Baidu, Inc. (NASDAQ: BIDU) files Form 144 disclosing ADS sale intent

Rhea-AI Filing Summary

Baidu, Inc. submitted a Form 144 notice relating to proposed sales of ADSs, where each ADS represents eight ordinary shares. The filing states the ADSs were acquired from the issuer in a private transaction on 01/01/2005 and were acquired "for service rendered." The form lists broker information for Goldman Sachs & Co. LLC and includes filing metadata dated 04/01/2026.

Insights

Securities Lawyer

Form 144 notifies the market of an affiliate's intent to sell restricted ADSs; it does not itself execute a sale.

Form 144 provides the statutory notice required for proposed sales by affiliates of restricted or control securities. The filing here identifies the security as an ADS representing eight ordinary shares and records an acquisition date of 01/01/2005 described as "for service rendered."

Timing and transactional mechanics are not stated; subsequent sale execution, broker-dealer arrangements, and any volume limitations under Rule 144 depend on facts not disclosed here. Subsequent filings or broker reports will show if and when the sales occur.

Key Terms

ADS, private transaction, Form 144

3 terms

ADS financial

"ADS, each representing eight ordinary shares"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

private transaction regulatory

"Acquired from issuer in private transaction"

A private transaction is the sale or transfer of securities, assets, or ownership stakes carried out directly between a small number of parties rather than on a public exchange. For investors it matters because these deals are less visible and often less liquid than public trades, so pricing can be harder to verify, the investment can be harder to sell quickly, and buyers or sellers may gain strategic advantages not available in open markets — like negotiated terms similar to a private garage sale versus a crowded marketplace.

Form 144 regulatory

"Filer Information | 144: Filer Information"

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
ADS, each representing eight ordinary shares	Goldman Sachs & Co. LLC 200 West Street New York NY 10282	132113	14783444.7	274750119	04/01/2026	NASD

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
ADS, each representing eight ordinary shares	01/01/2005	Acquired from issuer in private transaction	Baidu, Inc.			132113	01/01/2005	For service rendered

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Baidu's (BIDU) Form 144 mean?

A Form 144 notifies the market of a proposed sale of restricted or control securities by an affiliate. This filing lists ADSs representing eight ordinary shares and an acquisition date of 01/01/2005, indicating the holder intends to give public notice before selling.

Does Baidu's Form 144 confirm a sale has occurred for BIDU ADSs?

No. Form 144 alone is a statutory notice of intent to sell, not proof of a completed sale. The filing here documents intent and acquisition details; actual sales would appear in subsequent trade reports or Form 4/transaction confirmations.

What security is referenced in the BIDU Form 144?

The filing references American Depositary Shares (ADSs), each representing eight ordinary shares. The ADSs were reported as acquired in a private transaction on 01/01/2005 for service rendered.

Who is listed as the broker on Baidu's Form 144?

The filing lists Goldman Sachs & Co. LLC with an address at 200 West Street, New York, NY. Broker involvement is noted on the form, but execution details and sale amount are not provided in the excerpt.