Company: BBVXF
Filing Date: 2025-02-14
Form Type: 6-K
Source: 0001193125-25-027343
Chunk: 93

Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Filing Date: 2025-02-14
Form: 6-K
Chunk 93
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 good results obtained by the Bank in 2022 and, secondly, to the fact that 2022 was the fi rst year in which the change in the payment schedule was implemented for deferred variable remuneration, as per the BBVA Directors’ Remuneration Policy approved at the Annual General Shareholders’ Meeting held on April 20, 2021, by virtue of which the Deferred AVR awarded under such policy is payable pro rata over each of the fi ve years of deferral. The overlap of this payment schedule with those in place under director remuneration policies applicable to variable remuneration in previous fi nancial years results in an increase in deferred variable remuneration accrued in 2022 (paid in 2023) compared to that accrued in 2021 (paid in 2022).—The difference in remuneration between 2020 and 2021 is due to the fact that in 2020 the executive directors did not accrue any AVR, having voluntarily waived such remuneration due to the exceptional circumstances that arose from the COVID-19 crisis. Moreover, in the case of the Chair, the variation is due to the transformation of his pension system under the Directors’ Remuneration Policy approved in 2021, which led to a reduction in the pension contribution and the redistribution of the corresponding amount between the Annual Fixed Remuneration and Target Annual Variable Remuneration. This English version is a translation of the original in Spanish for information purposes only. In case of discrepancy the original in Spanish shall prevail.

Annual Report on the Remuneration of Directors of BBVA 78 In the case of the non-executive directors:—The difference in the remuneration of José Maldonado Ramos and Juan Pi Llorens between fi nancial years 2024 and 2023 is due to the fact that they left offi ce as directors in 2024 and thereafter, under the terms of the fi xed remuneration system with deferred delivery of BBVA shares, they received a total of 154,609 BBVA shares and 156,699 BBVA shares, respectively, at the share price on the date of delivery. The difference in Sonia Dulá’s remuneration between these same fi nancial years is due to the fact that she was appointed by the General Meeting in 2023. Therefore, she did not hold the position throughout all of 2023.—The difference in the remuneration of Connie Hedegaard Koksbang between fi n