Galkin investors hold 21% stake in Newegg Commerce (NEGG) shares

Rhea-AI Filing Summary

Newegg Commerce, Inc. investors Vladimir and Angelica Galkin jointly report beneficial ownership of 4,392,812 common shares, representing approximately 21.0% of Newegg’s outstanding common stock.

The percentage is based on 20,966,480 common shares outstanding as of September 30, 2025. The Galkins share voting and dispositive power over all of these shares, which are held in a joint account and not in a margin account or pledged as collateral. Their position arose from an initial 2,222,222-share purchase by the Galkin Revocable Trust, later transferred into the joint account, followed by additional open-market purchases and some sales.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 31)

Newegg Commerce, Inc.

(Name of Issuer)

Common Shares par value $0.43696

(Title of Class of Securities)

G6483G100

(CUSIP Number)

Vladimir Galkin
10900 NW 97th Street, #102,
Miami, FL, 33178
(310) 880-6330

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/06/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. G6483G100

1

Name of reporting person

Galkin Vladimir

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,392,812.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,392,812.00

11

Aggregate amount beneficially owned by each reporting person

4,392,812.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

The shares of Common Stock are held jointly by Vladimir Galkin and Angelica Galkin, husband and wife. Vladimir Galkin and Angelica Galkin have shared voting power and dispositive power over 4,392,812 shares of Common Stock.

SCHEDULE 13D

CUSIP No. G6483G100

1

Name of reporting person

Galkin Angelica

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,392,812.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,392,812.00

11

Aggregate amount beneficially owned by each reporting person

4,392,812.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

21.0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

The shares of Common Stock are held jointly by Vladimir Galkin and Angelica Galkin, husband and wife. Vladimir Galkin and Angelica Galkin have shared voting power and dispositive power over 4,392,812 shares of Common Stock.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares par value $0.43696
(b)	Name of Issuer: Newegg Commerce, Inc.
(c)	Address of Issuer's Principal Executive Offices: 17560 ROWLAND STREET, CITY OF INDUSTRY, CALIFORNIA , 91748.
Item 1 Comment: This Amendment No. 31 amends the Schedule 13D filed on July 1, 2025 (the "Original Schedule 13D", and as amended by Amendment No. 1 filed on July 10, 2025, and as amended by Amendment No. 2 to Schedule 13D filed on July 14, 2025, and as amended by Amendment No. 3 to Schedule 13D filed on July 15, 2025, and as amended by Amendment No. 4 to Schedule 13D filed on July 16, 2025, and as amended by Amendment No. 5 to Schedule 13D filed on July 17, 2025, and as amended by Amendment No. 6 to Schedule 13D filed on July 18, 2025, and as amended by Amendment No. 7 to Schedule 13D filed on July 29, 2025, and as amended by Amendment No. 8 to Schedule 13D filed on August 4, 2025, and as amended by Amendment No. 9 to Schedule 13D filed on August 6, 2025, and as amended by Amendment No. 10 to Schedule 13D filed on August 7, 2025, and as amended by Amendment No. 11 to Schedule 13D filed on August 18, 2025, and as amended by Amendment No. 12 to Schedule 13D filed on August 21, 2025, and as amended by Amendment No. 13 to Schedule 13D filed on September 4, 2025, and as amended by Amendment No. 14 to Schedule 13D filed on September 12, 2025, and as amended by Amendment No. 15 to Schedule 13D filed on September 24, 2025, and as amended by Amendment No. 16 to Schedule 13D filed on September 29, 2025, and as amended by Amendment No. 17 to Schedule 13D filed on September 30, 2025, and as amended by Amendment No. 18 to Schedule 13D filed on October 10, 2025, and as amended by Amendment No. 19 to Schedule 13D filed on October 23, 2025, and as amended by Amendment No. 20 to Schedule 13D filed on November 7, 2025, and as amended by Amendment No. 21 to Schedule 13D filed on November 13, 2025, and as amended by Amendment No. 22 to Schedule 13D filed on November 20, 2025, and as amended by Amendment No. 23 to Schedule 13D filed on December 7, 2025, and as amended by Amendment No. 24 to Schedule 13D filed on December 8, 2025, and as amended by Amendment No. 25 to Schedule 13D filed on December 18, 2025, and as amended by Amendment No. 26 to Schedule 13D filed on December 19, 2025, and as amended by Amendment No. 27 to Schedule 13D filed on December 30, 2025, and as amended by Amendment No. 28 to Schedule 13D filed on January 7, 2026, and as amended by Amendment No. 29 to Schedule 13D filed on January 14, 2026, and as amended by Amendment No. 31 to Schedule 13D filed on January 22, 2026, as amended the "Schedule 13D"). This statement of beneficial ownership on Schedule 13D is jointly filed by Vladimir Galkin and Angelica Galkin, husband and wife, each a citizen of the United States of America (collectively, the "Reporting Persons" and individually, a "Reporting Person"), with respect to the shares of the common stock, par value $0.43696 per share (the " Common Stock"), of Newegg Commerce, Inc., a British Virgin Islands corporation (the " Issuer"), is hereby amended to furnish the additional information set forth herein. The address of the principal executive offices of the Issuer is 21688 Gateway Center Drive, Suite 300, Diamond Bar, CA 91765. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Original Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Originally, the Galkin Revocable Trust used cash from its capital account and margin account borrowings made in the ordinary course of business to make the purchases of 2,222,222 shares of Common Stock. Since other securities were held in the margin accounts of the Galkin Revocable Trust, it is not possible to determine the amounts, if any, of margin used originally to purchase the shares of Common Stock reported herein. On July 10, 2025, the Galkin Revocable Trust transferred 2,222,222 shares of Common Stock (representing all of its shares of Common Stock) to a joint account held by Vladimir Galkin and Angelica Galkin (together, the Galkins). Thereafter, the Galkins used their own investment capital to purchase an additional 2,170,590 shares of Common Stock, resulting in aggregate ownership of 4,392,812 shares of Common Stock. The positions held in the Galkins' joint account are not held in a margin account or pledged as collateral security for the repayment of debit balances in the account. A total of approximately i)$116,231,190 was paid to acquire 4,625,197 shares of Common Stock; and ii) $2,387,051 was received as payment for the sale of 161,274 shares of Common Stock reported herein (resulting in ownership of an aggregate net total of 4,392,812 shares of Common Stock).
Item 5.	Interest in Securities of the Issuer
(a)	As of the date hereof, each of Vladimir Galkin and Angelica Galkin may be deemed to beneficially own, in the aggregate, 4,392,812 shares of Common Stock, representing approximately 21.0% of the outstanding shares of Common Stock of Issuer.
(b)	The foregoing beneficial ownership percentages reported in this Item 5 are based upon 20,966,480 shares of Common Stock of the Issuer outstanding as of September 30, 2025, as reported in the Issuer's Report on Form 6-K, filed by the Issuer with the Securities and Exchange Commission on October 14, 2025.
(c)	See Rows 7-10 of the cover page for information regarding the power to vote or direct the vote and the power to dispose or direct the disposition of the shares of Common Stock by each of the Reporting Persons.
(d)	All the transactions involving shares of Common Stock effected during the past sixty (60) days by any of the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference. Except as otherwise noted below, all such transactions were purchases and sales of shares of Common Stock effected in the open market, and the table includes commissions paid in per share prices.
(e)	Not Applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	No person other than a Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, Common Stock beneficially owned by the Reporting Persons.
Item 7.	Material to be Filed as Exhibits.
	1. Schedule A 2. Joint Filing Agreement

