Company: NEGG
Filing Date: 2025-04-28
Form Type: 20-F
Source: 0001213900-25-036055
Chunk: 199

Company: Newegg Commerce, Inc.
Filing Date: 2025-04-28
Form: 20-F
Item: Item 18
Chunk 199
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,104,673of the Company’s common stock. Cash exercises totaled10,351shares of the Company’s
common stock with proceeds of approximately $0.1million. The exercise prices ranged from $5.40to $11.00per share during the year ended
December 31, 2024.

During the year ended December 31,
2023, stock options were exercised for108,940of the Company’s common stock. Cash exercises totaled108,940shares of the Company’s
common stock with proceeds of approximately $1.2million. The exercise prices were $11.00per share during the year ended December 31,
2023.

During the year ended December 31,
2022, stock options were exercised for315,268of the Company’s common stock. Cash exercises totaled247,823shares of the Company’s
common stock with proceeds of approximately $2.9million. Cashless exercises totaled67,445shares which resulted in the Company issuing52,962net shares. The exercise prices ranged from $11.00to $14.60per share during the year ended December 31, 2022.

F-24

During the years ended December 31,
2024, 2023 and 2022, the total intrinsic value of stock options exercised was $11.3million, $1.7million, and $24.3million, respectively,
and the compensation expense for stock options granted included in “ Selling, general and administrative expenses” in the consolidated
statements of operations totaled $1.4million, $3.1million and $3.2million, respectively.

As of December 31, 2024 and 2023,
there were niland $1.4million, respectively, of unrecognized compensation costs related to nonvested options. The weighted average remaining
vesting term of the stock option was0.46years and1.46years as of December 31, 2023 and 2022, respectively.

Newegg Commerce, Inc. Stock Based
Compensation

2021 Equity Incentive Plan

On November 26, 2021, the Board
of Directors approved the Company’s 2021 Equity Incentive Plan (the “2021 Plan”). Under the 2021 Plan, the Company may
grant equity incentive awards to employees, directors, and consultants based on the Company’s Common Stock. A committee of the Board
of Directors of the Company determines the eligibility, types of equity awards, vesting