ARDX insider sells shares under Rule 144

Michael Raab reported multiple dispositions of Common Stock under Rule 144.

Rhea-AI Filing Summary

Michael Raab reported multiple dispositions of Common Stock under Rule 144. The filings list sales on 02/20/2026, 02/24/2026, 03/16/2026, and 04/15/2026 with per‑trade share counts and proceeds shown. The excerpt also shows vesting of 108,840 restricted stock units on 05/19/2026.

Insights

Securities Compliance Expert

Routine Rule 144 sale notices by an affiliated holder; contains specific per‑trade counts and proceeds.

The excerpt lists multiple Common Stock dispositions by Michael Raab, including 02/20/2026 trades of 40,401 shares for $236,951.87 and later trades of 41,666 shares for $260,620.83. These entries follow the form’s reporting format for restricted/resale transactions.

Compliance reviewers should verify the underlying vesting and holding periods for the reported 108,840 restricted stock units vesting on 05/19/2026 and reconcile aggregate reported proceeds with broker records in subsequent filings.

Key Figures

Sale — 02/20/2026: 40,401 shares Sale — 02/24/2026: 41,666 shares Sale — 03/16/2026: 41,666 shares +2 more

5 metrics

Sale — 02/20/2026 40,401 shares proceeds of <money>$236,951.87</money>

Sale — 02/24/2026 41,666 shares proceeds of <money>$260,620.83</money>

Sale — 03/16/2026 41,666 shares proceeds of <money>$243,329.44</money>

Sale — 04/15/2026 41,668 shares proceeds of <money>$261,954.22</money>

RSU Vesting 108,840 shares vesting of restricted stock units on <date>05/19/2026</date>

Key Terms

restricted stock units, Securities To Be Sold, Form 144

3 terms

restricted stock units financial

"Vesting of restricted stock units | Issuer | 108840 | 05/19/2026"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Securities To Be Sold regulatory

"144: Securities To Be Sold | Common Stock | 05/19/2026"

Form 144 regulatory

"CONTENT METADATA: "form_type": "144""

Form 144 is a document that investors must file with the government when they plan to sell a large number of shares of a company's stock. It helps ensure transparency so everyone knows how many shares are being sold and when, which can impact the stock's price.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does the ARDX Form 144 filing say about Michael Raab's transactions?

The filing lists multiple sales of ARDX common stock by Michael Raab. It shows trades on 02/20/2026, 02/24/2026, 03/16/2026, and 04/15/2026 with per‑trade share counts and dollar proceeds reported.

How many restricted stock units vested for ARDX according to the excerpt?

The excerpt records vesting of 108,840 restricted stock units. That vesting event is dated 05/19/2026 and is listed under "Securities To Be Sold" with the issuer indicated as the source of those vested shares.

Does the excerpt show proceeds for individual ARDX trades?

Yes; per‑trade proceeds are reported alongside share counts. Examples include $236,951.87 for 40,401 shares on 02/20/2026 and $260,620.83 for 41,666 shares on 02/24/2026.

Is the filing an offer to sell new ARDX shares or reporting prior sales?

The Form 144 entries report prior dispositions and a vesting event. The listing shows specific past sales by Michael Raab with dates and amounts and separately lists the vesting of restricted stock units on 05/19/2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/19/2026 - 05:29 PM Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001321402
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	ARDELYX, INC.
SEC File Number	001-36485
Address of Issuer	400 Fifth Avenue, Suite 210 Waltham MASSACHUSETTS 02451
Phone	617-675-2739
Name of Person for Whose Account the Securities are To Be Sold	RAAB MICHAEL
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza, 8th Floor New York NY 10004	44500	277235.00	247029387	05/19/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	05/19/2026	Vesting of restricted stock units	Issuer			108840	05/19/2026	Services Rendered

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	02/20/2026	40401	236951.87
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	02/20/2026	5576	31860.15
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	02/20/2026	2	11.40
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	02/20/2026	1	5.70
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	02/20/2026	2	11.40
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	02/24/2026	41666	260620.83
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	03/16/2026	41666	243329.44
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	04/15/2026	41668	261954.22

144: Remarks and Signature

Remarks	The transaction dated February 24, 2026 reflects the weighted average sale price, with sales prices ranging from $6.08 to $6.56, inclusive. The gross proceeds was calculated using a weighted average sales price of $6.255. The transaction dated March 16, 2026 reflects the weighted average sale price, with sales prices ranging from $5.79 to $5.92, inclusive. The gross proceeds was calculated using a weighted average sales price of $5.84. The transaction dated April 15, 2026 reflects the weighted average sale price, with sales prices ranging from $6.21 to $6.46, inclusive. The gross proceeds was calculated using a weighted average sales price of $6.2867. Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant of the restricted stock units (RSUs) awards, the shares are to be sold upon the vesting of the RSUs solely to cover applicable withholding taxes.
Date of Notice	05/19/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	Michael Raab
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)