Exhibit 4.1



NNNNNNNNNNNN .   + Georgeson LLC Toll-Free: (866) 432-2791 E-mail: Overstock@Georgeson.com   NNNNNN CN12N345N678N90 NJ NT MR A SAMPLE DESIGNATION (IF ANY) ADD 1 ADD 2 ADD   3 ADD 4 ADD 5 ADD 6 12345678901234 Primary Subscription Rights THIS SUBSCRIPTION   RIGHTS OFFERING EXPIRES AT 5:00 P.M., EASTERN TIME, ON DECEMBER 6, 2016   UNLESS THE EXERCISE PERIOD IS EXTENDED (SUCH DATE AND TIME, AS IT MAY BE   EXTENDED, THE “EXPIRATION DATE”). Overstock.com, Inc. (the “Corporation”) is   conducting a rights offering (the “Rights Offering”) in which the Corporation   is distributing non-transferable rights (the “Subscription Rights”) to the   holders of record (the “Record Holders”) of the Corporation’s common stock   (the “Common Stock”) as of 4:00 p.m., Eastern Time, on November 10, 2016 (the   “Record Date”), as described and subject to the limitations set forth in the   accompanying base Prospectus dated December 9, 2015 (the “Base Prospectus”)   and Prospectus Supplement dated November 14, 2016 (the “Prospectus Supplement”   and, together with the Base Prospectus, the “Prospectus”). Each Record Holder   will receive one Subscription Right for each ten (10) shares of Common Stock   held on the Record Date, plus one additional Subscription Right if the number   of shares of Common Stock held by the Record Holder on the Record Date is not   exactly divisible by ten. Subject to proration and other limitations   described in the Prospectus, each Subscription Right entitles the Record   Holder to subscribe (the “Basic Subscription Privilege”) for one share of   either (1) the Corporation’s Blockchain Voting Series A Preferred Stock,   $0.0001 par value per share (the “Series A Preferred”), which will be issued   as digital securities, or (2) the Corporation’s Voting Series B Preferred   Stock, $0.0001 par value per share (the “Series B Preferred”), which will be   issued as non-digital certificated or uncertificated securities, in each case   at a subscription price per share calculated as set forth below under   “SUBSCRIPTION PRICE” (the “Subscription Price”). All Record Holders may   subscribe for shares of Series B Preferred. However, only U.S. residents and   entities meeting the qualifications described below and that open an account   with Keystone Capital Corporation (“Keystone”) may purchase shares of Series   A Preferred. Individual U.S. residents must provide a Form W-9 and must be   either a U.S. citizen with a U.S. address or a U.S. permanent resident alien   who has maintained a residence in the United States for a minimum of one year   and possesses a valid U.S. Social Security number. A corporation, partnership   or limited liability company formed under the laws of the United States or   any state and that has a physical address in the United States and provides a   valid U.S. employer identification number may also purchase shares of Series   A Preferred. Subject to additional requirements that Keystone may impose, a   trust may purchase shares of Series A Preferred as described in the   Prospectus if the trust has a physical address in the United States and all   of the trustees would qualify to purchase Series A Preferred on their own   behalf. As described in the Prospectus, the Series A Preferred may be   acquired and held only by the beneficial owner, and may not be held in   “street name,” except that custodial accounts for minors will be permitted if   the custodian would qualify to purchase shares of Series A Preferred on its   own behalf. Each Record Holder who fully exercises the Basic Subscription   Privilege for shares of one series will be eligible to participate in an over-subscription   privilege (the “Over-Subscription Privilege”). Under the terms of the   Over-Subscription Privilege, subject to the conditions and limitations   described in the Prospectus, a Record Holder may be entitled to subscribe for   additional shares of the same series that such holder subscribed for pursuant   to the Basic Subscription Privilege at the Subscription Price, to the extent   that the shares are unclaimed by other Record Holders exercising their Basic   Subscription Privilege. The Record Holder named