 thousand of fixed allowances for vehicle rental and others. Meanwhile, the Chief Executive Officer received, each year, the amount of €654 thousand of fixed remuneration in cash in lieu of pension (see “—Pension commitments with executive directors”), and the amount of €600 thousand for his mobility allowance.
Likewise, the executive directors received remuneration in kind during the 2024 and 2023 financial years, including insurance premiums and others, €140 thousand and €172 thousand in the case of the Chair and €128 thousand and €131 thousand in the case of the Chief Executive Officer, respectively.
Pension commitments with executive directors
The Bank does not have pension commitments with non-executive directors.
With regard to the executive directors, the Directors’ Remuneration Policy establishes a pension framework whereby, in the case of the Chair, he is eligible, provided that he does not leave his position as a result of a serious breach of duties, to receive a retirement pension, paid as a lump sum or in installments, when he reaches the legally established retirement age. The amount of this pension will be determined by the annual contributions made by the Bank, together with their