Awfis Space Solutions Limited has granted 10,000 employee stock options under its Employee Stock Option Scheme 2024, following approval from the Nomination and Remuneration Committee on January 05, 2025. The committee meeting was held from 03:19 P.M. to 03:32 P.M., where the grant was approved for eligible employees of the company.

Grant Details and Pricing Structure

The employee stock options have been granted with specific terms designed to incentivize employee retention and performance. The key parameters of the grant are structured as follows:

The pricing formula allows the committee to provide a discount of up to 30% or any other percentage as determined, while ensuring the exercise price does not fall below the face value of the company's shares. The granted options are priced at ₹345.73 per option, representing approximately 30% of the market price based on the closing price of the previous trading day from the grant date.

Vesting and Exercise Framework

The options follow a structured vesting schedule designed to promote long-term employee engagement. The vesting framework includes several key components:

• Vesting Period: Four years with 25% vesting on completion of each 12-month period
• Vesting Commencement: One year from the grant date
• Maximum Vesting Period: Up to six years from grant date at committee discretion
• Exercise Window: Maximum of two years from respective vesting dates
• Share Conversion: Each option converts to one equity share upon exercise

The scheme will be implemented through direct route, where the company will allot fresh shares directly to employees upon exercise of vested options. All vested options must be exercised within the specified timeframe, failing which they will lapse.

Regulatory Compliance and Scheme Structure

The ESOP Scheme 2024 operates in full compliance with SEBI regulations, specifically the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The scheme is administered by the Nomination and Remuneration Committee, which has the authority to determine eligibility criteria and grant terms.

Employee Categories and Cessation Provisions

The scheme includes comprehensive provisions for different employee scenarios, ensuring fair treatment across various circumstances. The framework addresses continuous employment, retirement, permanent incapacity, and other cessation scenarios with specific timelines and conditions for option exercise.

For employees in continuous service, all vested options remain exercisable within the standard two-year window. Special provisions exist for retirement or superannuation cases, where vested options retain their full exercise period, and unvested options continue vesting according to original schedules in accordance with company policies.

Corporate Governance and Documentation

The grant notification was filed under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring full transparency with stock exchanges. The company has provided detailed annexures outlining exercise conditions, cessation scenarios, and required documentation for various circumstances including nominee appointments and legal heir processes.

Awfis Space Solutions Limited has announced significant changes in its senior management, with the resignation of Chief Financial Officer Ravi Dugar and the appointment of Sumit Rochlani as his successor. The Board of Directors approved these decisions during their meeting held on January 5, 2026, in compliance with SEBI regulations.

Board Meeting and Regulatory Disclosure

The company has made the announcement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting details and regulatory compliance information are outlined below:

CFO Transition Timeline

The leadership transition involves a carefully planned handover to ensure business continuity. The key timeline and appointment details are structured as follows:

Ravi Dugar's Departure and Achievements

Ravi Dugar has served as Chief Financial Officer and Key Managerial Personnel for over three years, during which he played a crucial role in the company's growth trajectory. In his formal resignation letter submitted to the Board, Dugar highlighted his contribution to Awfis's successful Initial Public Offering (IPO) and the company's transformation into a listed entity as significant achievements during his tenure.

Dugar cited the pursuit of better career opportunities as the reason for his resignation. He expressed gratitude for the trust and support extended by the Board, colleagues, and the wider team throughout his service period. The outgoing CFO has committed to ensuring a smooth transition of responsibilities and will extend full support in onboarding his successor.

New CFO Profile and Expertise

Sumit Rochlani's appointment as the new Chief Financial Officer comes following due recommendations from the Nomination & Remuneration Committee and subsequent approval from the Audit Committee. His professional qualifications and experience are detailed below:

Rochlani brings extensive expertise across multiple finance domains, including Audit, Controllership, Financial Planning & Analysis (FP&A), Corporate Finance, and Indirect Taxation.

Regulatory Compliance and Authorization

The company has fulfilled all regulatory disclosure requirements under the SEBI regulations. The Board has authorized the Chief Financial Officer as Key Managerial Personnel to determine materiality of events and ensure adequate disclosures going forward. All relevant information and documentation have been made available on the company's website in the investor relations section.

The transition represents a planned succession to maintain continuity in financial leadership while bringing fresh expertise to support the company's continued growth in the flexible workspace sector.