Kelliher Mike 4

What Happened
Mike Kelliher, Chief Business Officer of Ardelyx, sold a total of 7,248 shares on 2026-05-21 in three open-market transactions at $6.27 per share, generating aggregate proceeds of approximately $45,427. According to the filing, these sales were made automatically to cover withholding taxes upon the vesting of restricted stock units (RSUs).

Key Details

• Transaction date: 2026-05-21; trade price: $6.27 per share.
• Individual disposals: 2,900 shrs ($18,176); 1,870 shrs ($11,720); 2,478 shrs ($15,531).
• Total shares sold: 7,248; total proceeds: ~$45,427.
• Shares owned after transaction: Not specified in the filing.
• Footnote: Sales were automatic "sell‑to‑cover" tied to RSU vesting to satisfy tax withholding (see footnote F1).
• Filing: Reported on 2026-05-22 for transactions on 2026-05-21 — appears to be timely (Form 4 is typically due within two business days).

Context
A sell‑to‑cover tied to RSU vesting is a routine administrative sale to pay taxes and is not the same as a discretionary open‑market sale that might indicate a change in sentiment. For retail investors, purchases or large discretionary sales by insiders are generally more informative than automated tax‑withholding transactions.