CHANG FRED FACHING 4

What Happened

• Fred Faching Chang, listed as a 10% owner of Newegg Commerce, Inc. (NEGG), sold a total of 30,000 shares in two open‑market transactions: 20,000 shares on 2026-05-21 for a weighted average price of $19.40 (proceeds ≈ $388,000) and 10,000 shares on 2026-05-22 for a weighted average price of $20.14 (proceeds ≈ $201,390). Combined proceeds were about $589,390. These were sales (not purchases), which are commonly routine liquidity transactions.

Key Details

• Transaction dates and reported weighted average prices:
  • 2026-05-21: 20,000 shares sold @ $19.40 (weighted average; actual prices ranged $20.55–$18.81) [Footnote F1]
  • 2026-05-22: 10,000 shares sold @ $20.14 (weighted average; actual prices ranged $20.53–$19.71) [Footnote F2]
• Total shares sold: 30,000; total reported proceeds ≈ $589,390.
• Shares owned after the transactions: not disclosed in the information provided in this summary.
• Filing: Form 4 filed 2026-05-27 for transactions on 2026-05-21 and 05-22; this appears to be filed after the typical two-business‑day reporting window (i.e., late).
• Other note: Filing states the Reporting Person is sole member/manager of Tekhill USA LLC and Nabal Spring, LLC (Footnote F3).

Context

• As a sale by a 10% owner (not an executive purchase), this is generally regarded as a liquidity or portfolio move rather than a direct bullish signal; retail investors should treat sales as less informative than purchases. The filing’s weighted‑average prices and reported ranges show the shares were sold across multiple trades; the filer offered to provide breakouts of per‑trade prices on request.