ARDELYX, INC. — Director's Dealing 2015

Feb 7, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2015-02-04

Reporting Person: Jacobs Jeffrey W (VP, Chemistry)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-04	Common Stock	M	6416	$1.08	Acquired	53082	Direct
2015-02-04	Common Stock	M	2472	$1.08	Acquired	55554	Direct
2015-02-04	Common Stock	S	6388	$16.0746	Disposed	49166	Direct
2015-02-04	Common Stock	S	2500	$16.8204	Disposed	46666	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-04	Stock Option (Right to Buy)	$1.08	M	6416	Disposed	2021-02-17	Common Stock (6416)	Direct
2015-02-04	Stock Option (Right to Buy)	$1.08	M	2472	Disposed	2020-10-26	Common Stock (2472)	Direct

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 24, 2014.

F2: This transaction was executed in multiple trades in prices ranging from $15.64 to $16.64, inclusive. The price reported in Column 4 above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.

F3: This transaction was executed in multiple trades in prices ranging from $16.74 to $17.055, inclusive. The price reported in Column 4 above reflects the weighted average sales price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.

F4: The option is fully vested and exercisable.