X0306 4 2016-08-11 0 0001416792 Relypsa Inc RLYP 0001228922 DONDERO JAMES D 300 CRESCENT COURT, SUITE 700 DALLAS TX 75201 0 0 1 0 Common stock, par value $0.001 per share 2016-08-11 4 S 0 37000 31.96 D 128000 I See Footnote Option to purchase Common stock, par value $0.001 per share 32.00 2016-08-11 4 P 0 5000 0.15 A 2016-08-11 2016-09-16 Common stock, par value $0.001 per share 500000 65799 I See Footnote These shares are held by Highland Select Equity Fund GP, L.P. ("Select GP") indirectly through accounts for which it serves as general partner. Mr. Dondero is the President and the director of Strand Advisors, Inc. ("Strand"), the general partner of Highland Capital Management, L.P. ("HCMLP"), the sole member of Highland Select Equity GP, LLC ("Select LLC"), the general partner of Select GP, and may be deemed to be an indirect beneficial owner of shares held by Select GP. Mr. Dondero disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein. These options are held by Select GP and NexPoint Advisors, L.P. ("NexPoint") indirectly through accounts for which they serve as general partner and investment manager, respectively. Mr. Dondero is the President and the director of Strand Advisors, Inc., the general partner of Highland Capital Management, L.P., the sole member of Highland Select Equity GP, LLC, the general partner of Select GP, and controls NexPoint Advisors GP, LLC, NexPoint's general partner, and may be deemed to be an indirect beneficial owner of options held by Select GP and NexPoint. Mr. Dondero disclaims beneficial ownership of such options except to the extent of his pecuniary interest therein. The 65,799 derivative securities held by Select GP and NexPoint indirectly are presently exercisable call options which expire September 16, 2016, and, if converted at the exercise price of $32, would result in holdings of 6,579,900 shares of the issuer. /s/ James D. Dondero 2016-08-15