Baidu affiliate proposes $10.7M depositary share sale

Baidu, Inc. is the issuer of a Form 144 notice filed by Goldman Sachs & Co. LLC on behalf of Melissa Dongmin, identified as an affiliate, for a proposed sale of 122,629 ADS, each representing eight ordinary shares.

Rhea-AI Filing Summary

Baidu, Inc. is the issuer of a Form 144 notice filed by Goldman Sachs & Co. LLC on behalf of Melissa Dongmin, identified as an affiliate, for a proposed sale of 122,629 ADS, each representing eight ordinary shares. The notice lists an aggregate market value of $10,667,496.71 and October 5, 2026 as the approximate sale date. The proposed sales are made in connection with a selling plan dated December 23, 2025, intended to comply with Rule 10b5-1(c). The past-sales table lists Melissa Dongmin Ma transactions, including 9,433 ADS on July 6, 2026, for $1,073,963.09. The ADS were acquired from the issuer in a private transaction on January 1, 2005.

Key Figures

Proposed sale: 122,629 ADS Aggregate market value: $10,667,496.71 ADS ratio: 8 ordinary shares per ADS +2 more

5 metrics

Proposed sale 122,629 ADS Proposed sale on the notice

Aggregate market value $10,667,496.71 Securities listed for sale

ADS ratio 8 ordinary shares per ADS Each ADS represents eight ordinary shares

Past sale 9,433 ADS Melissa Dongmin Ma, July 6, 2026

Aggregate value of past sale $1,073,963.09 Melissa Dongmin Ma, July 6, 2026

Key Terms

Rule 10b5-1(c), ADS, Rule 144

3 terms

Rule 10b5-1(c) regulatory

"intended to comply with Rule 10b5-1(c)"

Rule 10b5-1(c) is an SEC guideline that lets company insiders set up a written, pre-planned schedule to buy or sell their company stock when they are not in possession of material, nonpublic information. For investors, it matters because such plans can reduce the appearance of insider trading by separating decisions from inside knowledge—like putting your trades on autopilot—while also requiring scrutiny since pre-planned trades can still affect market confidence and share value.

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.

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many Baidu ADS are proposed for sale, and what is their stated market value?

The notice lists 122,629 ADS for proposed sale, with an aggregate market value of $10,667,496.71.

What plan covers the proposed BIDU ADS sale?

The notice says the sales are made in connection with a selling plan dated December 23, 2025, intended to comply with Rule 10b5-1(c). It states that the seller's representation about knowledge of material information was true when the plan was entered into.

How were the Baidu ADS covered by the notice acquired?

The notice states that the ADS were acquired from Baidu, Inc. in a private transaction on January 1, 2005.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 10/05/2026 - 06:28 PM Accepted by SEC EDGAR 10/05/2026 - 06:28 PM Learn about SEC filing dates

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	0001970587
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Baidu, Inc.
SEC File Number	000-51469
Address of Issuer	No. 10 Shangdi 10th Street Haidian District Beijing CHINA 100085
Phone	86-10-5992-8888
Name of Person for Whose Account the Securities are To Be Sold	MELISSA DONGMIN MA
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	Affiliate

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	122629	10667496.71	276192647	10/05/2026	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, lnc.			122629	01/01/2005	None

* 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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	08/03/2026	9433	1067100.58
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	07/06/2026	9433	1073963.09
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	09/08/2026	9433	864647.65
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	07/13/2026	9433	1075753.47
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	08/24/2026	9433	872778.89
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	08/17/2026	9433	970491.57
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	09/21/2026	9433	864208.07
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	09/28/2026	9433	820787.03
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	08/31/2026	9433	909661.92
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	07/27/2026	9433	997989.7
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	07/20/2026	9433	1045765.02
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	09/14/2026	9433	866776.67
Melissa Dongmin Ma No. 10 Shangdi 10th Street Haidian District Beijing F4 100085	ADS, each representing eight ordinary shares	08/10/2026	9433	1028111.16

144: Remarks and Signature

Remarks	The sales of shares set forth herein are made in connection with a selling plan dated 2025/12/23 that is intended to comply with Rule 10b5-1(c). The representation below regarding the sellers knowledge of material information was true as of the date the selling plan was entered into.
Date of Notice	10/05/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	12/23/2025
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	Goldman Sachs & Co. LLC on behalf of MELISSA DONGMIN MA
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)