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Millennium Management LLC, along with affiliated entities, has reported acquiring a significant stake in Ardelyx. According to the Schedule 13G filing dated June 28, 2025, the reporting persons collectively own 12,099,947 shares, representing a 5.1% ownership in the company.
The reporting persons include:
- Millennium Management LLC (Delaware)
- Millennium Group Management LLC (Delaware)
- Israel A. Englander (United States)
All three parties share voting and dispositive power over the reported shares, with no sole voting or dispositive power. The securities were not acquired for the purpose of changing or influencing control of Ardelyx. The shares are held by entities subject to voting control and investment discretion by Millennium Management LLC and/or other investment managers controlled by Millennium Group Management LLC and Mr. Englander.
Ardelyx, Inc. (ARDX) – Form 4 insider transaction filed 06/23/2025
Board member Richard J. Rodgers reported routine, compensation-related equity grants dated 06/18/2025 under Ardelyx’s Non-Employee Director Compensation Program:
- 21,468 common shares issued in lieu of cash fees, increasing his direct holdings to 371,992 shares.
- 41,551 restricted stock units (RSUs); each RSU converts 1-for-1 to common stock as it vests, bringing total directly held shares to 413,543 on a fully delivered basis.
- 54,059 stock options with a $3.61 exercise price, 10-year term (expiring 06/18/2035). Vesting is 1/12 monthly with full acceleration at the next annual meeting if service continues.
No sales were reported and all awards were granted at $0 cost to the director. Transactions reflect standard annual director compensation and represent a small, immaterial dilution to existing shareholders.
On 18 June 2025, Ardelyx, Inc. (ARDX) filed a Form 4 disclosing that director Merdad Parsey received 15,235 shares of the company’s common stock. The shares were issued at a price of $0 under the company’s Non-Employee Director Compensation Program, reflecting the director’s election to take equity instead of cash fees. Following the transaction, Parsey’s direct beneficial ownership stands at 57,291 shares. No sales, dispositions, or derivative security activities were reported, and the filing contains no additional financial metrics.
Director David M. Mott of Ardelyx reported multiple equity transactions on June 18, 2025:
- Acquired 31,163 shares of common stock at $0 through the Non-Employee Director Compensation Program (elected stock instead of cash)
- Received 41,551 Restricted Stock Units (RSUs) under the same program
- Granted stock options to purchase 54,059 shares at $3.61 per share, expiring June 18, 2035
Following these transactions, Mott directly owns 2,969,585 shares, including 87,566 shares held for entities associated with New Enterprise Associates. The stock options vest monthly at 1/12th of shares, with full acceleration at the next annual stockholder meeting. The RSUs convert 1:1 to common stock upon vesting.
Ardelyx Director Onaiza Cadoret-Manier received new equity compensation grants on June 18, 2025, as part of the company's Non-Employee Director Compensation Program. The transactions include:
- 41,551 Restricted Stock Units (RSUs) acquired at $0, bringing total direct ownership to 151,701 shares
- 54,059 Stock Options granted with an exercise price of $3.61, expiring June 18, 2035
The stock options vest monthly at 1/12th of shares, with accelerated vesting at the next annual stockholder meeting for any unvested portions. The RSUs convert to common stock on a 1:1 basis upon vesting. These grants represent standard non-employee director compensation rather than open market transactions, indicating continued board service commitment.
Ardelyx Director Muna Bhanji reported two equity compensation grants on June 18, 2025:
- 41,551 Restricted Stock Units (RSUs) awarded at $0, bringing total direct common stock ownership to 137,353 shares
- 54,059 Stock Options granted with a strike price of $3.61, exercisable until June 18, 2035
The equity awards were issued under Ardelyx's Non-Employee Director Compensation Program. The stock options vest monthly at 1/12th of shares, with accelerated vesting at the next annual stockholder meeting if unvested portions remain. The RSUs convert 1:1 to common stock upon vesting. This Form 4 filing indicates standard board compensation rather than open market transactions, reflecting ongoing director compensation arrangements.
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.
Ardelyx Director David M. Mott has increased his position in the company through a significant stock purchase on June 16, 2025. Mott acquired 200,000 shares of common stock at a weighted average price of $3.6294 per share, with individual trade prices ranging from $3.57 to $3.70.
Following this transaction, Mott's total beneficial ownership stands at 2,896,871 shares held directly. Of this total, 87,566 shares are held for the benefit of entities associated with New Enterprise Associates, for which Mott disclaims beneficial ownership except for his pecuniary interest.
This insider purchase by a director signals potential confidence in the company's prospects. The transaction was reported via Form 4 filing, executed through multiple trades, and was filed within the required reporting period. The filing was completed through an attorney-in-fact on June 19, 2025.
Ardelyx held its 2025 Annual Meeting of Stockholders on June 18, 2025, where shareholders voted on four key proposals. 187,162,927 shares out of 239,255,212 outstanding shares were represented at the meeting.
Key outcomes include:
- Board Elections: Class II directors David Mott and Michael Raab were elected to serve until 2028, with Raab receiving stronger shareholder support (101.2M vs 93M votes)
- Say-on-Pay: Approved with strong support (131.3M votes in favor)
- Auditor Ratification: Ernst & Young LLP confirmed as independent auditor with overwhelming approval (182.5M votes in favor)
- Equity Plan Amendment: The amendment to the Amended and Restated 2014 Equity Incentive Award Plan passed with moderate support (85M votes for vs 57.4M against)
The meeting demonstrated generally positive shareholder sentiment, though the Equity Plan Amendment faced notable opposition with approximately 40% of voting shares against the proposal.