Business Context and Reporting Period
This Form 6-K filing by Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) covers the month of April 2026. The document serves as a notification of inside information regarding the Board of Directors' resolution on April 29, 2026, to execute a third tranche of its share buyback program.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity ratios. The only financial figures disclosed relate to the capital reduction program:
- Maximum Cash Amount: Up to EUR 1,460 million.
- Maximum Number of Shares: Up to 429,552,243 shares.
Material Changes
The material change reported is the authorization of a new share repurchase tranche (Third Tranche) under Program Scheme 1. This follows a previous notice dated December 19, 2025, regarding the first tranche. The purpose of this tranche is to reduce BBVA's share capital by cancelling the acquired shares.
Guidance, Outlook, and Program Details
Management has outlined specific parameters for the execution of the Third Tranche:
- Execution Period: Starts May 6, 2026. Ends no earlier than July 2, 2026, and no later than August 3, 2026 (subject to postponement until August 17, 2026, for excluded days).
- Manager: Citigroup Global Markets Europe AG will manage the execution independently.
- Trading Venues: Purchases will occur on the Spanish Continuous Market, Cboe Europe, Turquoise Europe, and Aquis Exchange.
- Daily Limits: The manager must purchase at least 500,000 shares per trading day, subject to a maximum of 25% of the average daily volume per venue.
- Termination Rights: The company reserves the right to suspend or terminate the program early if circumstances require.
The filing contains no specific forward-looking guidance on earnings or economic outlook beyond the buyback schedule.
Investor Verification Checklist
- Verify the total cumulative amount spent on share buybacks across all tranches to date.
- Confirm the current share price relative to the nominal value to assess the impact of the buyback on earnings per share.
- Monitor periodic communications for updates on the daily execution volume and any suspensions of the program.
- Review the full "Program Scheme 1" terms referenced from the December 2025 filing for overarching conditions.