Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 196

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 18
Chunk 196
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 Kong, and Canada. The Company is still subject to examination for
federal income tax returns for the years 2020 through 2024, for certain U. S. state income tax returns for the years 2017
through 2024, and for certain foreign income tax returns for the years 2013 through 2024. In 2023, the Company settled the examinations
with the Internal Revenue Service for the years 2012 through 2014 and with the California Franchise Tax Board for the years
2007 through 2012. The Company is currently undergoing income tax examinations with the Internal Revenue Service for tax year 2022 and
Canadian GST/HST audit for tax years 2022 and 2023.

  12.      Common Stock  
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The Company is authorized to issue
unlimited shares of common stock with a par value of $0.43696. Each share of common stock is entitled to one vote. At December 31,
2024 and 2023, the number of shares of common stock issued and outstanding were19,478,394and19,020,675, respectively.

No common stock dividend was declared
by the Company’s Board of Directors for the years ended December 31, 2024, 2023 and 2022.

All share amounts and per share amounts
above have been retroactively adjusted for the twenty-for-one share combination, effective April 7, 2025. See Note 1.

  13.      Stock-Based Compensation  
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Legacy Newegg Inc. Stock Based Compensation

2005 Incentive Award Plan:

On September 22, 2005, the Board
of Directors approved Newegg Inc.’s 2005 Equity Incentive Plan, which was amended in January 2008, October 2009, December 2011
and September 2015 (the “ Incentive Award Plan”). Under the Incentive Award Plan, the Company may grant equity incentive
awards to employees, directors, and consultants based on Newegg Inc.’s Class A Common Stock. A committee of the Board of Directors
of Newegg Inc. determines the eligibility, types of equity awards, vesting schedules, and exercise prices for equity awards granted. Subject
to certain adjustments in the event of a change in capitalization or similar transaction, Newegg Inc. may issue a maximum of4,147,607shares
of its Class A