BBVA Files March 2024 6-K Report

TL;DR

BBVA filed its March 6-K, standard foreign issuer report.

AI Summary

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) filed a Form 6-K on March 1, 2024, for the month of March 2024. The filing is a report of a foreign issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934. BBVA is incorporated in Spain and its principal executive offices are located at Calle Azul 4, 28050 Madrid, Spain.

Why It Matters

This filing provides routine updates for investors and regulators regarding BBVA's status as a foreign issuer under US securities laws.

Risk Assessment

Risk Level: low — This is a routine regulatory filing and does not contain new material financial information or strategic changes.

Key Players & Entities

• BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (company) — Filer
• BBVA (company) — Commonly known name for the filer
• Madrid, Spain (location) — Principal executive offices

FAQ

Filing Documents

• d759304d6k.htm (6-K) — 20KB
• g759304g0301133224483.jpg (GRAPHIC) — 3KB
• 0001193125-24-054354.txt ( ) — 25KB

From the Filing

6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March, 2024 Commission file number: 1-10110 BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (Exact name of Registrant as specified in its charter) BANK BILBAO VIZCAYA ARGENTARIA, S.A. (Translation of Registrants name into English) Calle Azul 4, 28050 Madrid Spain (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-FForm 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): YesNo Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): YesNo Banco Bilbao Vizcaya Argentaria, S.A. ( BBVA or the Company ), in compliance with the Spanish Securities Market legislation, hereby proceeds to notify the following: INSIDE INFORMATION Further to the notice of inside information of January 30, 2024, with CNMV registration number 2084, and having received the necessary clearance from the European Central Bank, BBVA hereby notifies the execution of a temporary own share buyback program in accordance with the provisions of Regulation (EU) No. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse ( MAR ) and with Commission Delegated Regulation (EU) No. 2016/1052, of 8 March 2016 (the Delegated Regulation and, together with the MAR, the Regulations ) with a view to reducing the share capital of BBVA (the Buyback Program ) and with the terms and conditions detailed below: Purpose: To reduce BBVAs share capital by cancelling the shares acquired. Maximum cash amount: The maximum cash amount will be 781,000,000 euros. Maximum number of shares: The maximum number of BBVA shares to be acquired will be 557,285,609. Start of the execution: Execution will start on March 4, 2024. End of the execution: The Buyback Program will end no later than February 8, 2025 and, in all cases, when the maximum cash amount is reached or the maximum number of shares is acquired. However, the Company reserves the right to temporarily suspend execution of the Buyback Program or end it early in the event of any circumstance that so advises or requires. Trading venues: Purchases shall be made on the Spanish electronic trading system Continuous Market (the Continuous Market ) and on the Cboe Europe and Turquoise Europe trading platforms (the Trading Venues and each of them, a Trading Venue ). Manager: The program will be executed externally through Citigroup Global Markets Europe AG (the Manager ), which will decide independently of the Company on the timing of the purchases of BBVA shares. Conditions of the Buyback Program: The Buyback Program will be executed pursuant to the following conditions: (i)By purchasing on each Trading Day (i.e. on each day on which the Continuous Market is effectively operational for the trading of BBVA shares and that is not a Disrupted Day, as such term is defined below) the following number of shares on each of the Trading Venues (with no offsetting between them) (in each case, the Daily Target Number of Shares for the relevant Trading Venue): a)1,875,000 BBVA shares on the Continuous Market; b)1,000,000 BBVA shares on Cboe Europe; and c)175,000 BBVA shares on Turquoise Europe; save in cases of force majeure or if the Manager is not able to purchase the Daily Target Number of Shares due to restrictions deriving from the provisions of article 3(2) of the Delegated Regulation; where this occurs, it will be duly communicated in the periodic communications made in accordance with the Regulations, stating the reason why the Daily Target Number of Shares envisaged in each case was not purchased. For these purposes, Disrupted Day is understood to mean any trading session of the Trading Venues in which there is a significant disruption in the market or the market price of the BBVA shares (including if the market price falls below the par value during a substantial part of the session) or if the trading volume of the BBVA shares (excluding blocks and opening and closing auctions) is less than 2.5 times the Daily Target Number of Shares on the relevant Trading Venue. (ii)The own shares will be purchased observing in all cases the conditions and the price and volume limits established in the Regulations. In particular, it is placed on record that the Daily Target Number of Shares on each Trading Venue is less than 25% of the average daily trading volume of the BBVA shares (excluding block trades) on the corresponding Trading Venue in the month preceding this disclosure (thus complying with the provisions of article 3(3)(a) of the Delegated Regulation). The share purch

View Full Filing

View this 6-K filing on SEC EDGAR