ARDELYX, INC. — Director's Dealing 2020

Mar 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2020-03-02

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-02	Common Stock	M	11123	$1.08	Acquired	219180	Direct
2020-03-02	Common Stock	S	11123	$7.00	Disposed	208057	Direct
2020-03-02	Common Stock	S	20428	$7.0141	Disposed	110240	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-02	Stock Option (Right to Buy)	$1.08	M	11123	Disposed	2020-10-26	Common Stock (11123)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000	Indirect

Footnotes

F1: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 23, 2019.

F2: Reflects the adjusted total which includes the purchase of 1,229 shares under the Ardelyx Employee Stock Purchase Plan on February 28, 2020.

F3: Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on December 21, 2019.

F4: The transaction was executed in multiple trades in prices ranging from $7.00 to $7.065, 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 directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.

F6: The shares are owned directly by trusts for the benefit of the Reporting Person's children.

F7: Fully vested.