Gong Yu details major iQIYI (IQ) option grants and share stakes
Filing Impact
Filing Sentiment
Form Type
3
Rhea-AI Filing Summary
iQIYI, Inc. director and Chief Executive Officer Gong Yu has filed a Form 3 to disclose his existing equity interests in the company. The filing lists multiple option grants over iQIYI Class A ordinary shares, including options over 22,415,024 underlying shares at an exercise price of 0.2500 per share and additional grants at 0.2964 and 0.5119 per share, with expirations ranging from 2030 to 2035. Footnotes explain that many of these options have fully vested under four-year schedules, while newer grants continue to vest over four years, typically with 25% vesting on the first anniversary and the remainder in equal quarterly or annual installments. The filing also shows indirect ownership of 8,186,889 Class A ordinary shares through Cannes Ventures Limited.
Positive
- None.
Negative
- None.
Insider Trade Summary
18 transactions reported
Mixed
18 txns
Insider
Gong Yu
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Option (right to buy) | -- | -- | -- |
| holding | Class A ordinary shares | -- | -- | -- |
Holdings After Transaction:
Option (right to buy) — 22,415,024 shares (Direct);
Class A ordinary shares — 8,186,889 shares (Indirect, By Cannes Ventures Limited)
Footnotes (1)
- The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 10/18/2010, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 12/15/2014, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 12/15/2014, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 02/23/2015, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 08/05/2016, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 02/14/2017, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 02/28/2018, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 06/22/2019, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 04/01/2021, and the remaining 75% vested in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options have fully vested over a four-year period, with 25% vested on the 1st anniversary of 03/11/2022, and the remaining 75% vesting in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options vest over a four-year period, with 25% vested on the 1st anniversary of 06/03/2023, and the remaining 75% vesting in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options vest over a four-year period, with 25% vested on the 1st anniversary of 04/29/2024, and the remaining 75% vesting in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options vest over a four-year period, with 25% vesting on the 1st anniversary of 04/12/2025, and the remaining 75% vesting in 12 equal quarterly installments beginning one calendar quarter after the date of the aforesaid anniversary. The options vest over a four-year period, with 25% vesting on each of the 1st, 2nd, 3rd and 4th anniversary of 03/11/2022. The options vest over a four-year period, with 25% vesting on each of the 1st, 2nd, 3rd and 4th anniversary of 06/03/2023. The options vest over a four-year period, with 25% vesting on each of the 1st, 2nd, 3rd and 4th anniversary of 04/29/2024. The options vest over a four-year period, with 25% vesting on each of the 1st, 2nd, 3rd and 4th anniversary of 04/12/2025.
FAQ
What does Gong Yu’s Form 3 for iQIYI (IQ) disclose?
The Form 3 discloses Gong Yu’s existing equity interests in iQIYI, Inc., including multiple option grants over Class A ordinary shares and indirect share ownership. It is an initial ownership report, not a record of recent share purchases or sales.
What option positions does Gong Yu hold in iQIYI (IQ) according to this filing?
Gong Yu holds several option grants over iQIYI Class A ordinary shares, including one covering 22,415,024 underlying shares at an exercise price of 0.2500 per share and additional grants at 0.2964 and 0.5119 per share, with expirations extending from 2030 through 2035.
How do Gong Yu’s iQIYI (IQ) stock options vest based on the Form 3 footnotes?
The footnotes show most options vest over four years. Typically, 25% vests on the first anniversary of the grant date, with the remaining 75% vesting in 12 equal quarterly installments or in equal annual installments over the following three years.
Are there any buy or sell transactions reported for iQIYI (IQ) in this Form 3?
No buy or sell transactions are reported. The entries are characterized as holdings, with no transaction codes indicating purchases, sales, exercises, gifts, or restructurings. The Form 3 simply establishes Gong Yu’s current derivative and indirect equity positions.
What is the significance of the long expiration dates on Gong Yu’s iQIYI (IQ) options?
Many options expire between 2030 and 2035, indicating long-dated rights to acquire Class A ordinary shares. These expirations give Gong Yu extended time to exercise vested options, aligning his incentives with the company’s longer-term performance horizon.