v3.22.1
Share-Based Awards Plan (Tables)
12 Months Ended
Dec. 31, 2021
Total Share-Based Compensation Cost Recognized
The following table summarizes the total share-based compensation cost recognized by the Group:
                                 
    
For the years ended December 31,
 
    
2019
    
2020
    
2021
    
2021
 
    
RMB
    
RMB
    
RMB
    
US$
 
    
(In millions)
 
Expensed as cost of revenues
     327        360        399        62  
Expensed as selling, general and administrative
     1,768        1,897        1,840        289  
Expensed as research and development
     3,531        4,471        4,817        756  
    
 
 
    
 
 
    
 
 
    
 
 
 
       5,626        6,728        7,056        1,107  
    
 
 
    
 
 
    
 
 
    
 
 
 
Baidu  
Option Activity
The following table summarizes the option activity for the year ended December 31, 2021:
 
 
  
Number of share
options
 
 
Weighted average

exercise price
(US$)
 
  
Weighted

average

remaining
contractual life
(Years)
 
  
Aggregate
intrinsic
value (US$ in
millions)
 
Incentive share options
  
     
 
     
  
     
  
     
Outstanding, December 31, 2020
     24,219,040           17                7        245  
    
 
 
   
 
 
    
 
 
    
 
 
 
Granted
     1,299,528       17                    
Exercised
     (3,040,752     15                    
Forfeited/Cancelled
     (1,024,256     14                    
    
 
 
   
 
 
    
 
 
    
 
 
 
Outstanding, December 31, 2021
     21,453,560       17        6        84  
    
 
 
   
 
 
    
 
 
    
 
 
 
Vested and expected to vest
at December 31, 2021
     18,836,432       18        6        69  
    
 
 
   
 
 
    
 
 
    
 
 
 
Exercisable at December 31, 2021
     14,356,680       19        5        44  
    
 
 
   
 
 
    
 
 
    
 
 
 
Assumptions Used to Estimate Fair Values of Share Options Granted
The following table presents the assumptions used to estimate the fair values of the share options granted in the years presented:
                         
    
For the years ended December 31
 
    
2019
    
2020
    
2021
 
Risk-free interest rate
     1.58%~2.49%        1.51~1.52%        0.63~1.23%  
Dividend yield
     —          —          —    
Expected volatility range
     34.62%~35.14%        34.83%~34.92%        38.12%~39.82%  
Expected life (in years)
     5.83~6.03        5.90~6.01        5.80~5.86  
Restricted Shares Activity
Restricted Shares activity for the year ended December 31, 2021 was as follow:
 
 
  
Number of shares
 
  
Weighted average grant date

fair value (US$)
 
Restricted Shares
  
  
Unvested, December 31, 2020
     130,501,520            16  
Granted
     68,985,632        23  
Vested
     (44,506,528      18  
Forfeited/Cancelled
     (16,540,152      17  
    
 
 
    
 
 
 
Unvested, December 31, 2021
     138,440,472        19  
    
 
 
    
 
 
 
iQIYI  
Option Activity
The following table sets forth the summary of employee option activity under the iQIYI’s 2010 Plan:
                                 
    
Number of share options
   
Weighted
average

exercise price

US$
    
Weighted
average
remaining
contractual life
(Years)
    
Aggregate
intrinsic
value (US$ in
millions)
 
Outstanding, December 31, 2020
     420,698,274       0.49                7        846  
Granted
     2,583,000       0.51                    
Forfeited/Expired
     (16,151,880     0.51                    
Exercised
     (65,463,860     0.43                    
    
 
 
   
 
 
    
 
 
    
 
 
 
Outstanding, December 31, 2021
     341,665,534       0.49        7        57  
    
 
 
   
 
 
    
 
 
    
 
 
 
Vested and expected to vest
at December 31, 2021
     335,342,645       0.48        7        56  
    
 
 
   
 
 
    
 
 
    
 
 
 
Exercisable at December 31, 2021
     253,949,473       0.48        6        45  
    
 
 
   
 
 
    
 
 
    
 
 
 
Total Share-Based Compensation Cost Recognized
The following table summarizes the share-based compensation cost recognized by iQIYI:
                                 
    
For the years ended December 31,
 
    
2019
    
2020
    
2021
    
2021
 
    
RMB
    
RMB
    
RMB
    
US$
 
    
(In millions)
 
Expensed as cost of revenues
     171        202        173        27  
Expensed as selling, general and administrative
     676        851        718        113  
Expensed as research and development
     238        317        328        51  
    
 
 
    
 
 
    
 
 
    
 
 
 
       1,085        1,370        1,219        191