# EDGAR Filing Document

**Accession Number:** 0001711279
**File Stem:** 0001298709-23-000013
**Filing Date:** 2023-2
**Character Count:** 7600
**Document Hash:** c1f51170769c48418358acae197d5380
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001298709-23-000013.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001298709-23-000013

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230226

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Krishnan Krish S
- **CENTRAL INDEX KEY:** 0001298709

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38210
- **FILM NUMBER:** 23688486

**MAIL ADDRESS:**
- **STREET 1:** 2100 WHARTON STREET
- **STREET 2:** SUITE 701
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15203
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Krystal Biotech, Inc.
- **CENTRAL INDEX KEY:** 0001711279
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **IRS NUMBER:** 821080209
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 2100 WHARTON STREET
- **STREET 2:** SUITE 701
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15203
- **BUSINESS PHONE:** (412) 586-5830

**MAIL ADDRESS:**
- **STREET 1:** 2100 WHARTON STREET
- **STREET 2:** SUITE 701
- **CITY:** PITTSBURGH
- **STATE:** PA
- **ZIP:** 15203

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Krishnan Krish S<br><sub>(Last) (First) (Middle)</sub><br>C/O KRYSTAL BIOTECH, INC.<br>2100 WHARTON STREET, SUITE 701<br><sub>(Street)</sub><br>PITTSBURGH, PA 15203<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-26 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Krystal Biotech, Inc. [ KRYS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2023-02-26 |  | F |  | 4350<sup>(1)</sup> | D | 78.46<sup>(2)</sup> | 1734338 | D |  |
| Common Stock |  |  |  |  |  |  |  | 1677263 | I | By Spouse<sup>(3)</sup> |
| Common Stock |  |  |  |  |  |  |  | 90000 | I | By Krishnan Spousal Trust |
| Common Stock |  |  |  |  |  |  |  | 50000 | I | By Krishnan Family Trust<sup>(4)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Option (Right to Buy) | $81.91 | 2023-02-28 |  | A |  | 50000 |  | <sup>(5)</sup> | 2033-02-28 | Common Stock | 50000.0 | $81.91 | 50000 | D |  |
| Performance Stock Units | <sup>(6)</sup> | 2023-02-28 |  | A |  | 25000<sup>(7)</sup> |  | <sup>(8)</sup> | <sup>(9)</sup> | Common Stock | 25000.0<sup>(7)</sup> | $0 | 25000<sup>(7)</sup> | D |  |

---

### Footnotes:

(1) Represents tax withholding upon the vesting of 10,200 shares of restricted stock on February 26, 2023.

(2) The closing price on February 24, 2023 of the Company's common stock on NASDAQ.

(3) Directly beneficially owned by Suma M. Krishnan, the spouse of the reporting person.

(4) Directly beneficially owned by the Krishnan Family Trust. The Reporting Person and his spouse are each joint beneficial owners of the trust with joint voting and investment control.

(5) The option vests in four equal annual installments beginning on February 28, 2024.

(6) Each performance stock unit ("PSU") represents a contingent right to receive one share of the Company's common stock, subject to the achievement of certain corporate performance criteria during the year ended December 31, 2023, as approved by the Company's Compensation Committee, and the Reporting Person's continued service to the Company on each applicable vesting date following such achievement.

(7) The number of PSUs in this column represents the number of shares of common stock the reporting person will receive assuming achievement of all of the corporate performance criteria set by the Company's Compensation Committee for this award.

(8) If any applicable portion of the performance criteria have been achieved, the award shall vest in two equal annual installments (February 28, 2024 and February 28, 2025).

(9) If the performance criteria are not achieved, the portion of the award which was capable of vesting on that date will expire.

**Signature:** /s/ Krish S. Krishnan  
**Date:** 2023-02-28

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**