Ardelyx executive sells 7,248 shares in tax-cover trade

Rhea-AI Filing Summary

ARDELYX, INC. Chief Business Officer Mike Kelliher reported selling a total of 7,248 shares of common stock on May 21, 2026 at a price of $6.2675 per share in three separate transactions. A footnote explains these sales were an automatic sell-to-cover triggered by the vesting of restricted stock units, with shares sold solely to cover applicable withholding taxes. This indicates the activity was a tax-related mechanism tied to equity compensation rather than a discretionary reduction of his investment in the company.

Insider Trade Summary

Net Seller: 7,248 shares

Net Sell 3 txns

Insider Kelliher Mike

Role Chief Business Officer

Sold 7,248 shs ($45K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,900	$6.2675	$18K
Sale	Common Stock	1,870	$6.2675	$12K
Sale	Common Stock	2,478	$6.2675	$16K

Holdings After Transaction: Common Stock — 357,418 shares (Direct)

Footnotes (1)

1. F1. Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant of the restricted stock units ("RSUs") awards, the shares were sold upon the vesting of the RSUs solely to cover applicable withholding taxes.

Key Figures

Total shares sold: 7,248 shares Sale price per share: $6.2675 per share First transaction size: 2,478 shares +2 more

5 metrics

Total shares sold 7,248 shares Net shares sold by Mike Kelliher on May 21, 2026

Sale price per share $6.2675 per share Price for all reported common stock sales

First transaction size 2,478 shares Common stock sale on May 21, 2026

Second transaction size 1,870 shares Common stock sale on May 21, 2026

Third transaction size 2,900 shares Common stock sale on May 21, 2026

Key Terms

automatic sell-to-cover, restricted stock units ("RSUs"), withholding taxes, open-market sale, +1 more

5 terms

automatic sell-to-cover financial

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

restricted stock units ("RSUs") financial

"imposed by the terms of the initial grant of the restricted stock units ("RSUs") awards"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

withholding taxes financial

"the shares were sold upon the vesting of the RSUs solely to cover applicable withholding taxes"

Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

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

What insider transaction did Mike Kelliher report for ARDX?

Mike Kelliher, Chief Business Officer of ARDELYX (ARDX), reported selling 7,248 shares of common stock. The sales occurred in three separate transactions on May 21, 2026, and were linked to the vesting of restricted stock units granted as part of his equity compensation.

At what price were the ARDX shares sold in Mike Kelliher’s Form 4?

All reported ARDELYX (ARDX) share sales by Mike Kelliher were executed at $6.2675 per share. The Form 4 lists three separate common stock transactions, each using that same price, providing a clear view of the valuation used in this sell-to-cover event.

Why were Mike Kelliher’s ARDX shares sold according to the Form 4 footnote?

The footnote states the ARDELYX (ARDX) shares were sold under an automatic sell-to-cover feature tied to restricted stock unit vesting. The sales occurred solely to cover applicable withholding taxes, indicating a tax-related, mechanical transaction rather than a discretionary open-market liquidation.

How many ARDX shares did Mike Kelliher sell in total on May 21, 2026?

The Form 4 shows that ARDELYX (ARDX) executive Mike Kelliher sold a total of 7,248 common shares. This total comes from three transactions of 2,478 shares, 1,870 shares, and 2,900 shares, all executed on May 21, 2026, at the same reported price.

Does the Form 4 suggest Mike Kelliher’s ARDX sales were discretionary trades?

The filing indicates they were not typical discretionary trades. Although coded as sales, the footnote clarifies they resulted from an automatic sell-to-cover arrangement on restricted stock unit vesting, with the sole purpose of funding required tax withholding obligations.

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

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Accepted by SEC EDGAR 05/22/2026 - 04:10 PM Learn about SEC filing dates

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Kelliher Mike

(Last) (First) (Middle)

C/O ARDELYX, INC.

400 FIFTH AVENUE, SUITE 210

(Street)

WALTHAM MASSACHUSETTS 02451

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/21/2026		S(1)		2,900	D	$6.2675	361,766	D
Common Stock	05/21/2026		S(1)		1,870	D	$6.2675	359,896	D
Common Stock	05/21/2026		S(1)		2,478	D	$6.2675	357,418	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant of the restricted stock units ("RSUs") awards, the shares were sold upon the vesting of the RSUs solely to cover applicable withholding taxes.

Remarks:

	/s/ Michael Raab, Attorney-in-Fact for Mike Kelliher	05/22/2026
	** 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 4 (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 4: SEC 1474 (03-26)