SEC FORM 3

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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

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1. Name and Address of Reporting Person^*

Li Yanhong Robin

(Last)

(First)

(Middle)

NO. 10 SHANGDI 10TH STREET

(Street)

BEIJING

100085

(City)

(State)

(Zip)

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

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

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

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

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

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	3,013,200	D
Class B ordinary shares	439,200,000	I	By Handsome Reward Limited⁽²⁾
Class A ordinary shares⁽¹⁾	3,530,768	D
Class A ordinary shares⁽¹⁾	8,614,416	I	By Handsome Reward Limited⁽²⁾

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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Stock Option (Right to Buy)	⁽³⁾	10/27/2026	Class A ordinary shares	724,800	$21.888⁽³⁾	I	By Handsome Reward Limited⁽²⁾
Stock Option (Right to Buy)	⁽⁴⁾	02/22/2027	Class A ordinary shares	469,120	$23.251⁽⁴⁾	I	By Handsome Reward Limited⁽²⁾
Restricted Shares	⁽⁵⁾	⁽⁵⁾	Class A ordinary shares	684,200	⁽⁵⁾	I	By Handsome Reward Limited⁽²⁾
Restricted Shares	⁽⁶⁾	⁽⁶⁾	Class A ordinary shares	1,532,432	⁽⁶⁾	I	By Handsome Reward Limited⁽²⁾
Restricted Shares	⁽⁷⁾	⁽⁷⁾	Class A ordinary shares	2,108,824	⁽⁷⁾	I	By Handsome Reward Limited⁽²⁾

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. Handsome Reward Limited is a British Virgin Islands company wholly owned by Mr. Robin Yanhong Li.

3. Represents stock options to purchase 724,800 Class A ordinary shares at an exercise price of US$21.888 per Class A ordinary share (equivalent to US$175.1 per ADS). The stock options are fully vested and exercisable as of the date of this form.

4. Represents stock options to purchase 469,120 Class A ordinary shares at an exercise price of US$23.251 per Class A ordinary share (equivalent to US$186.01 per ADS). The stock options are fully vested and exercisable as of the date of this form.

5. The restricted shares vest per annum in two equal installments over a 2-year period, starting from August 9, 2026, subject to the reporting person's continued service through the applicable vesting date. The restricted shares do not have an expiration date.

6. The restricted shares vest per annum in three equal installments over a 3-year period, starting from August 8, 2026, subject to the reporting person's continued service through the applicable vesting date. The restricted shares do not have an expiration date.

7. The restricted shares vest per annum in four equal installments over a 4-year period, starting from August 7, 2026, subject to the reporting person's continued service through the applicable vesting date. The restricted shares do not have an expiration date.

Remarks:

Chairman of Board of Directors, Chief Executive Officer *Ms. Melissa Ma, Mr. Robin Yanhong Li's wife, holds shares in her personal capacity 3,465,992 Class A ordinary shares, including in the form of American depositary shares, and 84,720,000 Class B ordinary shares as of the date of this form. Mr. Robin Yanhong Li disclaims beneficial ownership of all of such shares.

	/s/ Yanhong Robin Li	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.
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