David P. Rosenbaum - 16 Aug 2024 Form 4 Insider Report for ARDELYX, INC. (ARDX)

Role
Chief Development Officer
Signature
/s/ Elizabeth Grammer, Attorney-in-Fact for David Rosenbaum
Issuer symbol
ARDX
Transactions as of
16 Aug 2024
Net transactions value
-$221,480
Form type
4
Filing time
20 Aug 2024, 18:59:26 UTC
Previous filing
05 Jun 2024
Next filing
22 Aug 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARDX Common Stock Sale $118,740 -20,000 -5.3% $5.94 356,479 16 Aug 2024 Direct F1, F2
transaction ARDX Common Stock Options Exercise $20,302 +20,507 +13% $0.9900 179,009 20 Aug 2024 By Wife F3
transaction ARDX Common Stock Sale $123,042 -20,507 -11% $6.00 158,502 20 Aug 2024 By Wife F3
holding ARDX Common Stock 77,592 16 Aug 2024 Family Trust F4

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 -20,507 -29% $0.000000 49,806 20 Aug 2024 Common Stock 20,507 $0.9900 By Wife F3, F5
* 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 May 17, 2024.
F2 Transaction was executed in multiple trades in prices ranging from $5.92 to $5.97, 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 The shares are directly held by the Reporting Person's wife.
F4 The shares are directly held by David Paul Rosenbaum and Susan Edelstein Rosenbaum, Trustees of the David Paul Rosenbaum Family Trust.
F5 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.