ARDELYX, INC. — Director's Dealing 2024

May 9, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2024-05-06

Reporting Person: Felsch Robert Ora (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-05-06	Common Stock	M	79101	$0.84	Acquired	263935	Direct
2024-05-06	Common Stock	M	40000	$2.75	Acquired	303935	Direct
2024-05-06	Common Stock	S	152988	$8.8079	Disposed	150947	Direct
2024-05-06	Common Stock	S	55000	$8.8	Disposed	95947	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-05-06	Stock Option (Right to Buy)	$0.84	M	79101	Disposed	2032-02-01	Common Stock (79101)	Direct
2024-05-06	Stock Option (Right to Buy)	$2.75	M	40000	Disposed	2033-01-05	Common Stock (40000)	Direct

Footnotes

F1: This transaction was executed in multiple trades in prices ranging from $8.63 to $9.01, inclusive. The price reported in Column 4 above reflects the weighted average sales 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.

F2: Twenty Five Percent (25%) of the shares subject to the option vest on February 1, 2023 and the remaining shares subject to the option vest in 36 successive, equal monthly installments thereafter, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.

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, 2023, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.