Form 4: ARDELYX Officer Sells Shares for Tax Obligations

ARDELYX Chief Legal and Administrative Officer Elizabeth Grammer sold 5,995 shares of common stock to cover tax withholding upon RSU vesting.

Summary

• Elizabeth A. Grammer, Chief Legal and Administrative Officer of ARDELYX, INC. (ARDX), reported a transaction on November 21, 2025.
• Grammer sold 5,995 shares of ARDX common stock at a price of $5.5369 per share.
• This sale was an automatic 'sell-to-cover' transaction, executed solely to satisfy applicable withholding taxes upon the vesting of restricted stock units (RSUs).
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this transaction, Grammer directly beneficially owns 299,895 shares of ARDX common stock.

Sentiment

Score: 5

Explanation: The transaction is a routine, non-discretionary sale of shares to cover tax obligations upon RSU vesting, which is a common occurrence for executives and does not typically indicate a change in sentiment towards the company's prospects.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This insider transaction is a routine event for executives receiving equity compensation and does not inherently reflect broader industry trends or competitive positioning. It is specific to the individual's compensation structure at ARDELYX.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not indicative of a change in insider confidence.

Key Dates

Keywords

ARDX, Ardelyx, Form 4, Insider Transaction, Stock Sale, RSU Vesting, Tax Withholding, Rule 10b5-1