ARDELYX, INC. — Director's Dealing 2016

Mar 8, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2016-03-03

Reporting Person: Rosenbaum David P. (SVP, Drug Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-03	Common Stock	S	1128	$10.7357	Disposed	22144	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	77592	Indirect
Common Stock	1536	Indirect

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 14, 2015.

F2: This transaction was executed in multiple trades in prices ranging from $10.66 to $10.88, 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: Includes 1,332 shares acquired under the Issuer's Employee Stock Purchase Plan on February 29, 2016.

F4: The shares are directly held by David Paul Rosenbaum and Susan Edelstein Rosenbaum, Trustees of the David Paul Rosenbaum Family Trust.

F5: Consists of 1,536 shares acquired under the Issuer's Employee Stock Purchase Plan on February 29, 2016.

F6: The shares are directly held by the Reporting Person's wife.