Ardelyx (ARDX) CFO executes 2,033-share tax sell-to-cover from RSU vesting

Rhea-AI Filing Summary

ARDELYX, INC. Chief Financial Officer Susan Hohenleitner reported an automatic tax-related sale of company stock. On February 20, 2026, she sold a total of 2,033 shares of common stock in open-market transactions, at prices of $5.865 and $5.7138 per share. According to a footnote, these sales were an automatic sell-to-cover triggered by vesting restricted stock units and were made solely to cover withholding taxes. After these transactions, she directly owned 230,533 shares of Ardelyx common stock.

Insights

Equity compensation and insider transactions analyst

CFO’s 2,033-share sale is routine tax withholding from RSU vesting.

The transactions show Ardelyx CFO Susan Hohenleitner selling 2,033 common shares on February 20, 2026, at prices of $5.865 and $5.7138. The filing’s footnote explains these were automatic sell-to-cover trades linked to restricted stock unit vesting.

Because the sales were imposed by the RSU terms to satisfy tax withholding, they function more as a payroll-like event than a discretionary portfolio decision. After the sales, she still directly holds 230,533 shares, indicating a substantial remaining equity stake.

For investors, this type of transaction is generally viewed as routine within equity compensation programs. It does not, by itself, signal a change in management’s confidence, since the sales are driven by tax obligations rather than an elective reduction in exposure.

Insider Trade Summary

Net Seller: 2,033 shares ($11,886)

Net Sell 2 txns

Insider Hohenleitner Susan

Role Chief Financial Officer

Sold 2,033 shs ($12K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,786	$5.865	$10K
Sale	Common Stock	247	$5.7138	$1K

Holdings After Transaction: Common Stock — 230,780 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

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)
02/20/2026

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	02/20/2026		S(1)		1,786	D	$5.865	230,780	D
Common Stock	02/20/2026		S(1)		247	D	$5.7138	230,533	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.

	/s/ Elizabeth Grammer, Attorney-in-Fact for Susan Hohenleitner	02/23/2026
	** 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 did Ardelyx (ARDX) CFO Susan Hohenleitner report in this Form 4?

Ardelyx CFO Susan Hohenleitner reported selling 2,033 shares of common stock. The filing states these were automatic sell-to-cover transactions related to restricted stock unit vesting, executed solely to cover required tax withholding obligations.

How many Ardelyx (ARDX) shares did the CFO sell and at what prices?

The CFO sold a total of 2,033 Ardelyx common shares. One sale covered 1,786 shares at $5.865 per share, and a second covered 247 shares at $5.7138 per share, both executed on February 20, 2026.

Why were the Ardelyx (ARDX) CFO’s shares sold in this Form 4 filing?

The shares were sold under an automatic sell-to-cover feature tied to restricted stock unit awards. According to the footnote, the sales occurred upon RSU vesting solely to satisfy applicable tax withholding obligations, rather than as discretionary open-market sales.

How many Ardelyx (ARDX) shares does the CFO hold after these transactions?

Following the sell-to-cover transactions, the CFO directly owns 230,533 Ardelyx common shares. This post-transaction balance reflects her remaining equity stake after selling 2,033 shares to meet tax withholding from vested restricted stock units.

Are the Ardelyx (ARDX) CFO’s reported stock sales considered routine activity?

Yes, the filing describes the sales as an automatic sell-to-cover related to RSU vesting. Such transactions are common in equity compensation plans, where a portion of vested shares is sold to cover tax withholding rather than reflect discretionary selling.