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

Role
Chief Development Officer
Signature
/s/ Elizabeth Grammer, Attorney-in-Fact for David Rosenbaum
Stock symbol
ARDX
Transactions as of
Aug 16, 2024
Transactions value $
-$221,480
Form type
4
Date filed
8/20/2024, 06:59 PM
Previous filing
Jun 5, 2024
Next filing
Aug 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARDX Common Stock Sale -$119K -20K -5.31% $5.94 356K Aug 16, 2024 Direct F1, F2
transaction ARDX Common Stock Options Exercise $20.3K +20.5K +12.94% $0.99 179K Aug 20, 2024 By Wife F3
transaction ARDX Common Stock Sale -$123K -20.5K -11.46% $6.00 159K Aug 20, 2024 By Wife F3
holding ARDX Common Stock 77.6K Aug 16, 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 -20.5K -29.17% $0.00 49.8K Aug 20, 2024 Common Stock 20.5K $0.99 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.