Business Context and Reporting Period
This Form 6-K filing by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) covers the period of May 2026, specifically reporting on share buyback activities executed between May 18 and May 22, 2026. The filing serves as a disclosure of inside information pursuant to EU Regulation 596/2014 regarding the execution of the "Third Tranche" of BBVA's share repurchase program.
Key Financial Metrics
The filing focuses exclusively on capital allocation via share repurchases rather than operational financial performance. Key metrics include:
- Total Shares Purchased (May 18-22): 6,475,290 shares.
- Cash Amount Spent (Third Tranche to Date): €342,180,329.95.
- Program Utilization: Approximately 23.44% of the maximum cash amount allocated for the Third Tranche.
- Trading Venue: All reported transactions occurred on the XMAD (Madrid) exchange.
- Price Range: Weighted average prices ranged from €18.7990 to €19.3928 per share during the reporting window.
Note: The filing text does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
This report details the incremental progress of the Third Tranche buyback program following previous notices issued on December 19, 2025, and April 30, 2026. The material change is the reduction of outstanding shares and the deployment of cash reserves to repurchase equity, with the program now over one-quarter complete.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future earnings, or discussion of risks and contingencies beyond the standard regulatory disclosure of the buyback execution. The document confirms the program is active and being executed through Citigroup Global Markets Europe AG as the manager.
Investor Verification Checklist
- Verify the total authorized cash amount for the "Third Tranche" to confirm the remaining capacity (approx. 76.56% remaining).
- Confirm the total number of shares repurchased under the Third Tranche since its inception to assess the impact on diluted earnings per share.
- Review the original buyback program announcement (CNMV registration 3046 and 3187) for the maximum share count limits and expiration date.
- Check subsequent filings to monitor if the buyback pace accelerates or if the program is terminated early.