Bertrand William C JR 4

What Happened

• Director Bertrand William C Jr received three awards from Ardelyx (ARDX) on 2026-06-16 totaling 78,515 shares: 12,345 shares issued in lieu of cash, 26,455 restricted stock units (RSUs), and a 39,715-share derivative award (option). Each award is reported at an acquisition price of $0.00 (total reported value $0), reflecting compensation grants rather than open-market purchases.

Key Details

• Transaction date: 2026-06-16; Form 4 filed 2026-06-18 (timely).
• Reported price: $0.00 for each grant; total reported acquisition value $0.
• Award breakdown: 12,345 shares issued in lieu of cash (F1); 26,455 RSUs (convert 1-for-1 to common shares upon vesting) (F2); 39,715-share option/derivative granted under the director program (F3, F4).
• Vesting for the option: 1/12th of the option vests monthly, with full acceleration on the next annual shareholder meeting for any unvested portion, subject to continued service (F4).
• Shares owned following the transaction are not specified in the filing.
• Exhibit noted: Power of Attorney (Exhibit 24.1).

Context

• These are compensation grants under Ardelyx’s Non‑Employee Director Compensation Program (including an election to receive stock instead of cash). Grants and RSUs are common director compensation and do not necessarily signal a buy/sell decision. The derivative award is an option subject to a standard service‑based vesting schedule with an acceleration clause tied to the next annual meeting.