Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 29

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 29
---
, in the event of a downturn in the Group’s results or other parameters, such as the level of achievement of budgeted targets. In line with the corporate variable remuneration model applicable to the BBVA Group’s workforce, the annual variable remuneration of the executive directors includes a short-term incentive that is granted annually and refl ects performance, as measured through the achievement of targets set to assess the results obtained in each year for a series of indicators aligned with the most relevant management metrics and with the strategic priorities defi ned by the Group (the “Short-Term Incentive” or “STI”). In addition, the annual variable remuneration of executive directors includes a long-term incentive that refl ects performance over a multi-year horizon, with the determination of its fi nal amount depending on the result of a series of long-term indicators, with targets set to be met at the end of three years, which allow for an assessment of the results and compliance with the Group’s strategy in the long-term (the “Long-Term Incentive” or “LTI”). The annual variable remuneration will be aligned with the applicable regulatory framework, as well as with the principles governing the Directors’ Remuneration Policy. In no event will variable remuneration limit the Group’s capacity to strengthen its capital base in accordance with regulatory requirements, and it will take into account current and future risks as well as the cost of capital and liquidity that are necessary, refl ecting performance that is sustainable and commensurate to risk. Short-Term Incentive The STI of each executive director will be calculated taking as reference the Target STI established for each of them, which represents the amount of the STI in the event that 100% of the pre-established targets are achieved (the “Target STI”), based on: (i) a set of metrics or indicators (both fi nancial and non-fi nancial) subject to an annual measurement period, which take into account the strategic priorities established by the Group, as well as current and future risks (the “Annual Indicators”); and (ii) the corresponding scales of achievement, the weighting assigned to each indicator and the targets set for each of them. The amount of the STI may range between 0% and 150% of the Target STI. All the foregoing, as established annually by the Board of Directors, at the proposal of the Remuneration Committee. This English version is a translation of the original in Spanish for information purposes only.