SCHEDULE: Galkins Boost Newegg Stake to 19.8% Amid Open Market Buys

Vladimir and Angelica Galkin have increased their beneficial ownership in Newegg Commerce, Inc. to 19.8% through recent open market purchases.

Summary

• Vladimir Galkin and Angelica Galkin (Reporting Persons) jointly own 4,141,414 shares of Newegg Commerce, Inc. Common Stock.
• This represents approximately 19.8% of the Issuer's outstanding Common Stock, based on 20,966,480 shares outstanding as of September 30, 2025.
• The Galkins have shared voting power and shared dispositive power over all 4,141,414 shares.
• The initial acquisition involved 2,222,222 shares transferred from the Galkin Revocable Trust to a joint account on July 10, 2025.
• Subsequently, the Galkins used their own investment capital to purchase an additional 1,919,192 shares.
• Approximately $102,047,177 was paid to acquire 4,373,799 shares of Common Stock.
• Approximately $2,387,051 was received from the sale of 161,274 shares of Common Stock.
• The positions held in the Galkins' joint account are not held in a margin account or pledged as collateral security.
• Recent purchases (past 60 days) include multiple transactions between September 23, 2025, and November 20, 2025, at weighted-average prices ranging from $40.12 to $90.45 per share.

Sentiment

Score: 8

Explanation: The significant and continued accumulation of shares by the Galkins, increasing their stake to nearly 20%, suggests strong insider confidence in Newegg Commerce, Inc.'s future prospects. The fact that these shares are not held on margin further reinforces a long-term, conviction-based investment.

Positives

• Significant insider accumulation of shares, increasing the stake to 19.8%, indicates strong confidence in the company's future prospects.
• The Galkins' joint account positions are not held in a margin account or pledged as collateral, suggesting a long-term investment horizon and reduced financial risk for their holdings.

Future Outlook

No specific future outlook or guidance is provided in this beneficial ownership report.

Industry Context

This filing is specific to insider ownership and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: Increased insider ownership could be seen as a positive signal of confidence in the company's value and future performance, potentially influencing investor sentiment.

Key Dates

Recommendation

The substantial and consistent accumulation of Newegg Commerce, Inc. shares by Vladimir and Angelica Galkin, culminating in a 19.8% stake, signals strong insider conviction. Their decision to hold these shares outside of a margin account further underscores a long-term investment thesis. This aggressive buying by a significant shareholder suggests they see considerable upside potential, making it a compelling 'buy' signal for other investors.

Keywords

Newegg Commerce Inc., NEGG, Schedule 13D, beneficial ownership, insider buying, stock purchases, Vladimir Galkin, Angelica Galkin, common stock, equity stake