Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 55

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 55
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 The remaining amount will be deferred over a period of five years and paid, if the relevant conditions are met, once each of the five years of deferral has elapsed, without prejudice to any implicit or explicit adjustments that may apply and to the final result of the LTI. The part of the AVR corresponding to the LTI will only start to be paid after the Long-Term Indicators targets’ measurement period (to the result of which its final amount is subject) has elapsed. The Deferred Portion will be paid 40% in cash and 60% in BBVA shares and/or instruments linked to BBVA shares. In accordance with the provisions of the Policy, for the calculation of the share-based part of both the Upfront Portion and the Deferred Portion, the average closing price of the BBVA share between December 15, 2024 (the year to which the AVR corresponds) and January 15, 2025 (the following year), both inclusive, has been taken as a reference, which has been €9.67 per share. Pursuant to the Policy, the Board of Directors, on the proposal of the Remuneration Committee, has determined that a portion of the Deferred AVR in shares corresponding to the 2024 STI of the executive directors is awarded in BBVA stock options. Likewise, in application of the Group General Remuneration Policy, the rest of the Identified Staff will also receive part of their 2024 Annual Variable Remuneration in BBVA stock options, under terms similar to those described for executive directors. More precisely, it has been determined that from the part to be paid in BBVA shares in the framework of the second deferred payment of the STI (i.e. after the second year of deferral has elapsed), 42% will be paid in BBVA stock options, while the remaining 18% will be paid in BBVA shares. Each stock option has a BBVA share as its underlying asset. The number of stock options awarded has been calculated using the fair value of the option, determined on the basis of the reports issued by independent third parties, which is €1.3567. In accordance with the above, 165,332 stock options have been awarded to the Chair and 123,652 stock options have been awarded to the Chief Executive Offi cer. The strike price will be the average closing price of BBVA shares between December 15, 2024 and January 15, 2025, both inclusive, which was €9.67