Ardelyx (NASDAQ: ARDX) officer exercises options and sells 50,000 shares

Rhea-AI Filing Summary

Ardelyx, Inc. Chief Patient Officer Laura A. Williams reported an option exercise and share sale in Ardelyx common stock. On January 8, 2026, she exercised stock options to acquire 50,000 shares of common stock at an exercise price of $0.99 per share, then sold 50,000 shares at a weighted average price of $6.978 per share, with individual trades executed between $6.97 and $7.00.

After these transactions, Williams directly owned 361,563 shares of Ardelyx common stock, a figure that reflects an earlier purchase of 1,667 shares under the Ardelyx Employee Stock Purchase Plan in August 2025. She also held 62,000 stock options with a $0.99 exercise price, expiring on January 6, 2032, which vest in equal monthly installments that began in January 2022.

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).

X

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^*

Williams Laura A

(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)
	Chief Patient Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/08/2026

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	01/08/2026		M		50,000	A	$0.99	409,896	D
Common Stock	01/08/2026		S		50,000	D	$6.978(1)	361,563(2)	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
Stock Option (Right to Buy)	$0.99	01/08/2026		M			0	(3)	01/06/2032	Common Stock	50,000	$0	62,000	D

Explanation of Responses:

1. This transaction was executed in multiple trades in prices ranging from $6.97 to $7.00, 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.

2. Reflects the adjusted total which includes the purchase of 1,667 shares under the Ardelyx Employee Stock Purchase Plan in August 2025.

3. The option becomes exercisable as it vests and the shares subject to the option vest in 48 successive, equal monthly installments on each monthly anniversary of January 6, 2022, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.

Remarks:

	/s/ Elizabeth Grammer, Attorney-in-Fact for Laura A. Williams	01/09/2026
	** 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.

FAQ

What insider transactions did Ardelyx (ARDX) report for Laura A. Williams?

On January 8, 2026, Ardelyx Chief Patient Officer Laura A. Williams exercised stock options for 50,000 shares at $0.99 per share and sold 50,000 shares of common stock at a weighted average price of $6.978 per share.

At what prices did Laura A. Williams exercise and sell Ardelyx (ARDX) shares?

Williams exercised options at an exercise price of $0.99 per share and sold 50,000 Ardelyx common shares at a weighted average price of $6.978 per share, with individual trades executed between $6.97 and $7.00.

How many Ardelyx (ARDX) shares does Laura A. Williams own after the reported transactions?

Following the January 8, 2026 transactions, Laura A. Williams directly owned 361,563 shares of Ardelyx common stock. This total includes 1,667 shares acquired under the Ardelyx Employee Stock Purchase Plan in August 2025.

How many Ardelyx (ARDX) stock options does Laura A. Williams hold after this Form 4?

After the reported activity, Williams held 62,000 stock options to buy Ardelyx common stock at an exercise price of $0.99 per share, with an expiration date of January 6, 2032.

What is the vesting schedule of Laura A. Williams’ Ardelyx stock options?

The reported stock option vests as it becomes exercisable, with the underlying shares vesting in 48 successive, equal monthly installments on each monthly anniversary of January 6, 2022, subject to Williams’ continued employment or service with Ardelyx on each vesting date.

Does the Form 4 indicate that the Ardelyx (ARDX) trades were done under a Rule 10b5-1 plan?

The form includes a box to indicate if a transaction was made under a Rule 10b5-1(c) trading plan, but in the excerpt provided this box is not shown as checked.