Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 30

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 30
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 In case of discrepancy the original in Spanish shall prevail.

Annual Report on the Remuneration of BBVA Directors 25 Long-term incentive As in the case of the STI, the LTI of each executive director will only be awarded, once the fi nancial year to which it corresponds has ended, if the Group reaches the profi t and capital ratio thresholds approved annually by the Board of Directors for the accrual of the Annual Variable Remuneration. Its fi nal amount will be calculated taking the Target LTI established for each executive director as a reference, which represents the amount of the LTI in the event that 100% of the pre-established targets are achieved (the “Target LTI”), based on: (i) a set of metrics or indicators (both fi nancial and non-fi nancial), with targets set to be met at the end of three years, that take into account the strategy defi ned by the Group and the creation of value in the long-term (the “Long-Term Indicators”); and (ii) the corresponding scales of achievement, the weighting assigned to each Long-Term Indicator and the targets set for each of them. The fi nal amount of the LTI may range between 0% and 150% of the Target LTI. All the foregoing, as established annually by the Board of Directors, at the proposal of the Remuneration Committee. The sum of the amounts awarded for the STI and the LTI will constitute the Annual Variable Remuneration of each executive director for the fi nancial year. ? Vesting and payment of the Annual Variable Remuneration Once the Annual Variable Remuneration has been awarded in the fi nancial year following the one to which it corresponds, in accordance with the rules described above, a percentage not exceeding 40% will vest and be paid, if the relevant conditions are met, as a general rule, in the fi rst quarter of the fi nancial year (the “Upfront Portion” of the AVR). The Upfront Portion will be composed solely of a percentage of the STI. In order to ensure that the actual payment of the Annual Variable Remuneration takes place over a period that takes into account the Bank’s business cycle and its risks, the remaining amount, meaning at least 60% of the Annual Variable Remuneration, will be deferred over a period of fi ve years and will be paid, if the relevant conditions are met, once each of those fi ve years has elapsed (the “Deferred