Elizabeth Grammer - May 6, 2024 Form 4 Insider Report for ARDELYX, INC. (ARDX)

Role
Chief Legal and Administrative Officer
Signature
/s/ Elizabeth Grammer
Stock symbol
ARDX
Transactions as of
May 6, 2024
Transactions value $
-$2,111,431
Form type
4
Date filed
5/9/2024, 04:03 PM
Previous filing
May 7, 2024
Next filing
May 23, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARDX Common Stock Options Exercise $109K +110K +41.14% $0.99* 378K May 6, 2024 Direct
transaction ARDX Common Stock Options Exercise $302K +110K +29% $2.75* 488K May 6, 2024 Direct
transaction ARDX Common Stock Sale -$570K -64.2K -13.16% $8.87 424K May 6, 2024 Direct F1
transaction ARDX Common Stock Sale -$1.95M -220K -51.91% $8.88 204K May 6, 2024 Direct F1

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 -110K -56.25% $0.00 85.8K May 6, 2024 Common Stock 110K $0.99 Direct F2
transaction ARDX Stock Option (Right to Buy) Options Exercise $0 -110K -31.25% $0.00 241K May 6, 2024 Common Stock 110K $2.75 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This transaction was executed in multiple trades in prices ranging from $8.63 to $9.04, 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.
F2 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.
F3 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 5, 2023, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.

Remarks:

Chief Legal and Administrative Officer