Ardelyx insider plans sale of 44,500 shares

Rhea-AI Filing Summary

ARDELYX, INC. (ARDX) is the issuer in a Rule 144 notice filed for planned sales of its common stock by Michael Raab. The notice covers 44,500 shares of common stock to be sold through Morgan Stanley Smith Barney LLC, with an aggregate market value of $179,335.00, based on an issuer share count of 249,187,572 shares. Sales may occur on or before 08/21/2026 on NASDAQ. The filing also identifies 108,840 shares of common stock issuable upon vesting of restricted stock units on 08/19/2026, to be sold solely to cover applicable withholding taxes pursuant to an automatic sell-to-cover feature.

Key Figures

Shares to be sold: 44,500 shares Aggregate market value of shares to be sold: $179,335.00 Shares outstanding: 249,187,572 shares +5 more

8 metrics

Shares to be sold 44,500 shares Common stock covered by the Rule 144 notice through Morgan Stanley Smith Barney LLC

Aggregate market value of shares to be sold $179,335.00 Estimated market value of 44,500 ARDX shares covered by the notice

Shares outstanding 249,187,572 shares ARDX common stock referenced as outstanding for Rule 144 calculations

RSU-related shares for tax sell-to-cover 108,840 shares Shares from RSU vesting on 08/19/2026 to be sold to cover withholding taxes

Past sale on 06/15/2026 41,666 shares for $236,346.22 Common stock sale by Michael Raab during the past three months

Past sale on 07/15/2026 41,668 shares for $210,923.42 Common stock sale by Michael Raab during the past three months

Weighted average sale price 06/15/2026 $5.6724 per share Weighted average sale price with a range of $5.625 to $5.77, inclusive

Weighted average sale price 07/15/2026 $5.062 per share Weighted average sale price with a range of $5.03 to $5.12, inclusive

Key Terms

Rule 144, restricted stock units, weighted average sale price, sell-to-cover

4 terms

Rule 144 regulatory

"See the definition of "person" in paragraph (a) of Rule 144."

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

restricted stock units financial

"Vesting of restricted stock units | Issuer | | | 108840 | 08/19/2026"

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.

weighted average sale price financial

"The transaction dated June 15, 2026 reflects the weighted average sale price"

sell-to-cover financial

"automatic sell-to-cover imposed by the terms of the initial grant"

Sell-to-cover is when part of newly issued or exercised company stock is immediately sold to pay required taxes and fees, so the recipient keeps the remaining shares. For investors this matters because it reduces the number of shares insiders or employees actually hold after a grant, can create small, routine share sales that aren’t signal of cashing out, and slightly increases share supply on the market—like selling a portion of a paycheck to cover the tax bill.

FAQ

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

What size of Ardelyx (ARDX) stock sale is covered by this Rule 144 notice?

The notice covers a proposed sale of 44,500 shares of ARDX common stock, with an aggregate market value of $179,335.00, through Morgan Stanley Smith Barney LLC, with potential sales on or before 08/21/2026 on NASDAQ.

Who is selling Ardelyx (ARDX) shares under this Form 144 filing?

The selling security holder is Michael Raab. The notice identifies sales of Ardelyx common stock for his account under Rule 144, including both previously completed sales in the last three months and shares expected to be sold in connection with RSU vesting.

How many Ardelyx (ARDX) shares relate to RSU vesting in this filing?

The filing states that 108,840 shares of ARDX common stock are tied to the 08/19/2026 vesting of restricted stock units. These shares are to be sold solely to cover applicable withholding taxes pursuant to an automatic sell-to-cover feature in the RSU grant.

What Ardelyx (ARDX) stock sales has Michael Raab made in the past 3 months?

Over the past three months, Michael Raab reported multiple ARDX common stock sales, including 41,666 shares on 06/15/2026 for $236,346.22 and 41,668 shares on 07/15/2026 for $210,923.42, along with several smaller transactions on 05/21/2026.

What were the weighted average sale prices for recent Ardelyx (ARDX) insider sales?

For the 06/15/2026 ARDX sale, the weighted average sale price was $5.6724, with prices ranging from $5.625 to $5.77. For the 07/15/2026 sale, the weighted average sale price was $5.062, with prices ranging from $5.03 to $5.12.

How many Ardelyx (ARDX) shares are outstanding as referenced in this filing?

The notice references 249,187,572 shares of Ardelyx common stock outstanding. This figure serves as the share count context for applying Rule 144 volume limitations and is separate from the specific shares covered by the proposed sales.

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

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Available on EDGAR 08/21/2026 - 08:11 PM Accepted by SEC EDGAR 08/21/2026 - 08:10 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	179335.00	249187572	08/21/2026	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	08/19/2026	Vesting of restricted stock units	Issuer			108840	08/19/2026	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	05/21/2026	14933	93592.58
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	05/21/2026	7861	49268.82
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	05/21/2026	17926	112351.21
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	05/21/2026	14028	87920.49
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	06/15/2026	41666	236346.22
Michael Raab 400 Fifth Avenue, Suite 210 Waltham MA 02451	Common Stock	07/15/2026	41668	210923.42

144: Remarks and Signature

Remarks	The transaction dated June 15, 2026 reflects the weighted average sale price, with sales prices ranging from $5.625 to $5.77, inclusive. The gross proceeds was calculated using a weighted average sales price of $5.6724. The transaction dated July 15, 2026 reflects the weighted average sale price, with sales prices ranging from $5.03 to $5.12, inclusive. The gross proceeds was calculated using a weighted average sales price of $5.062. 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	08/21/2026
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	Orlando Wells
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)