Ardelyx CEO sells 58,574 shares in tax-cover trade
Rhea-AI Filing Summary
ARDELYX, INC. (ARDX) reported that President & CEO Michael Raab sold a total of 58,574 shares of common stock on 2026-08-21 in four open-market transactions. According to the disclosure, these sales were an automatic sell-to-cover upon vesting of RSU awards, executed solely to cover withholding taxes, at a weighted average price of $3.8569 per share across trades ranging from $3.648 to $3.984. Raab also has indirect ownership through a living trust and trusts for his children, as noted in the filing, though this entry does not state the share counts for those holdings.
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Insights
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Insider Trade Summary
Net Seller: 58,574 shares
Net Sell
6 txns
Insider
RAAB MICHAEL
Role
President & CEO
Sold
58,574 shs ($226K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1 | 15,009 | $3.8569 | $58K |
| Sale | Common Stock F1 | 15,976 | $3.8569 | $62K |
| Sale | Common Stock F1 | 8,411 | $3.8569 | $32K |
| Sale | Common Stock F1 | 19,178 | $3.8569 | $74K |
| holding | Common Stock F2 | -- | -- | -- |
| holding | Common Stock F3 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 1,619,792 shares (Direct);
Common Stock — 25,364 shares (Indirect, Family Trust)
Footnotes (3)
- 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. The transaction was executed in multiple trades in prices ranging from $3.648 to $3.984, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
- F2. The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.
- F3. The shares are owned directly by trusts for the benefit of the Reporting Person's children.
Key Figures
Total shares sold: 58,574 shares
Weighted average sale price: $3.8569 per share
Sale price range: $3.648–$3.984 per share
+2 more
5 metrics
Total shares sold
58,574 shares
Aggregate common stock sales by Michael Raab on 2026-08-21
Weighted average sale price
$3.8569 per share
Weighted average price for reported sales on 2026-08-21
Sale price range
$3.648–$3.984 per share
Range of prices for multiple trades executed on 2026-08-21
Number of sale transactions
4 transactions
Non-derivative open-market sales of common stock
Net shares bought/sold
-58,574 shares
Net of buy and sell activity in this Form 4 (net-sell)
Key Terms
sell-to-cover, restricted stock units ("RSUs"), weighted average sale price, Family Trust
4 terms
sell-to-cover financial
"Pursuant to an 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.
restricted stock units ("RSUs") financial
"initial grant of the restricted stock units ("RSUs") awards, the shares were sold"
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.
weighted average sale price financial
"The price reported in Column 4 above reflects the weighted average sale price"
Family Trust financial
"nature_of_ownership": "Family Trust""
FAQ
What did ARDX CEO Michael Raab report in this Form 4?
Michael Raab reported sales of 58,574 shares of Ardelyx common stock on 2026-08-21, executed as open-market transactions tied to RSU vesting and tax withholding.
Was the ARDX Form 4 sale by Michael Raab discretionary or automatic?
The filing states the shares were sold under an automatic sell-to-cover feature in the RSU grant, and were sold solely to cover applicable withholding taxes upon vesting.
Does Michael Raab have indirect holdings of ARDX stock?
Yes. The filing notes shares held by the Michael G. Raab Living Trust and by trusts for his children, reflecting indirect ownership, though this Form 4 does not list their share amounts.
AI-generated analysis. How Rhea-AI works. Not financial advice.
