Michael Raab - 15 Jun 2026 Form 4 Insider Report for ARDELYX, INC. (ARDX)

Reporting relationship: President & CEO, Director
Issuer ticker: ARDX
Reported as of: 15 Jun 2026
Net transaction value: -$236,346
SEC form: 4
Accepted by SEC: 17 Jun 2026, 16:01:59 UTC
Prior SEC filing: 22 May 2026
Source filing: View source filing
Reporting owner signature: /s/ Felecia Ettenberg, Attorney-in-Fact for Michael Raab

Key filing fact

Michael Raab filed Form 4 for ARDELYX, INC. (ARDX) on 17 Jun 2026.

Key facts

This page summarizes Michael Raab's Form 4 filing for ARDELYX, INC. (ARDX).
3 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 17 Jun 2026, 16:01.

Change

Previous filing in this sequence was filed on 22 May 2026.
Current net transaction value: -$236,346.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001321402 Primary reporting owner

RAAB MICHAEL

Relationship: President & CEO, Director
Address: C/O ARDELYX, INC., 400 FIFTH AVENUE, SUITE 210, WALTHAM
Signature: /s/ Felecia Ettenberg, Attorney-in-Fact for Michael Raab
Signature date: 17 Jun 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ARDX transaction

Common Stock

Options Exercise

Transaction value
Shares: +20,833
Change %: +1.2%
Price: $0.9900^*
Shares after: 1,740,866
Date: 15 Jun 2026
Ownership: Direct
Footnotes: F1

ARDX transaction

Common Stock

Sale

Transaction value: $236,346
Shares: -41,666
Change %: -2.4%
Price: $5.67
Shares after: 1,699,200
Date: 15 Jun 2026
Ownership: Direct
Footnotes: F1, F2

ARDX holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 24,364
Date: 15 Jun 2026
Ownership: Family Trust
Footnotes: F3

ARDX holding

Common Stock

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,000
Date: 15 Jun 2026
Ownership: Family Trust
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ARDX transaction Derivative

Stock Option (Right to Buy)

Options Exercise

Transaction value
Shares: -20,833
Change %: -6.3%
Price: $0.000000^*
Shares after: 311,668
Date: 15 Jun 2026
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 20,833
Exercise price: $0.9900
Footnotes: F1, F5

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 5 footnotes

Footnote F1

Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 7, 2025.

Footnote F2

Transaction was executed in multiple trades in prices ranging from $5.625 to $5.77, 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.

Footnote F3

The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.

Footnote F4

The shares are owned directly by trusts for the benefit of the Reporting Person's children.

Footnote 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.

SEC remarks

Exhibit 24.1 - Power of Attorney