ARDELYX, INC. — Director's Dealing 2018

Jul 31, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2018-07-26

Reporting Person: RAAB MICHAEL (Director, President & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-07-26	Common Stock	A	200000	$0.00	Acquired	299038	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-07-26	Stock Option (Right to Buy)	$4.30	A	185000	Acquired	2028-07-26	Common Stock (185000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	69385	Indirect
Common Stock	1000	Indirect

Footnotes

F1: Restricted stock units ("RSUs"). The Reporting Person is entitled to receive one (1) share of Common Stock for each one (1) RSU upon the vesting thereof.

F2: Share totals are adjusted to reflect the transfer of 1,000 shares to trusts for the benefit of the Reporting Person's children.

F3: The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.

F4: The shares are owned directly by trusts for the benefit of the Reporting Person's children.

F5: The option becomes exercisable as it vests and the shares subject to the option vest with respect to 1/48 of the shares subject thereto on each monthly anniversary of July 26, 2018, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.