Company: BBVXF
Filing Date: 2025-02-21
Form Type: 20-F
Source: 0000842180-25-000010
Chunk: 215

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-21
Form: 20-F
Item: Item 6
Chunk 215
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 2025 and 2026 was approved by the general shareholders’ meeting held on March 17, 2023, by a majority of 95.03% (the “Directors’ Remuneration Policy”). This policy is available on our website (www.bbva.com).
BBVA has defined its Directors’ Remuneration Policy on the basis of the same general principles that govern the BBVA Group’s General Remuneration Policy, last updated by the Board of Directors on March 29, 2023 (the “BBVA Group’s General Remuneration Policy”). These policies take into consideration compliance with legal requirements applicable to credit institutions and those applicable in the different sectors in which it operates, as well as alignment with best market practices, and include items devised to reduce exposure to excessive risks and to adjust remuneration to the targets, values and long-term interests of the Group. 
On the basis of the principles of the BBVA Group’s General Remuneration Policy, and pursuant to the statutory requirements established by applicable regulations, BBVA has devised a specific incentive system for staff whose professional activities have a significant impact on the risk profile (the “Identified Staff”), which includes BBVA executive directors and BBVA Senior Management, that is aligned with the regulations and recommendations applicable to the remuneration schemes for this staff. The result is a remuneration scheme for the Identified Staff based, inter alia, on the following basic characteristics, with the particularities set forth below for BBVA executive directors and BBVA Senior Management: 
•Adequate balance between the fixed and variable elements of total remuneration, in line with applicable regulations, designed to provide flexibility with regard to payment and amounts of the variable components, allowing for such components to be reduced, in part or in full, where appropriate. The proportion between the two elements is established in accordance with the type of functions carried out by each beneficiary.
•The variable remuneration shall be aligned with effective risk management and linked to the level of achievement of financial and non-financial targets previously established and defined at the Group, area and individual levels, that take into account present and future risks assumed and the Group’s long-term interests. 
•The variable remuneration for each year will not accrue, or will accrue in a reduced amount, should a certain level of profit and capital ratio not be achieved, thus being subject to ex ante adjustments. 
•The annual variable remuneration currently comprises two components: a short-term incentive and a long-term