Santander awards deferred share and option packages to top executives

Banco Santander ( (ES:SAN) ) has shared an announcement.

Banco Santander has disclosed a series of share and option awards to its top executives under deferred variable remuneration plans, involving the delivery of ordinary shares and the granting of American call options linked to Santander stock. Group executive chair Ana Botín, vice chair and non-executive director José Antonio Álvarez, chief executive officer Héctor Grisi and group senior executive vice-president José Antonio García Cantera all received free share awards for prior years’ performance and long-dated call options as part of the 2022 deferred plan, underscoring the bank’s continued emphasis on equity-based, performance-linked pay and alignment of senior management incentives with shareholders’ interests.

These transactions, executed off-market on 13 February 2026 at a reference opening share price of €10.192, significantly increase the equity exposure of Santander’s top leadership to the bank’s future share performance. The structure and scale of the awards highlight regulatory-driven governance around deferring variable compensation in the European banking sector, while reinforcing long-term retention and incentivisation of key executives at a time when large banks remain under scrutiny over pay practices and risk alignment.

More about Banco Santander

Banco Santander S.A. is a global banking group headquartered in Spain, offering retail and commercial banking, corporate and investment banking, and wealth management services. The bank has a strong presence in Europe and the Americas, with a focus on mass-market retail customers, SMEs, and corporate clients across its core geographies.

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