Michael Raab - 16 Mar 2026 Form 4 Insider Report for ARDELYX, INC. (ARDX)

Role
President & CEO, Director
Signature
/s/ Elizabeth Grammer, Attorney-in-Fact for Michael Raab
Issuer symbol
ARDX
Transactions as of
16 Mar 2026
Net transactions value
-$243,329
Form type
4
Filing time
18 Mar 2026, 16:42:26 UTC
Previous filing
25 Feb 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
RAAB MICHAEL President & CEO, Director C/O ARDELYX, INC., 400 FIFTH AVENUE, SUITE 210, WALTHAM /s/ Elizabeth Grammer, Attorney-in-Fact for Michael Raab 18 Mar 2026 0001321402

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARDX Common Stock Options Exercise +20,833 +1.1% $0.9900* 1,856,986 16 Mar 2026 Direct F1
transaction ARDX Common Stock Sale $243,329 -41,666 -2.2% $5.84 1,816,448 16 Mar 2026 Direct F1, F2, F3
holding ARDX Common Stock 24,364 16 Mar 2026 Family Trust F4
holding ARDX Common Stock 1,000 16 Mar 2026 Family Trust F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARDX Stock Option (Right to Buy) Options Exercise -20,833 -5.3% $0.000000* 374,168 16 Mar 2026 Common Stock 20,833 $0.9900 Direct F1, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 7, 2025.
F2 Transaction was executed in multiple trades in prices ranging from $5.79 to $5.92, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F3 Includes 1,128 shares acquired under the Issuer's employee stock purchase plan on February 27, 2026.
F4 The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.
F5 The shares are owned directly by trusts for the benefit of the Reporting Person's children.
F6 The option becomes exercisable as it vests and the shares subject to the option vest in 48 successive, equal monthly installments on each monthly anniversary of January 6, 2022, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.