Kelliher Mike 4

What Happened
Mike Kelliher, Chief Business Officer of Ardelyx (ARDX), had 9,595 shares sold on February 20, 2026 as part of an automatic sell-to-cover tied to the vesting of restricted stock units (RSUs). The transactions consisted of 8,434 shares at $5.87 ($49,465), 1,159 shares at $5.71 ($6,622), and 2 shares at $5.71 ($11), for a total of about $56,098. These were sales to satisfy tax-withholding obligations on vested RSUs rather than discretionary open-market selling.

Key Details

• Transaction date: 2026-02-20; Form 4 filed: 2026-02-23 (timely filing).
• Prices and amounts: 8,434 @ $5.87 ($49,465); 1,159 @ $5.71 ($6,622); 2 @ $5.71 ($11).
• Total shares sold: 9,595; total proceeds: ~$56,098.
• Shares owned after transaction: not specified in the provided summary—see the Form 4 for post-transaction holdings.
• Footnote: Sale was an automatic "sell-to-cover" per RSU grant terms to cover applicable withholding taxes (tax-withholding; not a voluntary sale).
• Transaction code: S = Sale; Footnote F1 = tax withholding on vesting.

Context
Sell-to-cover sales tied to RSU vesting are routine administrative actions to satisfy withholding and do not necessarily signal insider sentiment about the company. Purchases generally carry more weight for interpreting insider confidence.