ARDELYX, INC. — Director's Dealing 2016

Sep 27, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2016-09-26

Reporting Person: GRAMMER ELIZABETH A (SVP, General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-22	Common Stock	M	1440	$1.08	Acquired	1440	Direct
2016-09-22	Common Stock	S	1440	$12.00	Disposed	0	Direct
2016-09-23	Common Stock	M	1060	$1.08	Acquired	1060	Direct
2016-09-23	Common Stock	M	2500	$3.42	Acquired	3560	Direct
2016-09-23	Common Stock	S	3560	$12.00	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-22	Stock Option (Right to Buy)	$1.08	M	1440	Disposed	2021-04-15	Common Stock (1440)	Direct
2016-09-23	Stock Option (Right to Buy)	$1.08	M	1060	Disposed	2021-04-15	Common Stock (1060)	Direct
2016-09-23	Stock Option (Right to Buy)	$3.42	M	2500	Disposed	2022-11-12	Common Stock (2500)	Direct

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on August 19, 2016.

F2: The option is fully vested and exercisable.