Ardelyx (ARDX) Proxy filing summary

Executive summary

• Achieved significant financial and operational progress in 2025, including 73% revenue growth for IBSRELA and year-over-year growth for XPHOZAH.

• Advanced pipeline with a new NHE3 inhibitor program and preparations to expand IBSRELA's eligible patient population.

• Maintained disciplined cash management, ending 2025 in a stronger financial position and focusing on profitability and capital allocation.

• Made several new leadership appointments in 2025 and early 2026 to support future growth.

Voting matters and shareholder proposals

• Board requests stockholder approval to increase the share pool for the equity plan, critical for attracting and retaining talent.

• Proposal aims to align employee and stockholder interests by ensuring all employees hold equity.

• Approval supports continued growth and pipeline development through 2027.

Board of directors and corporate governance

• Board and management emphasize the importance of leadership depth and recent appointments to drive value.

• Directors, officers, and employees may participate in proxy solicitation for the 2026 Annual Meeting.