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Ardelyx stockholder plans to sell shares under Rule 144. A notice was filed for the planned sale of 50,000 shares of Ardelyx common stock through Morgan Stanley Smith Barney LLC on or around 01/08/2026, listed with an aggregate market value of $291,500. The shares are to be sold on the NASDAQ, and the filing shows total Ardelyx shares outstanding of 242,974,306.
The 50,000 shares were acquired the same day, 01/08/2026, via a cash exercise of stock options granted by the issuer. The filing also reports that Laura A. Williams sold 6,426 Ardelyx common shares in a prior transaction on 11/21/2025 for gross proceeds of $35,580.12. By signing the notice, the seller represents they are not aware of undisclosed material adverse information about the company.
Ardelyx, Inc. reported preliminary, unaudited product sales for 2025. U.S. net product sales revenue of IBSRELA® (tenapanor) was approximately $87 million in the fourth quarter and approximately $274 million for the full year ended December 31, 2025. U.S. net product sales revenue of XPHOZAH® (tenapanor) was approximately $28 million in the fourth quarter and approximately $104 million for the full year.
The company also indicated it had approximately $265 million in cash, cash equivalents, and short-term investments as of December 31, 2025, on an unaudited basis. All figures are preliminary, may be adjusted during the audit process, and have not been audited or reviewed by Ernst & Young LLP.
Ardelyx, Inc. reported senior leadership changes effective December 31, 2025. Elizabeth Grammer resigned as Chief Legal and Administrative Officer, but will continue as General Counsel until a successor is named and then serve as a Senior Advisor for 24 months under a Transition and Separation Agreement. During an initial 12‑month employment period, she will keep her current base salary, remain eligible for an annual target bonus equal to 45% of base salary for 2025, and continue to receive senior non‑executive benefits, followed by a one‑month salary payment if she delivers a general release.
In the second 12 months, her equity will continue to vest, she may receive advisory payments for the first nine months, and Ardelyx will pay COBRA health premiums for her and dependents during the advisory term or until she gains other coverage. Separately, Chief Medical Officer Edward Conner, M.D. will resign for personal reasons, and Chief Patient Officer and former CMO Dr. Laura Williams will act as interim Chief Medical Officer, overseeing clinical development until a permanent replacement is hired.
Ardelyx, Inc. (ARDX) insider activity: Chief Legal and Administrative Officer Elizabeth Grammer reported a Form 4 transaction dated 11/21/2025. She sold 5,995 shares of Ardelyx common stock at a price of $5.5369 per share. The filing explains that the sale was an automatic sell-to-cover triggered by the vesting of restricted stock units, and the shares were sold solely to cover applicable withholding taxes.
After this transaction, she beneficially owns 299,895 shares of Ardelyx common stock directly.
Ardelyx, Inc. (ARDX) reported an insider stock sale by its president and CEO, who is also a director. On 11/21/2025, the executive sold 46,887 shares of common stock at $5.5369 per share. According to the filing, this sale was made under an automatic sell-to-cover feature tied to restricted stock unit (RSU) awards and was done solely to cover withholding taxes due at vesting.
After this transaction, the executive beneficially owns 1,455,363 shares of Ardelyx common stock directly. In addition, 24,364 shares are held in a living trust and 1,000 shares are held in trusts for the executive’s children, both reported as indirect ownership.
Ardelyx, Inc. (ARDX) reported an insider equity transaction by its Chief Business Officer, Mike Kelliher. On 11/21/2025, he sold 5,560 shares of common stock at a price of $5.5369 per share. The company states these shares were sold automatically upon the vesting of restricted stock units to cover applicable withholding taxes, rather than as a discretionary sale.
Following this transaction, Kelliher directly beneficially owns 271,181 shares of Ardelyx common stock. The filing is a Form 4 submitted for one reporting person and reflects a routine tax-related sale connected to equity compensation.
Ardelyx, Inc. (ARDX) reported an insider share sale by its Chief Patient Officer, Laura A. Williams. On 11/21/2025, Williams sold 6,426 shares of Ardelyx common stock at a price of $5.5369 per share. The filing explains that this was a sell-to-cover transaction imposed by the terms of the original restricted stock unit ("RSU") awards and that the shares were sold solely to cover applicable withholding taxes when the RSUs vested.
Following this tax-related sale, Williams beneficially owned 359,896 shares of Ardelyx common stock, held in direct ownership. The transaction was reported on a Form 4 filed for a single reporting person.
Ardelyx, Inc. (ARDX) reported a Form 4 filing for its Chief Commercial Officer, who is an officer but not a 10% owner. On 11/21/2025, the officer sold 5,814 shares of Ardelyx common stock at a price of $5.5369 per share. According to the explanation, the sale was an automatic sell-to-cover triggered by the vesting of restricted stock units, with shares sold solely to cover withholding taxes. Following this transaction, the officer directly beneficially owns 295,684 shares of Ardelyx common stock.
Ardelyx, Inc. (ARDX) reported an insider equity transaction by Senior Vice President of Finance Joseph J. Reilly. On 11/21/2025, he sold 11,086 shares of common stock at an average price of $5.5369 per share. Following this transaction, he beneficially owned 108,914 shares directly.
The sale was executed pursuant to an automatic sell-to-cover feature tied to previously granted restricted stock units. When the RSUs vested, a portion of the resulting shares was automatically sold to cover applicable withholding taxes, rather than as a discretionary sale of shares.
Ardelyx (ARDX) — Initial ownership filing. CFO Susan Hohenleitner reported 146,896 RSUs, each deliverable as one share of common stock upon vesting. She also holds a stock option for 578,104 shares at an exercise price of $5.01, expiring 10/13/2035. Twenty five percent of the option vests on 10/13/2026, with the remainder vesting in 36 equal monthly installments, subject to continued service.