Kelliher Mike 4

What Happened

• Mike Kelliher, Chief Business Officer of Ardelyx, Inc. (ARDX), received equity awards on January 23, 2026: 103,080 restricted stock units (RSUs) and 154,625 option-based/derivative awards. Both grants show an acquisition price of $0.00 on the Form 4 (i.e., they were awarded, not purchased).
• These are grants (awards), not sales or exercises, so they represent compensation/long-term incentive rather than an immediate market transaction.

Key Details

• Transaction date(s): January 23, 2026. Report filed January 26, 2026.
• Price: $0.00 per share for both grants (standard for compensation awards).
• RSUs: 103,080 RSUs — each RSU converts into one share of common stock upon vesting (Footnote 1).
• Option/derivative award: 154,625 shares subject to an award that vests in 48 equal monthly installments beginning January 23, 2026; the option becomes exercisable as it vests, subject to continued employment (Footnote 2).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Remarks: Reporting person is Chief Business Officer.

Context

• RSU grants and time‑vesting option awards are common executive compensation. These grants do not represent immediate stock purchases or sales; value is realized only if/when awards vest and (for options) are exercised.
• The derivative award vests monthly over four years, meaning any eventual shares will be delivered gradually and are contingent on continued service.