[Form 4] Ardelyx, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ardelyx Director William C. Bertrand Jr. reported multiple equity transactions on June 18, 2025, significantly increasing his beneficial ownership position:

• Acquired 19,390 shares of common stock at $0 through the Non-Employee Director Compensation Program, choosing stock instead of cash compensation
• Received 41,551 Restricted Stock Units (RSUs) under the same program, convertible 1:1 into common shares upon vesting
• Granted stock options to purchase 54,059 shares at $3.61 per share, expiring June 18, 2035. Options vest monthly at 1/12th rate with potential acceleration at next annual stockholder meeting

Following these transactions, Bertrand directly owns 290,707 shares of common stock and 54,059 stock options. These grants reflect standard non-employee director compensation rather than open market transactions.

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^*

Bertrand William C JR

(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		19,390(1)	A	$0	249,156	D
Common Stock	06/18/2025		A		41,551(2)	A	$0	290,707	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(3)		(4)	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. 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.

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

4. 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 William Bertrand Jr.	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 occurred for ARDX stock on June 18, 2025?

On June 18, 2025, Director William C. Bertrand Jr. acquired multiple securities: 19,390 shares of common stock in lieu of cash compensation, 41,551 Restricted Stock Units (RSUs), and 54,059 stock options with an exercise price of $3.61.

How many ARDX shares does William Bertrand Jr. own after the June 2025 transactions?

Following the reported transactions, William Bertrand Jr. directly owns 290,707 shares of ARDX common stock, plus 54,059 stock options and 41,551 RSUs.

What is the exercise price and expiration date of ARDX stock options granted to Bertrand in June 2025?

The stock options were granted with an exercise price of $3.61 per share and expire on June 18, 2035. The options were issued under Ardelyx's Non-Employee Director Compensation Program.

What is the vesting schedule for ARDX director William Bertrand's June 2025 stock options?

The stock options vest 1/12th monthly from the grant date, with full acceleration of unvested shares occurring at the next annual stockholder's meeting, subject to continued service through each vesting date.

How did ARDX director William Bertrand receive his common stock compensation in June 2025?

Bertrand elected to receive 19,390 shares of common stock in lieu of cash compensation under Ardelyx's Non-Employee Director Compensation Program. He also received 41,551 RSUs and 54,059 stock options as part of the program.