ARDELYX, INC. — Director's Dealing 2021

Jan 8, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2021-01-05

Reporting Person: Rosenbaum David P. (Chief Development Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-01-05	Common Stock	A	32612	—	Acquired	165659	Direct
2021-01-05	Common Stock	A	8500	—	Acquired	30162	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-01-05	Stock Option (Right to Buy)	$6.35	A	146755	Acquired	2031-01-05	Common Stock (146755)	Direct
2021-01-05	Stock Option (Right to Buy)	$6.35	A	37500	Acquired	2031-01-05	Common Stock (37500)	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) shares of Common Stock for each one (1) RSU upon the vesting thereof.

F2: The shares are directly held by the Reporting Person's wife.

F3: The shares are directly held by David Paul Rosenbaum and Susan Edelstein Rosenbaum, Trustees of the David Paul Rosenbaum Family Trust.

F4: The option becomes exercisable as it vests and the shares subject to the option vest in 48 successive, equal monthly installments on each monthly anniversary of January 5, 2021, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.