RAAB MICHAEL 4

4 · ARDELYX, INC. · Filed Feb 25, 2026

Form 4

Period: 2026-02-24

DirectorPresident & CEO

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-02-24$0.99/sh+20,833$20,625→ 1,877,819 total
Sale
Common Stock
[F1][F2]
2026-02-24$6.25/sh−41,666$260,621→ 1,836,153 total
Exercise/Conversion
Stock Option (Right to Buy)
[F1][F5]
2026-02-24−20,833→ 395,001 total
Exercise: $0.99Exp: 2032-01-06→ Common Stock (20,833 underlying)

Holdings

Footnotes (5)

[F1]Transaction made pursuant to a 10b5-1 trading plan adopted by the Reporting Person on November 7, 2025.
[F2]Transaction was executed in multiple trades in prices ranging from $6.08 to $6.56, inclusive. The price reported in Column 4 above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
[F3]The shares are directly held by Michael G. Raab, Trustee of the Michael G. Raab Living Trust dated July 25, 2012.
[F4]The shares are owned directly by trusts for the benefit of the Reporting Person's children.
[F5]The option becomes exercisable as it vests and the shares subject to the option vest in 48 successive, equal monthly installments on each monthly anniversary of January 6, 2022, subject to the Reporting Person's continued employment or service relationship with the Issuer on each such vesting date.

Signature

/s/ Elizabeth Grammer, Attorney-in-Fact for Michael Raab|2026-02-25

Documents

1 file