ARDX insider files Form 144 to sell 80,000 shares valued at $484,800

Rhea-AI Filing Summary

Ardelyx, Inc. (ARDX) filed a Form 144 notifying the proposed sale of 80,000 common shares through Morgan Stanley Smith Barney LLC, with an aggregate market value of $484,800.00 and an approximate sale date of 08/26/2025 on NASDAQ. The filing shows the securities were acquired partly by exercise of stock options on 08/26/2025 (50,000 shares, paid in cash) and partly as restricted stock units on 02/19/2024 (30,000 shares). The filer also reported a prior sale of 6,261 shares on 08/21/2025 generating gross proceeds of $37,138.37. The filer certifies no undisclosed material adverse information and includes standard Rule 10b5-1 notice language.

Positive

• Full disclosure of broker, share amount, aggregate value, and approximate sale date in accordance with Rule 144
• Acquisition details provided for the shares: exercise of options and restricted stock units, with payment method noted

Negative

• Proposed insider sale of 80,000 shares valued at $484,800.00, which may increase share supply when executed
• Limited contextual information — the filing does not state remaining holdings or whether a trading plan governs future sales

Insights

Securities Compliance Analyst

TL;DR: Routine Rule 144 notice disclosing an insider sale executed via broker, with acquisition details and prior recent sale.

This Form 144 provides the required public notice for a proposed sale under Rule 144. It lists the broker, the class and amount of shares to be sold, acquisition dates and methods (option exercise and restricted stock units), and a prior sale within three months. The filing includes the standard representation regarding absence of undisclosed material adverse information. From a compliance standpoint the form appears complete for the data presented.

Equity Capital Markets Analyst

TL;DR: Insider plans to sell 80,000 shares valued at $484,800; size and timing are disclosed but not contextualized by trading intent.

The notice quantifies the proposed sale and shows recent insider activity including a small prior sale on 08/21/2025. The mix of acquisitions (option exercise and RSUs) is disclosed, indicating the filer sourced shares from compensation events. The filing does not provide further context such as continued selling plans or holdings post-sale, so market impact cannot be assessed from this document alone.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

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	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	80000	484800.00	240982828	08/26/2025	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	08/26/2025	Exercise of Stock Options	Issuer			50000	08/26/2025	Cash
Common	02/19/2024	Restricted Stock Units	Issuer			30000	02/19/2024	N/A

* 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
LAURA A WILLIAMS 400 Fifth Avenue Suite 210 Waltham MA 02451	Common	08/21/2025	6261	37138.37

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Ardelyx (ARDX) Form 144 disclose?

The Form 144 discloses a proposed sale of 80,000 common shares via Morgan Stanley Smith Barney LLC, aggregate market value $484,800.00, approximate sale date 08/26/2025.

How were the ARDX shares being sold acquired?

The filing shows 50,000 shares acquired by exercise of stock options on 08/26/2025 (paid in cash) and 30,000 shares from restricted stock units on 02/19/2024.

Did the filer sell any ARDX shares recently?

Yes. The filer sold 6,261 shares on 08/21/2025 for gross proceeds of $37,138.37, as reported in the filing.

Which broker is handling the proposed ARDX sale?

The proposed sale is listed with Morgan Stanley Smith Barney LLC, Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004.

Does the filing include a Rule 10b5-1 plan date?

The filing includes the Rule 10b5-1 notice text but does not provide a date of plan adoption or instruction in the provided content.