SCHEDULE: Galkins Boost Newegg Stake to 19.6% in Latest 13D Amendment

Vladimir and Angelica Galkin have increased their beneficial ownership in Newegg Commerce, Inc. to 19.6% through recent open market purchases.

Summary

• Vladimir and Angelica Galkin, as Reporting Persons, jointly filed Amendment No. 21 to their Schedule 13D regarding Newegg Commerce, Inc.
• They beneficially own 4,100,000 Common Shares of Newegg Commerce, Inc., representing approximately 19.6% of the outstanding shares.
• This ownership percentage is based on 20,966,480 shares outstanding as of September 30, 2025, as reported by the Issuer.
• The Galkins have shared voting and dispositive power over all 4,100,000 shares.
• Initial purchases of 2,222,222 shares were made by the Galkin Revocable Trust using cash and margin, which were later transferred to a joint account held by Vladimir and Angelica Galkin.
• An additional 1,877,778 shares were purchased using their own investment capital, and these shares are not held in a margin account or pledged as collateral.
• Approximately $99,577,852 was paid to acquire 4,332,385 shares, and $2,387,051 was received from the sale of 161,274 shares, resulting in the net ownership of 4,100,000 shares.
• During the past 60 days, the Galkins made numerous open market purchases of Newegg Common Stock, totaling 501,995 shares, with prices ranging from $40.12 to $90.45 per share.

Sentiment

Score: 8

Explanation: The consistent and significant purchases by a major shareholder indicate strong positive sentiment and conviction. The continued accumulation of shares by Vladimir and Angelica Galkin, increasing their stake to 19.6% through open market purchases, suggests a high degree of confidence in Newegg Commerce, Inc.'s future prospects. The use of unencumbered investment capital further reinforces this positive sentiment.

Positives

• Increased beneficial ownership by Vladimir and Angelica Galkin to 19.6% signals strong confidence in Newegg Commerce, Inc.
• The Galkins used their own investment capital for recent purchases, and these shares are not pledged or held in margin accounts, indicating a solid, unencumbered investment.
• Consistent open market purchases over the past 60 days, totaling 501,995 shares, demonstrate continued accumulation of the stock.

Future Outlook

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Industry Context

This filing reflects a significant increase in ownership by individual investors in an e-commerce company, which could be interpreted as a bullish signal for the sector or for Newegg specifically, given the ongoing shifts in retail towards online platforms.

Stakeholder Impact

• Shareholders: Increased insider ownership may be viewed positively, signaling confidence from significant investors and potentially reducing the float.

Next Steps

• The Reporting Persons undertake to provide the Issuer, any security holder, or the SEC staff all information regarding the number of shares and price of each trade comprising the weighted average price and share amounts upon request.

Key Dates

Recommendation

The consistent and substantial open market purchases by Vladimir and Angelica Galkin, increasing their beneficial ownership to 19.6% of Newegg Commerce, Inc., strongly suggest a high conviction in the company's value and future potential. Such significant insider accumulation, especially when funded by unencumbered investment capital, often precedes positive developments or reflects a belief that the stock is undervalued. For a seasoned investor, this pattern of buying by a major shareholder could be a strong signal to consider initiating or increasing a position.

Keywords

Newegg Commerce, NEGG, Schedule 13D, beneficial ownership, Vladimir Galkin, Angelica Galkin, insider buying, stock purchases, SEC filing, common shares