Robert Ora Felsch - May 6, 2024 Form 4 Insider Report for ARDELYX, INC. (ARDX)

Role
SVP Finance and Chief Accounting Officer
Signature
/s/ Elizabeth Grammer, Attorney-in-Fact for Robert Ora Felsch
Stock symbol
ARDX
Transactions as of
May 6, 2024
Transactions value $
-$1,655,058
Form type
4
Date filed
5/9/2024, 04:03 PM
Previous filing
Feb 22, 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 $66.4K +79.1K +42.8% $0.84* 264K May 6, 2024 Direct
transaction ARDX Common Stock Options Exercise $110K +40K +15.16% $2.75* 304K May 6, 2024 Direct
transaction ARDX Common Stock Sale -$1.35M -153K -50.34% $8.81 151K May 6, 2024 Direct F1
transaction ARDX Common Stock Sale -$484K -55K -36.44% $8.80 95.9K May 6, 2024 Direct

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 -79.1K -56.25% $0.00 61.5K May 6, 2024 Common Stock 79.1K $0.84 Direct F2
transaction ARDX Stock Option (Right to Buy) Options Exercise $0 -40K -33.33% $0.00 80K May 6, 2024 Common Stock 40K $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 $9.01, inclusive. The price reported in Column 4 above reflects the weighted average sales 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 Twenty Five Percent (25%) of the shares subject to the option vest on February 1, 2023 and the remaining shares subject to the option vest in 36 successive, equal monthly installments thereafter, 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:

SVP Finance and Chief Accounting Officer