SCHEDULE: Galkins Boost Newegg Stake to 20.2%

Vladimir and Angelica Galkin have increased their beneficial ownership in Newegg Commerce, Inc. to 20.2% of outstanding common shares.

Summary

• Vladimir and Angelica Galkin (Reporting Persons) beneficially own 4,233,333 shares of Newegg Commerce, Inc. Common Stock.
• This represents approximately 20.2% of the Issuer's outstanding shares, based on 20,966,480 shares as of September 30, 2025, as reported in the Issuer's Form 6-K.
• The Galkins have shared voting and dispositive power over all these shares.
• The initial acquisition involved the Galkin Revocable Trust using cash and margin, which later transferred 2,222,222 shares to a joint account held by Vladimir and Angelica Galkin on July 10, 2025.
• Subsequently, the Galkins used their own investment capital to purchase an additional 2,011,111 shares.
• The current holdings in the Galkins' joint account are not held in a margin account or pledged as collateral security.
• Approximately $108,178,501 was paid to acquire 4,465,718 shares of Common Stock, and $2,387,051 was received from the sale of 161,274 shares, resulting in a net ownership of 4,233,333 shares.
• Numerous open market purchases were made by the Galkins between October 21, 2025, and December 19, 2025, with prices ranging from $44.44 to $90.45 per share.

Sentiment

Score: 7

Explanation: The significant increase in beneficial ownership by Vladimir and Angelica Galkin, reaching 20.2% of outstanding shares, coupled with consistent open market purchases and the use of personal investment capital not on margin, indicates strong insider confidence in Newegg Commerce, Inc. This accumulation suggests a positive long-term view from these key individuals.

Positives

• Increased insider ownership, with Vladimir and Angelica Galkin now holding a significant 20.2% of Newegg Commerce, Inc.
• The Galkins have used their own investment capital for recent purchases, and their current holdings are not held in a margin account or pledged as collateral, indicating strong conviction and reduced financial risk for their position.
• Consistent open market purchases over the past 60 days suggest continued confidence in the company's value by these significant individual investors.

Risks

• No specific risks related to the company's operations or financial health are mentioned in this Schedule 13D filing, as it focuses solely on beneficial ownership.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the Issuer's future performance or operations.

Industry Context

This filing reflects a significant increase in beneficial ownership by individual investors, Vladimir and Angelica Galkin, in Newegg Commerce, Inc., an e-commerce company. While not directly tied to broader industry trends, substantial insider accumulation can signal confidence in the company's future prospects within the competitive e-commerce landscape, potentially indicating a belief that the company is undervalued or poised for growth.

Comparison to Industry Standards

• This filing is an ownership disclosure and does not contain financial results or operational metrics that can be directly compared to global industry benchmarks or specific comparable companies/projects.
• The increase in insider ownership to 20.2% is a notable concentration for individual investors, which can be higher than typical institutional or individual stakes in many publicly traded companies, but its impact is specific to Newegg's capital structure and investor base.

Stakeholder Impact

• Shareholders: Increased insider ownership may be viewed positively, signaling confidence from significant individual investors and potentially aligning their interests more closely with other shareholders.
• Company Management: A large insider stake can influence strategic decisions and corporate governance, potentially leading to more aligned long-term planning.

Key Dates

Recommendation

The substantial increase in beneficial ownership by Vladimir and Angelica Galkin to 20.2% of Newegg Commerce, Inc. shares, funded by personal capital and not on margin, signals strong insider confidence. This accumulation, particularly through consistent open market purchases, suggests these significant investors see long-term value. While this is a positive indicator, the filing itself does not provide new operational or financial data to warrant an immediate 'buy' or 'sell' recommendation. It primarily confirms a significant shift in ownership concentration. Therefore, a 'hold' recommendation is appropriate, advising investors to maintain their current positions while monitoring future company performance and any further insights from these key stakeholders.

Keywords

Newegg Commerce, NEGG, Schedule 13D, Beneficial Ownership, Insider Ownership, Stock Purchases, Vladimir Galkin, Angelica Galkin, E-commerce