ARDELYX, INC. — Director's Dealing 2016

Feb 19, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2016-02-16

Reporting Person: Kaufmann Mark (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-16	Common Stock	M	5000	$0.54	Acquired	6282	Direct
2016-02-16	Common Stock	S	5000	$10.2543	Disposed	1282	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-16	Stock Option (Right to Buy)	$0.54	M	5000	Disposed	2021-08-11	Common Stock (5000)	Direct

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 17, 2015.

F2: This transaction was executed in multiple trades in prices ranging from $10.14 to $10.37, 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: The option is fully vested and exercisable.