on this Rights Certificate is   entitled to the number of Subscription Rights shown on this Rights   Certificate. The method of exercise of Subscription Rights depends on whether   the Record Holder desires to subscribe for shares of Series A Preferred, shares   of Series B Preferred, or both, as described below under “METHOD OF EXERCISE   OF SUBSCRIPTION RIGHTS”. The rights of the holder of this Rights Certificate   are subject to the matters described in the Prospectus, including the   Corporation’s right to amend, modify or cancel the Rights Offering at any   time in its sole discretion. THE SUBSCRIPTION RIGHTS ARE NON-TRANSFERABLE   This Rights Certificate and the related Subscription Rights are   non-transferable. They cannot be sold, transferred or assigned to anyone else.   Only the Record Holder can exercise the Subscription Rights. SUBSCRIPTION   PRICE The Subscription Price, whether for shares of Series A Preferred or   shares of Series B Preferred, and for both the Basic Subscription Privilege   and the Over-Subscription Privilege, will be calculated as the lower of: (A)   $15.68 (the “Maximum Price”), or (B) 95% of the volume-weighted average   trading price of the Common Stock on the Nasdaq Global Market for the five   (5) trading days ending on and including December 6, 2016 (the “End of   Subscription Period Price”). You will be required to fund your subscription   at the Maximum Price. If the End of Subscription Period Price is lower than   the Maximum Price, Computershare Trust Company, N.A. (the “Rights Agent”)   will refund the difference to you promptly after the closing of the Rights   Offering. METHOD OF EXERCISE OF SUBSCRIPTION RIGHTS Series A Preferred – In   order to exercise your Subscription Rights for shares of Series A Preferred,   you must go to the Subscription Portal created by the Rights Agent located at   https://www.mydigitalshares.com and follow the instructions on the   Subscription Portal. Series B Preferred – In order to exercise your   Subscription Rights for shares of Series B Preferred, you must properly   complete and sign this Rights Certificate on the back and return it to the   Rights Agent, Computershare Trust Company, N.A., in the envelope provided,   together with payment in full for an amount equal to the Maximum Price   multiplied by the total number of shares of Series B Preferred that you are   requesting to purchase, before 5:00 p.m., Eastern Time, on December 6, 2016.   The total number of shares of Series A Preferred or Series B Preferred you   may subscribe for under the Basic Subscription Right is limited to the number   of Subscription Rights you hold. Holder ID 123456789 COY XXXX Class   Subscription Rights Rights Qty Issued XXX.XXXXXX Rights Cert # 12345678   Signature of Owner and U.S. Person for Tax Certification Signature of   Co-Owner (if more than one registered holder listed) Date (mm/dd/yyyy) + 1 2   3 4 5 6 7 8 02GXTA C L S X R T 2 C O Y C NNNNNNNNN OVERSTOCK.COM, INC.   SUBSCRIPTION RIGHTS CERTIFICATE 


    




 










. Series A   Preferred – Full payment of the Maximum Price for each share of Series A   Preferred you wish to subscribe for must be made in U.S. dollars and must be   made in accordance with the instructions on the Subscription Portal and the   accompanying Instructions for Exercise of Subscription Rights for Shares of   Blockchain Voting Series A Preferred Stock. Series B Preferred – Full payment   of the Maximum Price for each share of Series B Preferred you wish to   subscribe for must be made in U.S. dollars by (1) a personal check drawn upon   a U.S. bank payable to Computershare or (2) cashier’s check drawn upon a U.S.   bank payable to Computershare, in each case in accordance with the   “Instructions as to Use of Overstock.com, Inc. Subscription Rights   Certificates” that accompanied the mailing or distribution of the Prospectus.   