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: Rosenbaum David P. (Chief Development Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-07-26	Common Stock	A	100000	$0.00	Acquired	168555	Direct
2018-07-26	Common Stock	A	10000	$0.00	Acquired	17045	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-07-26	Stock Option (Right to Buy)	$4.30	A	54730	Acquired	2028-07-26	Common Stock (54730)	Direct
2018-07-26	Stock Option (Right to Buy)	$4.30	A	8220	Acquired	2028-07-26	Common Stock (8220)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	77592	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: Includes 1,644 shares acquired under the Issuer's Employee Stock Purchase Plan (the "ESPP") on February 28, 2018.

F3: Includes 3,000 shares acquired by the Reporting Person's spouse under the ESPP on February 28, 2018.

F4: The shares are directly held by the Reporting Person's wife.

F5: The shares are directly held by David Paul Rosenbaum and Susan Edelstein Rosenbaum, Trustees of the David Paul Rosenbaum Family Trust.

F6: 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.