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: GRAMMER ELIZABETH A (See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-12-15	Common Stock	G	405	—	Disposed	72122	Direct
2020-12-15	Common Stock	G	405	—	Disposed	71717	Direct
2020-12-15	Common Stock	G	405	—	Disposed	71312	Direct
2020-12-15	Common Stock	G	405	—	Acquired	2971	Indirect
2021-01-05	Common Stock	A	32612	—	Acquired	103924	Direct

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

Footnotes

F1: This transaction involved a gift of securities by the Reporting Person to her son, who shares Reporting Person's household. The Reporting Person disclaims beneficial ownership of the shares held by her son, and this report should not be deemed an admission that the Reporting Person is the beneficial owner of her son's shares for purposes of Section 16 or for any other purpose.

F2: 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.

F3: 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.