ARDELYX, INC. — Director's Dealing 2017

Mar 4, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2017-03-01

Reporting Person: Jacobs Jeffrey W (SVP, Technical Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-01	Common Stock	M	3000	$0.54	Acquired	71450	Direct
2017-03-01	Common Stock	S	3000	$13.70	Disposed	68450	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-01	Stock Option (Right to Buy)	$0.54	M	3000	Acquired	2021-08-11	Common Stock (3000)	Direct

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 21, 2016

F2: Includes 17,985 restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) shares of Common Stock for each one (1) RSU upon the vesting thereof.

F3: Includes 940 shares acquired under the Issuer's Employee Stock Purchase Plan on February 28, 2017.

F4: The option is fully vested and exercisable.