ARDELYX, INC. — Director's Dealing 2016

Sep 22, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2016-09-19

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-19	Common Stock	M	5000	$1.08	Acquired	6859	Direct
2016-09-19	Common Stock	S	6859	$11.2087	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-19	Stock Option (Right to Buy)	$1.08	M	2500	Disposed	2020-10-26	Common Stock (2500)	Direct
2016-09-19	Stock Option (Right to Buy)	$1.08	M	2500	Disposed	2021-04-15	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: Includes an aggregate of 1,859 shares acquired under the Issuer's Employee Stock Purchase Plan on February 29, 2016.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.04 to $11.26, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F4: The option is fully vested and exercisable.