[Form 4] Ardelyx, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Director David M. Mott of Ardelyx reported multiple equity transactions on June 18, 2025:

• Acquired 31,163 shares of common stock at $0 through the Non-Employee Director Compensation Program (elected stock instead of cash)
• Received 41,551 Restricted Stock Units (RSUs) under the same program
• Granted stock options to purchase 54,059 shares at $3.61 per share, expiring June 18, 2035

Following these transactions, Mott directly owns 2,969,585 shares, including 87,566 shares held for entities associated with New Enterprise Associates. The stock options vest monthly at 1/12th of shares, with full acceleration at the next annual stockholder meeting. The RSUs convert 1:1 to common stock upon vesting.

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

OMB Number:			3235-0287
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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^*

MOTT DAVID M

(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)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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	06/18/2025		A		31,163(1)	A	$0	2,928,034(2)	D
Common Stock	06/18/2025		A		41,551(3)	A	$0	2,969,585(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)	$3.61	06/18/2025		A		54,059(4)		(5)	06/18/2035	Common Stock	54,059	$0	54,059	D

Explanation of Responses:

1. The shares were issued pursuant to the Issuer's Non-Employee Director Compensation Program. The Reporting Person elected to receive stock in lieu of cash as permitted under the program.

2. The Reporting Person holds 87,566 shares for the benefit of entities associated with New Enterprise Associates and disclaims beneficial ownership of such shares, except to the extent of his actual pecuniary interest therein.

3. 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. The RSUs were issued pursuant to the Issuer's Non-Employee Director Compensation Program.

4. The option was issued pursuant to the Issuer's Non-Employee Director Compensation Program.

5. The option vests with respect to 1/12th of the shares subject thereto on each monthly anniversary of the grant date, which vesting will accelerate in full on the date of the next annual stockholder's meeting to the extent unvested as of such date, subject to continued service through each applicable vesting date.

Remarks:

	/s/ Elizabeth Grammer, Attorney-in-Fact for David Mott	06/23/2025
	** 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 transactions did ARDX director David Mott report on June 18, 2025?

On June 18, 2025, ARDX director David Mott received multiple equity awards: 31,163 shares of common stock in lieu of cash compensation, 41,551 Restricted Stock Units (RSUs), and stock options to purchase 54,059 shares at an exercise price of $3.61 per share.

How many shares of ARDX does David Mott beneficially own after the June 2025 transactions?

Following the reported transactions, David Mott beneficially owns 2,969,585 shares of ARDX common stock directly. However, 87,566 of these shares are held for the benefit of entities associated with New Enterprise Associates, which Mott disclaims beneficial ownership of except for his actual pecuniary interest.

What are the vesting terms for ARDX director David Mott's new stock options?

The stock options granted on June 18, 2025, vest 1/12th monthly from the grant date, with full acceleration of unvested shares at the next annual stockholder's meeting. The options have a ten-year term, expiring on June 18, 2035, and an exercise price of $3.61 per share.

What is the exercise price and expiration date of ARDX stock options granted to David Mott?

The stock options were granted with an exercise price of $3.61 per share and expire on June 18, 2035, ten years from the grant date.

How many RSUs did ARDX director David Mott receive in June 2025?

David Mott received 41,551 Restricted Stock Units (RSUs) on June 18, 2025, as part of Ardelyx's Non-Employee Director Compensation Program. Each RSU entitles him to receive one share of ARDX common stock upon vesting.