Was the Ardelyx (ARDX) CFO’s Form 4 sale discretionary or tax-related?

The sale was tax-related, not discretionary. A footnote states the shares were sold under an automatic sell-to-cover provision upon RSU vesting, solely to cover applicable withholding taxes required on the restricted stock unit awards.

Ardelyx CFO tax-related sale of 1,455 shares

Ardelyx, Inc. Chief Financial Officer Susan Hohenleitner reported a small tax-related share sale.

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Filing Sentiment

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Form Type

Rhea-AI Filing Summary

Ardelyx, Inc. Chief Financial Officer Susan Hohenleitner reported a small tax-related share sale. She disposed of 1,455 shares of common stock on May 21, 2026 at an average price of $6.2675 per share. A footnote explains the transaction was an automatic sell-to-cover triggered by the vesting of restricted stock units, with shares sold solely to cover applicable withholding taxes rather than as a discretionary open-market sale. After this transaction, she directly holds 229,078 Ardelyx common shares.

Insider Trade Summary

Net Seller: 1,455 shares

Net Sell 1 txn

Insider Hohenleitner Susan

Role Chief Financial Officer

Sold 1,455 shs ($9K)

Type	Security	Shares	Price	Value
Sale	Common Stock	1,455	$6.2675	$9K

Holdings After Transaction: Common Stock — 229,078 shares (Direct)

Footnotes (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: 1,455 shares Sale price: $6.2675 per share Post-transaction holdings: 229,078 shares

3 metrics

Shares sold 1,455 shares Open-market sale on May 21, 2026

Sale price $6.2675 per share Average price for 1,455 shares sold

Post-transaction holdings 229,078 shares CFO’s direct Ardelyx common stock after sale

Key Terms

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

3 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

"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.

FAQ

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What did Ardelyx (ARDX) CFO Susan Hohenleitner report in this Form 4?

Ardelyx CFO Susan Hohenleitner reported selling 1,455 shares of common stock. The sale occurred at an average price of $6.2675 per share on May 21, 2026, as part of an automatic sell-to-cover tied to restricted stock unit vesting.

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

The CFO sold 1,455 Ardelyx common shares at an average price of $6.2675. This transaction is described as an open-market sale but was executed automatically to cover withholding taxes from restricted stock unit vesting.

How many Ardelyx (ARDX) shares does the CFO hold after this Form 4 transaction?

After the transaction, the CFO directly holds 229,078 Ardelyx common shares. This figure reflects her position following the 1,455-share sale executed to cover tax withholding obligations associated with the vesting of restricted stock units.

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

An automatic sell-to-cover means shares are automatically sold when RSUs vest to pay taxes. In this case, the CFO’s restricted stock units triggered a sale of 1,455 shares solely to satisfy withholding tax obligations, as required by the grant terms.

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Accepted by SEC EDGAR 05/22/2026 - 04:17 PM

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

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 Financial 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/21/2026		S⁽¹⁾		1,455	D	$6.2675	229,078	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 Susan Hohenleitner	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)

Source: View Original Filing on SEC EDGAR