ARDELYX, INC. — Director's Dealing 2020

Apr 18, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2020-04-15

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-04-15	Common Stock	S	500	$7.03	Disposed	109740	Indirect
2020-04-16	Common Stock	S	10500	$7.0135	Disposed	99240	Indirect
2020-04-17	Common Stock	S	9428	$7.0183	Disposed	89812	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	208057	Direct
Common Stock	1000	Indirect

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 21, 2019.

F2: The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.

F3: The transaction was executed in multiple trades in prices ranging from $7.00 to $7.0450, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.

F4: The transaction was executed in multiple trades in prices ranging from $7.00 to $7.20, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The reporting person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.

F5: The shares are owned directly by trusts for the benefit of the Reporting Person's children.