Form 4: Ardelyx CEO Sells Shares
Insider Transaction (Form 4)
Michael Raab, President & CEO and a Director of Ardelyx, Inc., sold 41,668 shares of common stock on July 15, 2026 for $5.06 per share.
Summary
- Option exercise/conversion: acquired 20,834 Common Stock at $0.99 ($20,626) on July 15, 2026; holds 1,720,034 after (Direct).
- Open-market sale: disposed of 41,668 Common Stock at $5.06 ($210,923) on July 15, 2026; holds 1,678,366 after (Direct).
- Option exercise/conversion: disposed of 20,834 Stock Option (Right to Buy) on July 15, 2026; holds 290,834 after (Direct).
Sentiment
Score: 4
Explanation: StockSavvy.ai views this as a mildly negative but low-conviction signal: an insider sold $210,923 of stock under a pre-arranged Rule 10b5-1 plan, which is typically routine.
Insider Transactions
Michael Raab — Director, Officer (President & CEO)
Transaction made under a Rule 10b5-1 trading plan.
| Date | Transaction | Security | Shares | Price | Value | Held After |
|---|---|---|---|---|---|---|
| 2026-07-15 | Option exercise/conversion | Common Stock | 20,834 | $1 | $20.6K | 1,720,034 |
| 2026-07-15 | Open-market sale | Common Stock | 41,668 | $5 | $210.9K | 1,678,366 |
| 2026-07-15 | Option exercise/conversion | Stock Option (Right to Buy) | 20,834 | — | — | 290,834 |
Key Dates
| Date | Description |
|---|---|
| 2026-07-15 | Option exercise/conversion (20,834 shares) |
| 2026-07-15 | Open-market sale (41,668 shares) |
| 2026-07-15 | Option exercise/conversion (20,834 shares) |
Keywords
insider transaction, Form 4, ARDX, ARDELYX, INC., bearish, Michael Raab
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