Director and 10% owner Fred Faching Chang filed a Form 4 with the SEC on November 9, 2026, disclosing two sales of Newegg Commerce, Inc. common shares on November 5 and November 6, 2026, executed under a Rule 10b5-1 trading plan.

Key Highlights

  • November 5 sale: 3,582 common shares were disposed of at a weighted average price of $9.0463, with individual transaction prices ranging from $8.72 to $10.05.
  • November 6 sale: 3,582 common shares were disposed of at a weighted average price of $9.2594, with individual transaction prices ranging from $9.06 to $9.55.
  • 10b5-1 plan: According to the filing, all sales of 3,582 shares made since September 1, 2026, have been made pursuant to a written plan adopted on May 21, 2026, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
  • Post-transaction holdings via Tekhill USA LLC: Following the two reported sales, Chang indirectly holds 2,818,597 common shares through Tekhill USA LLC.
  • Additional indirect holdings: Chang also indirectly holds 450,000 common shares through Nabal Spring, LLC, and directly holds 407,927 common shares.
  • Roles: Chang is listed in the filing as both a Director and a 10% Owner of Newegg Commerce, Inc. (NASDAQ:NEGG).

Chang's Two-Day Share Sales Under Pre-Established Trading Plan

According to the Form 4 filed November 9, 2026, Fred Faching Chang sold a total of 7,164 common shares of Newegg Commerce, Inc. across two consecutive trading days. On November 5, 2026, 3,582 shares were sold at a weighted average price of $9.0463, with individual prices in the range of $8.72 to $10.05. On November 6, 2026, an additional 3,582 shares were sold at a weighted average price of $9.2594, with individual prices ranging from $9.06 to $9.55. Both weighted average prices are noted in the filing as representing multiple transactions, and Chang has undertaken to provide full per-price details upon request.

The filing states that all such sales of 3,582 shares made by Chang since September 1, 2026, have been executed under a written 10b5-1 plan adopted on May 21, 2026. The plan is described as intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), and the filing's cover box for 10b5-1(c) is checked. All reported transactions are coded "S" for sales and are marked as disposals ("D").

The shares sold originated from holdings held indirectly through Tekhill USA LLC, of which Chang is described in the filing as the sole member and manager. Following the two transactions, Chang's beneficial ownership through Tekhill USA LLC stood at 2,818,597 common shares. Separately, the filing reports 450,000 common shares held indirectly through Nabal Spring, LLC, also of which Chang is the sole member and manager, and 407,927 common shares held directly. The Form 4 was signed by Alison M. Pear as Attorney-in-Fact on November 9, 2026.

What Was Disclosed

Fred Faching Chang, a Director and 10% Owner of Newegg Commerce, Inc. (NASDAQ:NEGG), disclosed the sale of 7,164 common shares over two days in November 2026 under a pre-established Rule 10b5-1 trading plan, with remaining beneficial ownership totaling over 3.6 million shares across direct and indirect accounts.