Newegg chief legal officer Michael Chen sells $884 of stock
Newegg's Chief Legal Officer, Michael Chen, sold 67 shares of the company's stock on October 1, 2026, for a total of $884. The shares were purchased under a Rule 10b5-1 trading plan. Since the sale, Newegg's stock has fallen to $11.49, nearing its 52-week low of $11.10. InvestingPro analysis suggests that Newegg may be undervalued at these prices, with the stock down 15% over the past week.
InvestingPro also provides 16 additional tips for NEGG investors. On September 30, 2026, Chen bought 105 shares of Newegg stock at $13.20 per share, totaling $1,386, and also received 105 restricted stock units (RSUs) valued at $0, part of an award of 5,000 units. Of these RSUs, 4,176 had already vested prior to Chen's appointment as a Section 16 officer, with the remaining units scheduled to vest in monthly installments until fully vested on October 31, 2026.
On the same day, Chen also sold 38 shares of Newegg stock, amounting to $501, to meet tax withholding obligations. As a result of these transactions, Chen now holds 2,388 shares of Newegg common stock and 89 derivative restricted stock units. Newegg recently announced the exclusive launch of AMD's Ryzen 7 7700X3D processor, featuring 8 cores, 16 threads, and 3D V-Cache technology.
The processor operates at a base speed of 4.0 GHz, with the ability to boost up to 4.5 GHz, and is priced at $329 for the suggested retail price.
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