ARDELYX, INC. — Director's Dealing 2016

Jan 21, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2016-01-15

Reporting Person: Arasaratnam Narani (VP, Corporate Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-08-31	Common Stock	A	1232	$13.991	Acquired	1232	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-15	Common Stock	$10.55	A	20540	Acquired	2026-01-15	Common Stock (20540)	Direct

Footnotes

F1: The shares were acquired under the Issuer's Employee Stock Purchase Plan on August 31, 2015.

F2: The option becomes exercisable as it vests and the shares subject to the option vest in 48 successive, equal monthly installments on each monthly anniversary of January 15, 2016, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.