Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 233

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 6
Chunk 233
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 cash portion. Payment thereof to members of Senior Management who were beneficiaries took place in 2024 in accordance with the vesting and payment rules applicable in each case depending on when they became members of the Senior Management, provided for in the remuneration policies applicable in each financial year:
•2022 deferred annual variable remuneration: in 2024, the first payment was made to the members of Senior Management
•2021 deferred annual variable remuneration: in 2024, the second payment was made to the members of Senior Management. 
•2020 deferred annual variable remuneration: given the exceptional circumstances arising from the COVID-19 crisis, all members of Senior Management voluntarily waived the accrual of the whole of their annual variable remuneration for 2020 financial year. Without prejudice to the foregoing, two members of the Senior Management, who were executives of BBVA USA at that moment, were entitled to the payment of the deferred portion of a success bonus on the sale of BBVA USA. Of this deferred portion, the whole of it was payable with respect to one person and the first payment of it with respect to the other, in accordance with the vesting and payment schedule applicable in each case pursuant to the remuneration policy applicable in that financial year. 
•2019 deferred annual variable remuneration: in 2024, the second payment was made to the members of Senior Management that were beneficiaries. In addition, it includes the second payment of the Deferred Portion of a retention plan of a member of Senior Management.
•2018 deferred annual variable remuneration: in 2024, the third and final payment was made to the members of Senior Management that were beneficiaries.
(3) 16 members at December 31, 2024 and 15 members at December 31, 2023, excluding executive directors in both cases.
In addition, in accordance with the BBVA Group’s General Remuneration Policy and contractually, members of Senior Management received fixed allowances for vehicle rental and others during the 2024 and 2023 financial years, amounting to a total of €347 thousand and €314 thousand, respectively. 
Moreover, the members of Senior Management received remuneration in kind during the 2024 and 2023 financial years, including insurance premiums and others, amounting to a total of €603 thousand and €590 thousand, respectively.
Pension commitments with Senior Management
In the 2024 financial year, to meet the pension commitments for members of