ARDELYX, INC. — Director's Dealing 2016

Jan 8, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2016-01-05

Reporting Person: Korner Paul (EVP, Chief Medical Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-05	Common Stock	A	60753	$0.00	Acquired	60753	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-05	Stock Option (Right to Buy)	$16.46	A	131405	Acquired	2026-01-05	Common Stock (131405)	Direct

Footnotes

F1: Restricted Stock Units ("RSU"). The reporting person is entitled to receive one (1) share of common stock for each one (1) RSU upon the vesting thereof.

F2: The shares subject to the option vest with respect to 25% of the total number of shares subject thereto on the one year anniversary of January 4, 2016, and the remaining shares subject to the option vest in 36 successive, equal monthly installments on each monthly anniversary thereafter, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.