Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 78

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 78
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 for the accrual of variable remuneration for all the Group’s employees, must be met. The rules for the accrual, award, vesting and payment of the Annual Variable Remuneration of the members of the Identified Staff, including Senior Management, are the same as those applicable to executive directors, although these include certain specific features deriving from their status as directors, and therefore, include: ? Deferral period: at least 40% of the Annual Variable Remuneration ?60% for members of the Identified Staff with particularly high variable remuneration and members of BBVA Senior Management? shall be deferred for a period of four years. For members of BBVA’s Senior Management, as for executive directors, the deferral period will be five years. ? Payment in shares or instruments linked to shares: 50% of the Annual Variable Remuneration, including both the Upfront Portion and the Deferred Portion, will be paid in BBVA shares or in instruments linked to BBVA shares. For members of Senior Management, as well as for executive directors, the percentage will be 50% of the Initial Portion and 60% of the Deferred Portion. ? Retention period for the shares or instruments: shares or instruments awarded as Annual Variable Remuneration will be withheld for one year running from date of delivery. The foregoing shall not apply to those shares that need to be sold in order to meet the payment of taxes accruing on delivery of the shares and/or instruments. ? Prohibition on hedging strategies: the use of personal hedging strategies and insurance relating to variable remuneration and liability that could undermine the effects of alignment with prudent risk management is prohibited. ? Ex post risk adjustments: the Deferred Portion of the Annual Variable Remuneration may undergo certain ex post risk adjustments, under the same terms as for the executive directors, meaning that it will not vest, or may be reduced, if certain capital and liquidity thresholds are not met. ? Malus and clawback arrangements: the entire Annual Variable Remuneration of the members of the Identified Staff, both the part in cash and the part in BBVA shares or instruments linked to BBVA shares, will be subject to reduction and recoupment arrangements over the entire period of deferral and retention of the shares or instruments. As a result, the BBVA Group has been implementing a consistent remuneration policy over time that contributes to the execution of the strategy and sustainable performance, and that is aligned with the long-term interests of the Institution, the