Bhanji Muna 4

What Happened

• Muna Bhanji, a director of Ardelyx, received equity awards on 2026-06-16: 26,455 restricted stock units (RSUs) and a derivative option covering 39,715 shares. Both awards were granted under the company’s Non-Employee Director Compensation Program. Each award shows an acquisition price of $0.00 on the Form 4 (typical for awards).

Key Details

• Transaction date(s): 2026-06-16; Form 4 filed 2026-06-18 (covers the 6/16 grants).
• Award amounts and reported price: 26,455 RSUs @ $0.00; 39,715 option-based derivative @ $0.00.
• Shares owned after transaction: not stated in the provided filing details.
• Footnotes of note:
  • RSUs convert to one share per RSU upon vesting (F1).
  • The option was issued under the Non-Employee Director Compensation Program (F2).
  • Option vests 1/12th monthly and will fully accelerate on the next annual stockholder meeting to the extent unvested, subject to continued service (F3).
• Exhibit: 24.1 Power of Attorney included in filing.

Context

• These are compensation grants to a director, not open-market purchases or sales. RSUs deliver shares only when they vest; the option grant is a derivative award that vests over time (with an acceleration feature tied to the next annual meeting). Such awards are routine for non-employee directors and do not require cash outlay at grant.