Baidu (BAIDF) director Liu Xiaodan details initial share stake

Rhea-AI Filing Summary

Baidu, Inc. director Liu Xiaodan filed an initial ownership report showing direct holdings in the company. The filing lists 32,384 restricted shares that are tied to Baidu Class A ordinary shares and 13,744 Baidu Class A ordinary shares held directly.

The restricted shares were granted on February 6, 2026 and vest in two equal annual installments over a two-year period starting on the first anniversary of the grant date, contingent on continued service through each vesting date. The shares are held in the form of American depositary shares, with each ADS representing eight Class A ordinary shares.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Liu Xiaodan

Role Director

Type	Security	Shares	Price	Value
holding	Restricted Shares	--	--	--
holding	Class A ordinary shares	--	--	--

Holdings After Transaction: Restricted Shares — 32,384 shares (Direct); Class A ordinary shares — 13,744 shares (Direct)

Footnotes (1)

1. The Class A ordinary shares are held in the form of American depositary shares. Each American depositary share represents eight Class A ordinary shares. Represents restricted shares granted on February 6, 2026. The restricted shares vest per annum in two equal installments over a 2-year period, starting from the first anniversary of the grant date, subject to the reporting person's continued service through the applicable vesting date. The restricted shares do not have an expiration date.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

Liu Xiaodan

(Last) (First) (Middle)

NO. 10 SHANGDI 10TH STREET

(Street)

BEIJING CHINA 100085

(City) (State) (Zip)

CHINA

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Baidu, Inc. [ BIDU ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A ordinary shares(1)	13,744	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Shares	(2)	(2)	Class A ordinary shares	32,384	(2)	D

Explanation of Responses:

1. The Class A ordinary shares are held in the form of American depositary shares. Each American depositary share represents eight Class A ordinary shares.

2. Represents restricted shares granted on February 6, 2026. The restricted shares vest per annum in two equal installments over a 2-year period, starting from the first anniversary of the grant date, subject to the reporting person's continued service through the applicable vesting date. The restricted shares do not have an expiration date.

	/s/ Xiaodan Liu	03/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Baidu (BAIDF) director Liu Xiaodan report owning in this Form 3?

Liu Xiaodan reports direct ownership of 32,384 restricted shares linked to Baidu Class A ordinary shares and 13,744 Class A ordinary shares. These positions represent her initial reported stake as a director, combining time-vested equity awards with directly held shares.

How do Liu Xiaodan’s Baidu (BAIDF) restricted shares vest?

The restricted shares granted to Liu Xiaodan on February 6, 2026 vest over two years in two equal annual installments. Vesting starts on the first anniversary of the grant date and is conditioned on her continued service through each applicable vesting date.

In what form are Liu Xiaodan’s Baidu (BAIDF) shares held?

The Baidu Class A ordinary shares reported for Liu Xiaodan are held in the form of American depositary shares. Each American depositary share represents eight Class A ordinary shares, providing U.S. investors with an accessible way to hold an interest in Baidu.

Does Liu Xiaodan’s Baidu (BAIDF) Form 3 show any recent share purchases or sales?

The Form 3 functions as an initial ownership statement and lists holdings rather than transactions. It shows Liu Xiaodan’s restricted shares and Class A ordinary shares positions, without reporting open-market purchases, sales, or other buy or sell transactions on the reported date.

What type of security are Liu Xiaodan’s restricted shares in Baidu (BAIDF)?

The filing describes the award as restricted shares with an exercise price of zero, which are linked to Baidu Class A ordinary shares. These shares have no expiration date and are subject to time-based vesting tied to Liu Xiaodan’s continued service with the company.