Ardelyx CCO sells 7,998 shares in tax-related trade

Rhea-AI Filing Summary

ARDELYX, INC. Chief Commercial Officer Eric Duane Foster reported sales of 7,998 shares of common stock on May 21, 2026 at a price of $6.2675 per share.

According to the footnote, these trades were an automatic sell-to-cover tied to vested restricted stock units and were executed solely to cover applicable withholding taxes rather than as discretionary open-market sales.

Insights

Insider trading analyst

Small, automatic tax-related sale with limited signaling value.

Chief Commercial Officer Eric Duane Foster reported selling 7,998 shares of ARDELYX common stock at $6.2675 per share on May 21, 2026. The transactions are coded as open-market sales.

A footnote clarifies the sales were an automatic sell-to-cover triggered by restricted stock unit vesting, executed solely to pay withholding taxes. Such tax-related disposals are typically routine compensation events and carry weaker implications about the insider’s view of the company than discretionary buying or selling.

Insider Trade Summary

Net Seller: 7,998 shares

Net Sell 3 txns

Insider Foster Eric Duane

Role Chief Commercial Officer

Sold 7,998 shs ($50K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,166	$6.2675	$20K
Sale	Common Stock	2,427	$6.2675	$15K
Sale	Common Stock	2,405	$6.2675	$15K

Holdings After Transaction: Common Stock — 417,972 shares (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

Shares sold: 7,998 shares Sale price: $6.2675 per share Single transaction block: 2,405 shares +2 more

5 metrics

Shares sold 7,998 shares Total common stock sold on May 21, 2026

Sale price $6.2675 per share Common stock transaction price on May 21, 2026

Single transaction block 2,405 shares Portion of the total shares sold at $6.2675

Second transaction block 2,427 shares Portion of the total shares sold at $6.2675

Third transaction block 3,166 shares Portion of the total shares sold at $6.2675

Key Terms

automatic sell-to-cover, restricted stock units ("RSUs"), withholding taxes, open-market sale

4 terms

automatic sell-to-cover financial

"Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant"

restricted stock units ("RSUs") financial

"terms of the initial grant of the restricted stock units ("RSUs") awards"

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.

withholding taxes financial

"the shares were sold upon the vesting of the RSUs solely to cover applicable withholding taxes"

Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.

open-market sale financial

"transaction_action: "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ARDELYX (ARDX) report for Eric Duane Foster?

ARDELYX reported that Chief Commercial Officer Eric Duane Foster sold 7,998 shares of common stock. The sales occurred on May 21, 2026 at a price of $6.2675 per share, as disclosed in a Form 4 insider trading report.

Was the ARDELYX (ARDX) insider sale by Eric Duane Foster discretionary?

No. A footnote explains the shares were sold under an automatic sell-to-cover feature tied to restricted stock unit vesting. The transactions were executed solely to cover applicable withholding taxes rather than representing a discretionary decision to sell shares.

How many ARDELYX (ARDX) shares did Eric Duane Foster sell and at what price?

Eric Duane Foster sold a total of 7,998 ARDELYX common shares. The reported sales took place on May 21, 2026 at a transaction price of $6.2675 per share, according to the Form 4 filing data.

What role does Eric Duane Foster hold at ARDELYX (ARDX)?

Eric Duane Foster is the Chief Commercial Officer of ARDELYX, INC. His position is identified in the insider filing, which reports his equity transactions and clarifies that the recent share sales were related to tax withholding on restricted stock unit vesting.

What does an automatic sell-to-cover mean in the ARDELYX (ARDX) Form 4 filing?

An automatic sell-to-cover means shares are automatically sold when restricted stock units vest to pay required withholding taxes. In ARDELYX’s filing, the footnote states Foster’s sales were imposed by RSU grant terms and used solely to satisfy tax obligations.

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

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Accepted by SEC EDGAR 05/22/2026 - 04:12 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^*

Foster Eric Duane

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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	05/21/2026		S(1)		3,166	D	$6.2675	422,804	D
Common Stock	05/21/2026		S(1)		2,427	D	$6.2675	420,377	D
Common Stock	05/21/2026		S(1)		2,405	D	$6.2675	417,972	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/ Michael Raab, Attorney-in-Fact for Eric D. Foster	05/22/2026
	** 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)