MICHAEL RAAB - 03 Aug 2021 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: 03 Aug 2021
Net transactions value: -$101,901
Form type: 4
Filing time: 05 Aug 2021, 17:01:00 UTC
Previous filing: 29 Jun 2021
Next filing: 24 Aug 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ARDX	Common Stock	Options Exercise	$144,662	+267,892	+125%	$0.5400^*	482,646	03 Aug 2021	Direct
transaction	ARDX	Common Stock	Tax liability	$246,563	-150,343	-31%	$1.64	332,303	03 Aug 2021	Direct	F1
holding	ARDX	Common Stock						24,364	03 Aug 2021	Family Trust	F2
holding	ARDX	Common Stock						1,000	03 Aug 2021	Family Trust	F3

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	$0	-267,892	-100%	$0.000000^*	0	03 Aug 2021	Common Stock	267,892	$0.5400	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares were withheld so the Reporting Person could satisfy the exercise price and the withholding of taxes arising from a net (cashless) exercise of stock options. The options subject to the net exercise were granted in August 2011 and set to expire on August 11, 2021.
F2	The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.
F3	The shares are owned directly by trusts for the benefit of the Reporting Person's children.
F4	Fully exercisable.