Tax sell-to-cover: Ardelyx (NASDAQ: ARDX) officer disposes 3,179 shares after RSU vesting

Rhea-AI Filing Summary

ARDELYX, INC. officer John E. Bishop reported automatic sales of company common stock tied to the vesting of restricted stock units. On February 20, 2026, a total of 3,179 shares of common stock were sold in several open-market transactions at prices between $5.70 and $5.87 per share. According to the footnote, these were automatic “sell-to-cover” transactions executed solely to cover withholding taxes due upon RSU vesting, rather than discretionary sales. After these tax-related sales, Bishop directly held 339,151 shares of Ardelyx common stock.

Insights

Equity compensation and insider trading analyst

Ardelyx officer’s Form 4 shows routine tax-related RSU sell-to-cover activity.

The Form 4 reports that John E. Bishop sold a total of 3,179 Ardelyx common shares on February 20, 2026 at prices around $5.70–$5.87. The filing labels these as open-market sales of non-derivative common stock.

A key footnote explains the sales were triggered by an automatic sell-to-cover provision tied to restricted stock unit vesting, executed solely to cover withholding taxes. This indicates the disposition is part of standard equity compensation administration rather than a discretionary portfolio move.

After the transactions, Bishop’s direct holdings stand at 339,151 common shares. Given the routine, tax-driven nature and limited size relative to many insider programs, this development is best viewed as administratively neutral rather than a signal of shifting sentiment.

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

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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^*

Bishop John E

(Last) (First) (Middle)

C/O ARDELYX, INC.

400 FIFTH AVENUE, SUITE 210

(Street)

WALTHAM MA 02451

(City) (State) (Zip)

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)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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

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 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	02/20/2026		S(1)		2,792	D	$5.865	339,538	D
Common Stock	02/20/2026		S(1)		386	D	$5.7138	339,152	D
Common Stock	02/20/2026		S(1)		1	D	$5.7003	339,151	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:

Chief Technical Operations Officer

	/s/ Elizabeth Grammer, Attorney-in-Fact for John Bishop	02/23/2026
	** 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.
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FAQ

What insider transaction did Ardelyx (ARDX) report for John E. Bishop?

Ardelyx reported that officer John E. Bishop disposed of 3,179 common shares on February 20, 2026. The Form 4 shows multiple open-market sales tied to restricted stock unit vesting, executed under an automatic sell-to-cover arrangement to satisfy withholding tax obligations.

At what prices were the Ardelyx (ARDX) shares sold by John E. Bishop?

The reported Ardelyx share sales occurred at prices between about $5.70 and $5.87 per share. Individual transactions were priced at $5.8650, $5.7138, and $5.7003, reflecting market executions on the same trading day as the RSU-related sell-to-cover activity.

How many Ardelyx (ARDX) shares does John E. Bishop hold after this Form 4?

Following the February 20, 2026 transactions, John E. Bishop directly holds 339,151 shares of Ardelyx common stock. This figure is disclosed in the Form 4 as the total shares beneficially owned after the automatic tax-related sell-to-cover sales linked to restricted stock unit vesting.

Were the Ardelyx (ARDX) insider sales by John E. Bishop discretionary?

The filing indicates the sales were not discretionary. A footnote explains the transactions arose from an automatic sell-to-cover mechanism embedded in restricted stock unit awards, with shares sold upon vesting solely to cover applicable withholding taxes, a common administrative feature of equity compensation plans.

What type of security was involved in John E. Bishop’s Ardelyx (ARDX) Form 4?

All reported transactions involve Ardelyx common stock as a non-derivative security. The Form 4 links these common stock sales to the vesting of restricted stock units, where a portion of the vested value is automatically sold in the market to pay required withholding taxes.