Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 200

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 18
Chunk 200
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 schedules, and exercise prices for equity awards
granted. Subject to certain adjustments in the event of a change in control or similar transaction, the Company may issue a maximum of368,745of its Common Stock under the 2021 Plan. The Company issues new shares of its Common Stock from its authorized share pool to settle
stock-based compensation awards.

On July 21, 2022, the Board of Directors
approved the amendment of the 2021 Plan to increase the maximum share pool from368,745to818,745shares.

The following table summarizes the activity
for all restricted stock units granted:

                                                   Weighted-               
  Unvested at January 1, 2022         352,050      $               367.60  
  Granted                              14,250                       55.80  
  Vested                             ( 83,751                      367.60  
  Cancelled                          ( 51,136                      367.60  
  Unvested at December 31, 2022       231,413      $               348.40  
  Granted                               4,000                       24.59  
  Vested                             ( 77,441                      350.51  
  Cancelled                           ( 8,249                      305.60  
  Unvested at December 31, 2023       149,723      $               341.02  
  Granted                               3,500                       17.63  
  Vested                             ( 70,345                      351.28  
  Cancelled                          ( 18,441                      297.44  
  Unvested at December 31, 2024        64,437      $               324.73  

During the years ended December 31,
2024 and 2023, the Company granted3,500and4,000restricted stock units (“ RSUs”), respectively, to its executives and employees.
The vesting of each RSU is subject to the employee’s continued employment through applicable vesting dates. The RSUs are accounted
for as equity awards and are measured at fair value based upon the grant date price of the Company’s common stock. Compensation
expense is recognized on a straight-line basis over the requisite service period offour years.

On August 13, 2022 the Company issued277,289performance-based vesting restricted stock units (“ PRSUs”) to one of its executives over four performance periods
where69,322PRSUs were granted for