Ardelyx (ARDX) Form 4: RSU Sell-to-Cover Reduces Holdings to 301,498

Rhea-AI Filing Summary

Eric Duane Foster, Chief Commercial Officer of Ardelyx, Inc. (ARDX), reported a routine stock transaction dated 08/21/2025. Pursuant to an automatic sell-to-cover tied to the vesting of restricted stock units, 15,308 shares of Common Stock were sold at an average price of $5.9317 per share to satisfy applicable tax withholding. After the sale, Mr. Foster beneficially owned 301,498 shares. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Foster on 08/25/2025. No derivatives or other transactions are reported.

Insights

Corporate Governance Expert

TL;DR: A standard sell-to-cover on RSU vesting was executed to meet tax withholding obligations; no material change in ownership stake.

The filing documents an administrative disposition—shares sold only to cover taxes upon RSU vesting. Such transactions are customary and do not indicate voluntary cashing out or a change in insider intent. The report provides clear disclosure of quantity sold, price, and post-transaction beneficial ownership, supporting transparency in insider activity.

Securities Analyst

TL;DR: Transaction is routine and small relative to reported holdings; no material market or control impact.

The sale of 15,308 shares at $5.9317 reduces Mr. Foster's reported holdings to 301,498 shares. This is a mechanical sell-to-cover tied to RSU vesting, not an open-market divestiture for liquidity. The filing contains the necessary detail for investor tracking but does not present material information likely to affect valuation by itself.

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^*

Foster Eric Duane

(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 Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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	08/21/2025		S(1)		15,308	D	$5.9317	301,498	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/ Elizabeth Grammer, Attorney-in-fact for Eric D. Foster	08/25/2025
	** 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 did Eric D. Foster report on the Form 4 for ARDX?

The Form 4 reports a sale of 15,308 shares of Ardelyx common stock on 08/21/2025 at an average price of $5.9317, leaving 301,498 shares beneficially owned.

Why were the shares sold according to the filing?

The filing states the shares were sold pursuant to an automatic sell-to-cover tied to the vesting of restricted stock units to cover applicable withholding taxes.

What is Eric Foster’s role at Ardelyx as shown on the Form 4?

The filing identifies Eric Duane Foster as an Officer with the title Chief Commercial Officer and as a reporting person.

Are any derivative transactions reported in this Form 4?

No. The filing shows no derivative securities acquired, disposed of, or beneficially owned in Table II.

When was the Form 4 signed and by whom?

The Form 4 bears the signature of Elizabeth Grammer, Attorney-in-fact for Eric D. Foster dated 08/25/2025.