ARDELYX, INC. — Director's Dealing 2014

Dec 16, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2014-12-12

Reporting Person: New Enterprise Associates 12, Limited Partnership (10% Owner)
Reporting Person: NEA Partners 12, Limited Partnership (10% Owner)
Reporting Person: NEA 12 GP, LLC (10% Owner)
Reporting Person: BARRETT M JAMES (10% Owner)
Reporting Person: BARRIS PETER J (10% Owner)
Reporting Person: BASKETT FOREST (10% Owner)
Reporting Person: DRANT RYAN D (10% Owner)
Reporting Person: KERINS PATRICK J (10% Owner)
Reporting Person: KOLLURI KRISHNA KITTU (10% Owner)
Reporting Person: SANDELL SCOTT D (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-12-12	Common Stock	J	1000000	—	Disposed	5619734	Direct

Footnotes

F1: New Enterprise Associates 12, Limited Partnership ("NEA 12") made a pro rata distribution for no consideration of an aggregate of 1,000,000 shares of Common Stock of the Issuer to its general partner and its limited partners on December 12, 2014.

F2: The securities are directly held by NEA 12 and indirectly held by NEA Partners 12, Limited Partnership ("NEA Partners 12"), the sole general partner of NEA 12, NEA 12 GP, LLC ("NEA 12 GP"), the sole general partner of NEA Partners 12, and the individual managers of NEA 12 GP (NEA Partners 12, NEA 12 GP and the individual managers of NEA 12 GP together, the "Indirect Reporting Persons"). The individual managers of NEA 12 GP are M. James Barrett, Peter J. Barris, Forest Baskett, Ryan D. Drant, Patrick J. Kerins, Krishna "Kittu" Kolluri and Scott D. Sandell. The Indirect Reporting Persons disclaim beneficial ownership within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, or otherwise of such portion of the securities of the issuer held by NEA 12 in which the Indirect Reporting Persons have no pecuniary interest.