SCHEDULE: Galkin Family Boosts Newegg Stake to 20.3%

Vladimir and Angelica Galkin have increased their beneficial ownership in Newegg Commerce, Inc. to 20.3% of outstanding common shares.

Summary

• Vladimir and Angelica Galkin, as reporting persons, beneficially own 4,266,666 common shares of Newegg Commerce, Inc.
• This represents approximately 20.3% of the Issuer's outstanding common stock, based on 20,966,480 shares outstanding as of September 30, 2025.
• The Galkins have shared voting and dispositive power over all 4,266,666 shares.
• The initial acquisition of 2,222,222 shares was made by the Galkin Revocable Trust using cash and margin, which were later transferred to a joint account.
• Subsequently, the Galkins used their own investment capital to purchase an additional 2,044,444 shares.
• Total cost for acquiring 4,499,051 shares was approximately $109,918,389, with $2,387,051 received from selling 161,274 shares, resulting in a net ownership of 4,266,666 shares.
• All transactions in the past 60 days were open market purchases by Vladimir and Angelica Galkin, with prices ranging from $52.52 to $90.45 per share.

Sentiment

Score: 8

Explanation: The continued accumulation of shares by Vladimir and Angelica Galkin, reaching a 20.3% stake, demonstrates strong conviction in Newegg Commerce, Inc. The fact that these shares are not held on margin further reinforces a long-term, committed investment perspective.

Positives

• Significant increase in beneficial ownership by a key investor, Vladimir and Angelica Galkin, to 20.3% of outstanding shares.
• The Galkins have continued to purchase shares in the open market over the past 60 days, indicating continued confidence in the company.
• The shares held in the Galkins' joint account are not held in a margin account or pledged as collateral, suggesting a long-term investment horizon and reduced risk of forced sales.

Future Outlook

No forward-looking statements or guidance are provided in this Schedule 13D filing, which focuses on current beneficial ownership.

Industry Context

This filing indicates a significant and increasing stake by a major individual investor in Newegg Commerce, Inc., an e-commerce company. While the filing itself does not provide industry-specific context, a substantial ownership position by an individual investor can signal confidence in the company's long-term prospects within the competitive e-commerce sector.

Comparison to Industry Standards

• This filing is an ownership disclosure and does not contain financial or operational results that can be directly compared to industry benchmarks or specific comparable companies/projects.
• The Galkins' 20.3% stake is a substantial individual holding, which is notable in any publicly traded company, especially for a company like Newegg Commerce, Inc. in the e-commerce space.

Stakeholder Impact

• Shareholders: The increased stake by a significant individual investor could be viewed positively, potentially signaling confidence in the company's value and future performance. It also means a larger portion of the company's voting power is concentrated.
• Management: The substantial ownership by the Galkins could influence strategic decisions and corporate governance, aligning interests with long-term shareholder value.

Key Dates

Recommendation

The significant increase in beneficial ownership by Vladimir and Angelica Galkin to 20.3% of Newegg Commerce, Inc. common shares, coupled with consistent open market purchases, signals strong investor confidence. This substantial stake, held without margin, suggests a long-term commitment. While this is a positive indicator, the filing itself does not provide new operational or financial data to warrant an immediate 'buy' recommendation. Instead, it reinforces a 'hold' position for existing investors, suggesting stability and potential long-term value, while new investors might consider further due diligence on the company's fundamentals beyond this ownership update.

Keywords

Newegg Commerce, NEGG, Schedule 13D, beneficial ownership, Vladimir Galkin, Angelica Galkin, common shares, stock ownership, institutional investor, SEC filing