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Galkin Vladimir

Signature:	Vladimir Galkin
Name/Title:	Individual
Date:	02/09/2026

Galkin Angelica

Signature:	Angelica Galkin
Name/Title:	Individual
Date:	02/09/2026

FAQ

How many Newegg Commerce (NEGG) shares do Vladimir and Angelica Galkin beneficially own?

Vladimir and Angelica Galkin beneficially own 4,392,812 Newegg Commerce common shares. These shares are held in a joint account, with the couple sharing both voting and dispositive power, reflecting a significant single-holder position in the company.

What percentage of Newegg Commerce (NEGG) does the Galkin family hold according to this Schedule 13D/A?

The Galkins report beneficial ownership of approximately 21.0% of Newegg Commerce’s outstanding common shares. This percentage is calculated using 20,966,480 shares outstanding as of September 30, 2025, as disclosed in the company’s Form 6-K filing.

How did the Galkins build their 4,392,812-share position in Newegg Commerce (NEGG)?

The position began with the Galkin Revocable Trust buying 2,222,222 shares, then transferring them to the Galkins’ joint account. The Galkins later used their own investment capital to purchase an additional 2,170,590 shares on the open market.

What total amount have the Galkins paid and received in Newegg Commerce (NEGG) share transactions?

They paid approximately $116,231,190 to acquire 4,625,197 Newegg common shares and received $2,387,051 from selling 161,274 shares. These transactions together resulted in their current net holding of 4,392,812 common shares.

Are the Galkins’ Newegg Commerce (NEGG) shares held on margin or pledged as collateral?

The Galkins’ 4,392,812 Newegg common shares in their joint account are not held in a margin account and are not pledged as collateral. This means the position is not currently securing any borrowing or debit balances in that account.

What rights do the Galkins have over dividends and sale proceeds from Newegg Commerce (NEGG) shares?

No person other than the reporting persons has the right to receive dividends or direct the receipt of sale proceeds from the Newegg shares. The Galkins retain these economic and control rights over their reported beneficial ownership stake.