Ardelyx director granted RSUs and stock options

Ardelyx, Inc. director Muna Bhanji reported compensation-related equity grants.

Rhea-AI Filing Summary

Ardelyx, Inc. director Muna Bhanji reported compensation-related equity grants. She received 26,455 restricted stock units, each convertible into one share of common stock upon vesting, under the company’s Non-Employee Director Compensation Program.

She was also granted options on 39,715 shares at an exercise price of $5.6700 per share, expiring on June 16, 2036. These options vest in 12 equal monthly installments and any remaining unvested portion will fully vest on the date of the next annual stockholders’ meeting, subject to continued service. Following these awards, she directly holds 163,808 shares of common stock.

Insider Trade Summary

Grant/Award: 66,170 shares

Grant/Award 2 txns

Insider Bhanji Muna

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	39,715	$0.00	$0.00
Grant/Award	Common Stock	26,455	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 39,715 contracts (Direct); Common Stock — 163,808 shares (Direct)

Footnotes (3)

1. F1. Restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) share 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.
2. F2. The option was issued pursuant to the Issuer's Non-Employee Director Compensation Program.
3. F3. 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.

Key Figures

RSUs granted: 26,455 units Options granted: 39,715 shares Option exercise price: $5.6700 per share +2 more

5 metrics

RSUs granted 26,455 units Restricted stock units granted to director on June 16, 2026

Options granted 39,715 shares Stock Option (Right to Buy) granted on June 16, 2026

Option exercise price $5.6700 per share Exercise price for 39,715 stock options

Option expiration June 16, 2036 Expiration date of stock options granted

Shares owned after grant 163,808 shares Total Ardelyx common shares directly held after transactions

Key Terms

Restricted stock units ("RSUs"), Non-Employee Director Compensation Program, Stock Option (Right to Buy), vesting, +1 more

5 terms

Restricted stock units ("RSUs") financial

"Restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) share of Common Stock for each one (1) RSU"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

Non-Employee Director Compensation Program financial

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

Stock Option (Right to Buy) financial

"Stock Option (Right to Buy)"

vesting financial

"The option vests with respect to 1/12th of the shares subject thereto on each monthly anniversary of the grant date"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

annual stockholder's meeting financial

"which vesting will accelerate in full on the date of the next annual stockholder's meeting"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/18/2026 - 04:04 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Bhanji Muna

(Last) (First) (Middle)

C/O ARDELYX, INC.

400 FIFTH AVENUE, SUITE 210

(Street)

WALTHAM MASSACHUSETTS 02451

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/16/2026		A		26,455(1)	A	$0	163,808	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)	$5.67	06/16/2026		A		39,715(2)		(3)	06/16/2036	Common Stock	39,715	$0	39,715	D

Explanation of Responses:

1. Restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) share 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.

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

3. 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:

Exhibit 24.1 - Power of Attorney

	/s/ Felecia Ettenberg, Attorney-in-Fact for Muna Bhanji	06/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)