Michael Raab - Apr 4, 2025 Form 4 Insider Report for ARDELYX, INC. (ARDX)

Role
President & CEO, Director
Signature
/s/ Elizabeth Grammer, Attorney-in-Fact for Michael Raab
Stock symbol
ARDX
Transactions as of
Apr 4, 2025
Transactions value $
-$170,526
Form type
4
Date filed
4/8/2025, 07:24 PM
Previous filing
Mar 7, 2025
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARDX Common Stock Options Exercise $20.6K +20.8K +1.27% $0.99 1.66M Apr 4, 2025 Direct F1, F2
transaction ARDX Common Stock Sale -$191K -41.7K -2.51% $4.59 1.62M Apr 4, 2025 Direct F1, F3
holding ARDX Common Stock 24.4K Apr 4, 2025 Family Trust F4
holding ARDX Common Stock 1K Apr 4, 2025 Family Trust F5

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 -20.8K -4.55% $0.00 437K Apr 4, 2025 Common Stock 20.8K $0.99 Direct F6
* 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 was made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on September 4, 2024.
F2 Reflects the adjusted total which includes the purchase of 1,282 shares under the Ardelyx Employee Stock Purchase Plan in February 2025.
F3 Transaction was executed in multiple trades in prices ranging from $4.45 to $4.68, 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.
F4 The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.
F5 The shares are owned directly by trusts for the benefit of the Reporting Person's children.
F6 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.