Ardelyx (ARDX) CFO receives 85,670 RSUs and 128,505 stock options

Rhea-AI Filing Summary

Ardelyx, Inc. chief financial officer Susan Hohenleitner reported equity awards consisting of common stock and stock options. On January 23, 2026, she received 85,670 shares of common stock at a price of $0, described as restricted stock units that convert into one share of common stock per unit upon vesting. Following this grant, she beneficially owned 232,566 shares of Ardelyx common stock directly.

On the same date, she was also granted a stock option for 128,505 shares with an exercise price of $7.77 per share and an expiration date of January 23, 2036. The option becomes exercisable as it vests in 48 equal monthly installments starting on January 23, 2026, conditioned on her continued employment or service with Ardelyx.

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^*

Hohenleitner Susan

(Last) (First) (Middle)

C/O ARDELYX, INC.

400 FIFTH AVE, 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 Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
01/23/2026

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	01/23/2026		A		85,670(1)	A	$0	232,566	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)	$7.77	01/23/2026		A		128,505		(2)	01/23/2036	Common Stock	128,505	$0	128,505	D

Explanation of Responses:

1. Restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) shares of Common Stock for each one (1) RSU upon the vesting thereof.

2. 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 23, 2026, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.

	/s/ Elizabeth Grammer, Attorney-in-Fact for Susan Hohenleitner	01/26/2026
	** 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 Susan Hohenleitner?

Ardelyx reported that Chief Financial Officer Susan Hohenleitner received 85,670 shares of common stock and a stock option for 128,505 shares on January 23, 2026, both reported as acquired at $0 per share.

How many Ardelyx (ARDX) shares does the CFO own after the reported Form 4 transactions?

After the reported common stock grant on January 23, 2026, Chief Financial Officer Susan Hohenleitner beneficially owned 232,566 shares of Ardelyx common stock directly.

What are the terms of the stock option granted to the Ardelyx (ARDX) CFO?

The Ardelyx CFO received a stock option covering 128,505 shares of common stock at an exercise price of $7.77 per share, expiring on January 23, 2036. The option vests in 48 equal monthly installments starting on January 23, 2026, subject to her continued employment or service.

What are the restricted stock units (RSUs) reported for Ardelyx (ARDX) CFO Susan Hohenleitner?

The filing describes the 85,670-share common stock award as restricted stock units (RSUs). Each RSU entitles the reporting person to receive one share of common stock for each unit upon vesting.

Are the Ardelyx (ARDX) CFO’s reported holdings direct or indirect?

The Form 4 shows both the common stock holdings and the stock option held with direct (D) ownership for Chief Financial Officer Susan Hohenleitner.

Who signed the Ardelyx (ARDX) Form 4 reporting these transactions?

The Form 4 was signed by Elizabeth Grammer as Attorney-in-Fact for Susan Hohenleitner on January 26, 2026.