Reilly Joseph James 4

What Happened Reilly Joseph James, Senior Vice President of Finance at Ardelyx (ARDX), received two equity awards on January 23, 2026: 46,200 restricted stock units (RSUs) and 69,360 derivative option-type awards. Both were granted at $0.00 per share (compensation awards), so no cash was exchanged. The filings list the RSUs as deliverable into common stock upon vesting and the larger award as a derivative that vests over time.

Key Details

• Transaction date: January 23, 2026; reported on Form 4 filed January 27, 2026 (timely).
• Awards: 46,200 RSUs (F1) and 69,360 derivative awards (listed as A/derivative).
• Price: $0.00 per share (compensation grant).
• Vesting/Exercisability: The 69,360 derivative award becomes exercisable as it vests; shares subject to that award vest in 48 equal monthly installments beginning January 23, 2026 (F3). RSUs convert to one share per unit upon vesting (F1).
• Shares owned after the transaction: not specified in the provided extract — see the full Form 4 for total holdings.
• Other note in filing: includes prior purchase of 1,667 shares under the Ardelyx ESPP on Aug 31, 2025 (F2).

Context These awards are compensation grants, not open-market purchases or sales. The derivative/option award vests monthly over four years and becomes exercisable only as portions vest, so the shares are not immediately tradable in full. Such grants are routine for executives and reflect compensation, not a direct buy/sell signal.