Any personal check used to pay for shares of Series B Preferred must clear   the appropriate financial institutions prior to 5:00 p.m., Eastern Time, on   December 6, 2016, unless the Expiration Date is extended. The clearinghouse   may require five or more business days. Payments by money order will not be   accepted. Payments of the Subscription Price will be held in an escrow   account until five business days following the Expiration Date, unless the   Corporation cancels the Rights Offering. No interest will be paid to you on   the funds you deposit with the Rights Agent under any circumstances. If the   Subscription Price is determined to be the End of Subscription Period Price   instead of the Maximum Price as set forth above under “SUBSCRIPTION PRICE”,   the Rights Agent, promptly after the Expiration Date, will refund all excess   payments made by each Record Holder that has properly exercised Subscription   Rights. Refunds will be sent directly to the beneficial holders and will not   be sent through nominees. I apply for a portion of my entitlement in the form   of shares of Series B Preferred (no. of shares of (per share) (no. of   additional shares) (per share) pursuant to the Over-Subscription Privilege**   (no. of shares) (per share) * You must go to the Subscription Portal at   https://www.mydigitalshares.com and follow the instructions on the   Subscription Portal to complete your subscription for shares of Series A   Preferred. You can only participate in the Over-Subscription Privilege if you   have subscribed for your full entitlement of shares of one series pursuant to   the Basic Subscription Privilege. You may not participate in the   Over-Subscription Privilege if you subscribe for shares of both series   pursuant to your Basic Subscription Privilege.You may exercise your   Over-Subscription Privilege only for shares of the same series that you   subscribe for pursuant to your Basic Subscription Privilege. Please complete   all applicable information and return to: COMPUTERSHARE TRUST COMPANY, N.A.   By First Class Mail: Computershare Trust Company, N.A., Corporate Actions   Voluntary Offer, P.O. Box 43011, Providence, RI 02940-3011 By Express Mail or   Overnight Delivery: Computershare Trust Company, N.A., Corporate Actions   Voluntary Offer, 250 Royall Street, Suite V, Canton, MA 02021 DELIVERY OF   THIS RIGHTS CERTIFICATE TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE DOES NOT   CONSTITUTE A VALID DELIVERY. Any questions regarding this Rights Certificate   and Subscription Rights Offering may be directed to Georgeson LLC toll free   at (866) 432-2791 or by E-mail to Overstock@Georgeson.com ** SERIES B   PREFERRED ONLY --PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY SECTION   1:OFFERING INSTRUCTIONS (check the appropriate boxes) IF YOU WISH TO EXERCISE   ALL YOUR SUBSCRIPTION RIGHTS FOR SHARES OF SERIES B PREFERRED OR A   COMBINATION OF SHARES OF SERES A PREFERED AND SERIES B PREFERRED: I apply for   ALL of my entitlement of shares ofx <$AMOUNT> =$ Series B Preferred   pursuant to the Basic Subscription Privilege(no. of shares)(per share) OR x   <$AMOUNT> =$ and the remainder in shares of Series A Preferred.*Series   B Preferred) (no. of shares of Series A Preferred)* EXAMPLE: If you hold   1,000 Subscription Rights, your Basic Subscription Privilege permits the   purchase of 1,000 shares, in total, of Series A Preferred (via the   Subscription Portal) and Series B Preferred (by completing this Rights   Certificate). In addition, I apply for additional shares of Series B   Preferredx <$AMOUNT> =$ IF YOU WISH TO EXERCISE SOME, BUT LESS THAN   ALL, OF YOUR SUBSCRIPTION RIGHTS FOR SHARES OF SERIES B PREFERRED: I apply   forx <$AMOUNT> =$ Amount of check enclosed (payable to Computershare):$ IF YOU WISH TO SUBSCRIBE FOR SHARES OF SERIES A PREFERRED, GO TO THE   SUBSCRIPTION PORTAL AT HTTPS://WWW.MYDIGITALSHARES.COM SECTION 2:SUBSCRIPTION   AUTHORIZATION: I acknowledge that I have received the Base Prospectus and   Prospectus Supplement with respect to the Rights Offering, and I hereby   subscribe for the number of shares indicated above on the terms and   conditions specified in the Base Prospectus and Prospectus Supplement   relating to the Basic Subscription Privilege and the Over-Subscription   Privilege in the Rights Offering. Signature of Subscriber(s) (and address if   different than that listed on this Rights Certificate) Telephone number   (including area code)