CHANG FRED FACHING 4
4 · Newegg Commerce, Inc. · Filed May 20, 2026
Research Summary
AI-generated summary of this filing
Newegg (NEGG) 10% Owner Fred Chang Sells 152,787 Shares
What Happened
Fred Faching Chang, a reported 10% owner of Newegg Commerce, Inc. (NEGG), sold a total of 152,787 shares in a series of open-market transactions executed May 4–18, 2026. The individual trades ranged in price from the low $18s to the mid-$30s; reported proceeds across all sales totaled approximately $3,703,836. These were outright sales (not purchases or option exercises) and typically represent liquidity or portfolio-management activity rather than a direct signal of company prospects.
Key Details
- Transaction dates & sizes (shares @ reported weighted-average price = proceeds):
- 2026-05-04: 15,000 @ $31.88 = $478,230
- 2026-05-05: 3,657 @ $30.10 = $110,065
- 2026-05-06: 703 @ $32.29 = $22,702
- 2026-05-07: 6,483 @ $30.25 = $196,124
- 2026-05-08: 20,000 @ $26.25 = $525,060
- 2026-05-11: 6,944 @ $25.41 = $176,475
- 2026-05-12: 20,000 @ $23.66 = $473,200
- 2026-05-13: 20,000 @ $23.05 = $460,980
- 2026-05-14: 20,000 @ $22.52 = $450,380
- 2026-05-15: 20,000 @ $20.87 = $417,380
- 2026-05-18: 20,000 @ $19.66 = $393,240
- Total shares sold: 152,787; total reported proceeds: ~$3.70M.
- Shares owned after transaction: Not provided in the data you supplied.
- Footnotes: Several sales are reported as weighted-average prices covering multiple execution prices (ranges cited in the filing from about $34.50 down to $18.81). The filing also notes the reporting person is the sole member/manager of Tekhill USA LLC and Nabal Spring, LLC (entity disclosure).
- Filing: Form 4 filed May 20, 2026; transactions reported cover May 4–18, 2026. The filing supplied does not include an explicit tardiness flag in the provided data.
Context
- This report documents multiple open-market sales by a 10% owner. For retail investors, purchases from insiders are often taken as a clearer bullish signal than routine sales, which can reflect diversification, tax planning, or liability management. Because the reporting person is a 10% owner (not necessarily a company officer), these sales should be viewed as ownership-level transactions rather than executive compensation moves.
- See the filing footnotes for detailed per-trade price breakdowns if you need exact execution prices within the reported weighted-average ranges.
Insider Transaction Report
Form 4
CHANG FRED FACHING
Director10% Owner
Transactions
- Sale
Common Shares
[F1][F12]2026-05-04$31.88/sh−15,000$478,230→ 3,384,433 total(indirect: By LLC) - Sale
Common Shares
[F2][F12]2026-05-05$30.10/sh−3,657$110,065→ 3,380,776 total(indirect: By LLC) - Sale
Common Shares
[F3][F12]2026-05-06$32.29/sh−703$22,702→ 3,380,073 total(indirect: By LLC) - Sale
Common Shares
[F4][F12]2026-05-07$30.25/sh−6,483$196,124→ 3,373,590 total(indirect: By LLC) - Sale
Common Shares
[F5][F12]2026-05-08$26.25/sh−20,000$525,060→ 3,353,590 total(indirect: By LLC) - Sale
Common Shares
[F6][F12]2026-05-11$25.41/sh−6,944$176,475→ 3,346,646 total(indirect: By LLC) - Sale
Common Shares
[F7][F12]2026-05-12$23.66/sh−20,000$473,200→ 3,326,646 total(indirect: By LLC) - Sale
Common Shares
[F8][F12]2026-05-13$23.05/sh−20,000$460,980→ 3,306,646 total(indirect: By LLC) - Sale
Common Shares
[F9][F12]2026-05-14$22.52/sh−20,000$450,380→ 3,286,646 total(indirect: By LLC) - Sale
Common Shares
[F10][F12]2026-05-15$20.87/sh−20,000$417,380→ 3,266,646 total(indirect: By LLC) - Sale
Common Shares
[F11][F12]2026-05-18$19.66/sh−20,000$393,240→ 3,246,646 total(indirect: By LLC)
Holdings
- 450,000(indirect: By LLC)
Common Shares
[F12] - 407,927
Common Shares
Footnotes (12)
- [F1]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.50 to $30.55. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F10]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $22.88 to $20.06. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F11]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.03 to $18.81. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F12]The Reporting Person is the sole member and manager of Tekhill USA LLC and Nabal Spring, LLC.
- [F2]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.50 to $30.00. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F3]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.68 to $31.00. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F4]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.20 to $29.20. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F5]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.95 to $25.01. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F6]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $26.60 to $24.30. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F7]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $24.99 to $22.82. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F8]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $25.12 to $22.36. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F9]This price reported is a weighted average price. These shares were sold in multiple transactions at prices ranging from $23.54 to $22.13. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
Signature
/s/ Alison M. Pear, Attorney-In-Fact|2026-05-20