Sec Form 4 Filing - ROMANO KATHRYN @ Krystal Biotech, Inc. - 2024-02-26

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

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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ROMANO KATHRYN 2. Issuer Name and Ticker or Trading Symbol Krystal Biotech, Inc. [ KRYS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Accounting Officer (Last) (First) (Middle) C/O KRYSTAL BIOTECH, INC., 2100 WHARTON STREET, SUITE 701 3. Date of Earliest Transaction (MM/DD/YY) 02/26/2024 (Street) PITTSBURGH, PA15203 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 02/26/2024 M( 1 ) 5,000 A $ 52.26 17,556 D Common Stock 02/26/2024 S( 1 ) 5,000 D $ 135 ( 2 ) 12,556 D Common Stock 02/26/2024 M( 3 ) 3,087 A $ 52.26 15,643 D Common Stock 02/26/2024 S( 3 ) 3,087 D $ 140 ( 2 ) 12,556 D Common Stock 02/26/2024 F 1,533 ( 4 ) D $ 157 ( 5 ) 11,023 D Common Stock 02/27/2024 M( 6 ) 1,913 A $ 52.26 12,936 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, conv ertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 of Derivative Security: 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 Stock Option (Right to Buy) $ 52.26 02/26/2024 02/26/2024 M( 1 ) 5,000 ( 7 ) 01/30/2030 Common Stock 5,000 $ 0 5,000 D Stock Option (Right to Buy) $ 52.26 02/26/2024 02/26/2024 M( 3 ) 3,087 ( 7 ) 01/30/2030 Common Stock 3,087 $ 0 1,913 D Stock Option (Right to Buy) $ 52.26 02/27/2024 02/27/2024 M( 6 ) 1,913 ( 7 ) 01/30/2030 Common Stock 1,913 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ROMANO KATHRYN C/O KRYSTAL BIOTECH, INC. 2100 WHARTON STREET, SUITE 701 PITTSBURGH, PA15203 Chief Accounting Officer Signatures /s/ Kathryn Romano 02/28/2024 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The option exercise and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. The Rule 10b5-1 trading plan started on August 29, 2023 and will terminate on June 28, 2024 and contemplates option exercises and sales of 5,000 shares with a limit price of $135.00 per share. ( 2 )The transaction was executed in multiple trades at the same sale price. ( 3 )The option exercise and sale reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. The Rule 10b5-1 trading plan started on August 29, 2023 and will terminate on June 28, 2024 and contemplates option exercises and sales of 3,087 shares with a limit price of $140.00 per share. ( 4 )Represents the number of shares of common stock surrendered to the Company for tax withholding upon the vesting of 4,900 shares of restricted stock on February 26, 2024. ( 5 )The closing price on February 26, 2024 of the Company's common stock on NASDAQ. ( 6 )The option exercise reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person. The Rule 10b5-1 trading plan started on August 29, 2023 and will terminate on June 28, 2024 and contemplates option exercises and holding 1,913 shares with a prior closing price from $135.00 per share. ( 7 )50,000 options were granted that vest in four equal annual installments beginning on January 20, 2021.

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).

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