[Form 4] ARDELYX, INC. Insider Trading Activity

Rhea-AI Filing Summary

Ardelyx, Inc. (ARDX) reported an insider share sale by its Chief Patient Officer, Laura A. Williams. On 11/21/2025, Williams sold 6,426 shares of Ardelyx common stock at a price of $5.5369 per share. The filing explains that this was a sell-to-cover transaction imposed by the terms of the original restricted stock unit ("RSU") awards and that the shares were sold solely to cover applicable withholding taxes when the RSUs vested.

Following this tax-related sale, Williams beneficially owned 359,896 shares of Ardelyx common stock, held in direct ownership. The transaction was reported on a Form 4 filed for a single reporting person.

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

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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^*

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)
11/21/2025

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	11/21/2025		S(1)		6,426	D	$5.5369	359,896	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.

	/s/ Elizabeth Grammer, Attorney-in-Fact for Laura A. Williams	11/25/2025
	** 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 transaction did Ardelyx (ARDX) disclose in this Form 4?

The filing reports that Chief Patient Officer Laura A. Williams sold 6,426 shares of Ardelyx common stock on 11/21/2025 at $5.5369 per share.

Why were Laura A. Williams' Ardelyx (ARDX) shares sold?

The filing states the shares were sold pursuant to an automatic sell-to-cover imposed by the terms of the initial RSU awards, solely to cover applicable withholding taxes upon vesting.

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

After the reported transaction, Laura A. Williams beneficially owned 359,896 shares of Ardelyx common stock in direct ownership.

What is Laura A. Williams' role at Ardelyx (ARDX)?

Laura A. Williams is identified in the filing as an Officer of Ardelyx, serving as the company's Chief Patient Officer.

Is this Ardelyx (ARDX) Form 4 filed for more than one reporting person?

No. The cover section indicates the Form 4 is filed by one reporting person, relating solely to the holdings and transaction of Laura A. Williams.

Does the Ardelyx (ARDX) Form 4 involve any derivative securities?

The Form 4 includes a section for derivative securities but shows no entries in that table, while the non-derivative table reports the common stock sale.