Rodgers Richard J 4

What Happened

• Richard J. Rodgers, a member of Ardelyx's Board of Directors, was granted two awards on 2026-06-16: 26,455 restricted stock units (RSUs) and a derivative award covering 39,715 shares (granted at $0.00). Both awards were reported on a Form 4 filed 2026-06-18.
• The RSUs convert one-for-one into common stock upon vesting. The derivative award is an option-like award subject to vesting (see Key Details). These are compensation grants (not open-market purchases or sales) and involved no cash outlay by Rodgers.

Key Details

• Transaction date: 2026-06-16; filing date: 2026-06-18 (routine, not marked late).
• Grants: 26,455 RSUs @ $0.00; 39,715-share derivative award @ $0.00.
• Shares owned after transaction: not disclosed in the provided filing excerpt.
• Footnotes: F1 — RSUs convert 1:1 to common stock and were issued under the Issuer’s Non-Employee Director Compensation Program. F2/F3 — the derivative/option award was issued under the same program and vests 1/12th monthly, with full acceleration at the next annual meeting to the extent unvested, subject to continued service.
• Remarks include Exhibit 24.1 (Power of Attorney).

Context

• These awards are routine director compensation and do not represent an open-market purchase or sale; they are commonly granted to non-employee directors. RSUs require vesting before becoming shares; the derivative award vests over time with a built-in acceleration provision tied to the next annual meeting. Such grants are informative about how directors are paid but are not a direct bullish or bearish trade by the insider.