SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
X	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* 3x5 Special Opportunity Fund, L.P. (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ZS Pharma, Inc. [ ZSPH ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/15/2014
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)(3)	12/15/2014		J(1)		365,354	D	$0	1,621,938	D
Common Stock(2)(3)	12/15/2014		S(2)		79,444	D	$47.094(2)	123,247	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* 3x5 Special Opportunity Fund, L.P. (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RIVERVEST VENTURE FUND II L P (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RiverVest Venture Fund II (Ohio), L.P. (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RiverVest 3x5 Special Opportunity Managers, LLC (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* 3x5 Special Opportunity Partners, LLC (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RiverVest Venture Partners II, LLC (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RiverVest Venture Partners II, L.P. (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* RiverVest Venture Partners II(Ohio), LLC (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Schmelter Jay (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 C/O RIVERVEST VENTURE PARTNERS (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Melzer Thomas C. (Last) (First) (Middle) 101 S. HANLEY ROAD, SUITE 1850 C/O RIVERVEST 3X5 SPECIAL OPPORTUNITY (Street) ST. LOUIS MO 63105 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Reflects a pro rata distribution by 3x5 Special Opportunity Fund, L.P. to its partners. As part of such distribution, an additional 6,489 was distributed by 3x5 Special Opportunity Fund, L.P. to its general partner, 3x5 Special Opportunity Partners, LLC. See footnote 3.

2. Consists of (a) 62,475 shares sold by RiverVest Venture Fund II, L.P. and (b) 16,969 shares sold by RiverVest Venture Fund II (Ohio), L.P. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.00 to $47.75, inclusive. The Reporting Person undertakes to provide to any security holder of ZS Pharma, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote to this Form 4.

3. John P. McKearn, Ph.D. is an authorized person and Thomas Melzer and Jay Schmelter are members of RiverVest 3x5 Special Opportunity Managers, LLC. RiverVest 3x5 Special Opportunity Managers, LLC is a member of 3x5 Special Opportunity Partners, LLC. 3x5 Special Opportunity Partners, LLC is the general partner of 3x5 Special Opportunity Fund, L.P. As an authorized person or member, as the case may be, of RiverVest 3x5 Special Opportunity Managers, LLC, Dr. McKearn, Messrs. Melzer and Schmelter may be deemed to share dispositive voting and investment power with respect to the shares held by such entities. Dr. McKearn, Messrs. Melzer and Schmelter each disclaim beneficial ownership of such shares except to the extent of his pecuniary interest therein.

Remarks:

The following individual is an additional Reporting Person: John P. McKearn with the following contact address: c/o RiverVest Venture Partners 101 S. Hanley Road, Suite 1850, St. Louis, MO 63105.

	/s/Thomas C. Melzer	12/17/2014
	** Signature of Reporting Person	Date
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