The former CEO of Aedas Homes, David Martínez, received remuneration close to 9 million euros in the fiscal year ended March 31, 2026. Of this amount, 1.9 million came from the compensation linked to his departure from the company after the takeover bid launched by Neinor Homes, according to documentation submitted this Thursday to the National Securities Market Commission (CNMV).
Of the total received, 8.97 million euros were paid in cash. This amount is broken down into 849,000 euros in fixed salary, 251,000 euros in short-term variable remuneration, 4.21 million in long-term variable remuneration, 1.9 million for compensation, and 1.76 million associated with other remuneration concepts.
To these figures, 19,000 euros in in-kind remuneration are added, as well as a contribution of 120,000 euros to his savings plan, according to the annual remuneration report.
Martínez's successor in executive management, Francisco de Borja García-Egotxeaga Vergara, received no remuneration linked to the company during the analyzed fiscal year, a situation that also extends to the shareholder directors.
In contrast, the independent directors and the external director did receive fixed remuneration and, in three cases, extraordinary bonuses.
Thus, Santiago Fernández Valbuena earned 209,000 euros; Cristina Álvarez Álvarez, 144,000 euros; Javier Lapastora Turpín, 136,000 euros; Milagros Méndez Ureña, 133,000 euros; and the external director Francisco Javier Martínez-Piqueras Barceló received 118,000 euros.
The report also details that the outgoing executive director, David Martínez, as a consequence of the takeover bid formulated in the fiscal year by Neinor, was not obliged to retain the shares assigned to him under the long-term incentive plan (LTIP) for a minimum of two years. Furthermore, he was able to carry out hedging operations and will be subject to "clawback" clauses for a maximum period of two years.
Overall, the remuneration earned by all members of the developer's board of directors in the last fiscal year stood at 9.73 million euros, an amount primarily influenced by the departure of David Martínez, which occurred on February 9, 2026.
After the purchase of Aedas Homes by Neinor, the departure of the then CEO, David Martínez, was formalized, who in February of this year was appointed director of real estate development for Merlin Properties.