ARDELYX, INC. — Director's Dealing 2025

Feb 22, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARDELYX, INC. (ARDX)
CIK: 0001437402
Period of Report: 2025-02-20

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-02-20	Common Stock	S	22964	$5.6229	Disposed	1085755	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	24364	Indirect
Common Stock	1000	Indirect

Footnotes

F1: Pursuant to an automatic sell-to-cover imposed by the terms of the initial grant of the restricted stock units ("RSUs") awards, the shares were sold upon the vesting of the RSUs solely to cover applicable withholding taxes.

F2: Transaction was executed in multiple trades in prices ranging from $5.601611 to $5.625428, 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.

F3: The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.

F4: The shares are owned directly by trusts for the benefit of the Reporting Person's children.