Cadoret-Manier Onaiza 4

What Happened

• Onaiza Cadoret-Manier, a director of Ardelyx (ARDX), received equity awards on 2026-06-16: 26,455 restricted stock units (RSUs) and a derivative award representing 39,715 shares (an option) as grants under the company's Non-Employee Director Compensation Program. Each line reports $0.00 per share in the Form 4 (no cash purchase price reported). If all awards eventually vest and the option is exercised, they could represent up to 66,170 shares in total (26,455 RSUs + 39,715 option shares).

Key Details

• Transaction date: 2026-06-16; Form 4 filed: 2026-06-18 (filed within typical 2-business-day window).
• RSUs: 26,455 shares granted (F1). Each RSU converts to one share of common stock upon vesting.
• Derivative award: 39,715-share option granted (reported as a derivative; F2). Vesting: 1/12th of the option vests monthly, with full acceleration at the next annual stockholder meeting for any remaining unvested portion (F3).
• Price: reported at $0.00 per share for both entries (standard for grants).
• Shares owned after the transaction: not specified in the provided excerpt of the filing.
• Administrative note: Exhibit 24.1 (Power of Attorney) referenced in the filing.

Context

• RSUs are a grant that convert to shares only when they vest; options are a derivative right that must be exercised (and may require payment of an exercise price) to acquire shares. Neither type is an immediate open-market purchase or sale—these are compensation grants to a non-employee director.
• Such director compensation grants are routine for board members and do not by themselves indicate a buy/sell view of the issuer's stock.