Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 216

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 6
Chunk 216
---
 incentive.
•The short-term incentive shall be calculated on the basis of: (i) annual indicators (financial and non-financial); (ii) scales of achievement, as per the weightings allocated to each indicator; and (iii) a target short-term incentive, representing the amount of the short-term incentive if 100% of the pre-established targets are met. The resulting amount shall constitute the short-term incentive of each beneficiary. 
•The long-term incentive shall initially be awarded should the previously referred level of profit and capital ratio be achieved. However, its final amount, which may range between 0% and 150% of the target long-term incentive (representing the amount of the long-term incentive if 100% of the pre-established targets are met), shall be calculated once the last financial year of the measurement period of the long-term indicators approved for its calculation has ended. The calculation of the long-term incentive shall be done on the basis of: (i) long-term indicators (financial and non-financial) with a four-year measurement period; (ii) scales of achievement, as per the weightings allocated to each indicator; and (iii) a target long-term incentive. The resulting amount shall constitute the long-term incentive of each beneficiary. 
•The sum of the amounts of the short-term incentive and the long-term incentive will constitute the annual variable remuneration of each beneficiary for a given financial year. 
•The annual variable remuneration shall be subject to specific rules regarding its vesting and payment, including the following:
◦Once the annual variable remuneration has been awarded, a percentage not exceeding 60% of the annual variable remuneration for members of the Identified Staff and 40% of the annual variable remuneration for executive directors, Senior Management and those members of the Identified Staff with particularly high variable remuneration shall vest and be paid, if conditions are met, as a general rule, in the first quarter of the financial year following that to which it corresponds (the upfront portion).
◦At least 40% of the annual variable remuneration for members of the Identified Staff and 60% of the annual variable remuneration for executive directors, Senior Management and those members of the Identified Staff with particularly high variable remuneration amounts shall be deferred over a period of four years, in the case of members of the Identified Staff, and of five years, in the case of executive directors and Senior Management (the deferred portion). The deferred portion shall be paid, if conditions