Ardelyx CEO Michael Raab Sells 54,748 Shares for Tax Withholding

Michael Raab, President & CEO of Ardelyx, Inc., filed a Form 4 disclosing the sale of 54,748 shares of common stock on May 21, 2026. The transactions occurred at a price of $6.2675 per share and were executed to cover tax withholding obligations related to the vesting of restricted stock units (RSUs). Following these automatic sell-to-cover transactions, Raab's direct holdings decreased to 1,720,033 shares. Additionally, the filing reveals indirect holdings of 25,364 shares through family trusts. The sales were not discretionary but rather mandatory transactions triggered by RSU vesting to satisfy tax liabilities. Raab remains the company's President & CEO and continues to hold significant equity in Ardelyx through both direct and trust-based ownership structures.