Foster Eric Duane 4

What Happened

• Eric Duane Foster, Chief Commercial Officer of Ardelyx (ARDX), sold a total of 10,439 shares on 2026-02-20 for aggregate proceeds of approximately $61,034. The transactions were: 9,176 shares @ $5.87 ($53,817), 1,261 shares @ $5.71 ($7,205), 1 share @ $5.71 ($6), and 1 share @ $5.70 ($6).
• These were sales (code "S") executed automatically upon the vesting of restricted stock units (RSUs) to cover applicable withholding taxes (footnote F1). Such sell-to-cover transactions are routine and tied to tax obligations rather than an open-market investment decision.

Key Details

• Transaction date: 2026-02-20; Filing date: 2026-02-23 (filed within SEC’s 2 business-day requirement — timely).
• Prices: $5.87, $5.71, $5.71, $5.70; Total proceeds ≈ $61,034 for 10,439 shares.
• Footnote: F1 — automatic sell-to-cover tied to initial RSU grant to satisfy tax withholding.
• Shares owned after the transactions: not disclosed in the provided filing excerpt.

Context

• Sell-to-cover transactions occur when vested RSU shares are sold automatically to pay taxes; they do not necessarily indicate the insider’s view on the company’s prospects.
• For retail investors: purchases by insiders are often considered more informative about bullish sentiment; routine tax-withholding sales are common and should be interpreted accordingly.