[Form 3] ARDELYX, INC. Initial Statement of Beneficial Ownership

ARDELYX, INC. filed an initial ownership report for Chief Legal Officer Felecia Ettenberg.

Rhea-AI Filing Summary

ARDELYX, INC. filed an initial ownership report for Chief Legal Officer Felecia Ettenberg. The filing shows direct ownership of 237,000 shares of Common Stock.

It also reports a stock option to buy 355,000 shares of Common Stock at an exercise price of $6.30 per share, expiring on April 20, 2036. According to the vesting schedule, 25% of the option vests on April 20, 2027, with the remaining shares vesting in 36 equal monthly installments if her employment continues. Footnotes further note restricted stock units that convert into one share of Common Stock for each unit upon vesting.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ettenberg Felecia

Role Chief Legal Officer

Type	Security	Shares	Price	Value
holding	Stock Option (Right to Buy)	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 355,000 contracts (Direct); Common Stock — 237,000 shares (Direct)

Footnotes (2)

1. F1. Restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) share of Common Stock for each one (1) RSU upon the vesting thereof.
2. F2. Twenty Five Percent (25%) of the shares subject to the option vest on April 20, 2027 and the remaining shares subject to the option vest in 36 successive, equal monthly installments thereafter, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.

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Accepted by SEC EDGAR 04/22/2026 - 04:04 PM Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Ettenberg Felecia

(Last) (First) (Middle)

C/O ARDELYX, INC.

400 FIFTH AVE, SUITE 210

(Street)

WALTHAM MASSACHUSETTS 02451

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/20/2026

3. Issuer Name and Ticker or Trading Symbol
ARDELYX, INC. [ ARDX ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	237,000(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	(2)	04/20/2036	Common Stock	355,000	$6.3	D

Explanation of Responses:

1. Restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) share of Common Stock for each one (1) RSU upon the vesting thereof.

2. Twenty Five Percent (25%) of the shares subject to the option vest on April 20, 2027 and the remaining shares subject to the option vest in 36 successive, equal monthly installments thereafter, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.

Remarks:

Exhibit 24.1 - Power of Attorney

	/s/ Shannon Moesaa, Attorney-in-Fact for Felecia Ettenberg	04/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)