Sec Form 4 Filing - ROMANO KATHRYN @ Krystal Biotech, Inc. - 2024-02-28

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) 02/28/2024 (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 02/28/2024 M( 1 ) 523 A $ 63.55 13,459 D Common Stock 02/28/2024 S( 1 ) 523 D $ 163.134 ( 2 ) 12,936 D Common Stock 02/28/2024 M( 1 ) 744 A $ 63.55 13,680 D Common Stock 02/28/2024 S( 1 ) 744 D $ 164.6031 ( 3 ) 12,936 D Common Stock 02/28/2024 M( 1 ) 130 A $ 63.55 13,066 D Common Stock 02/28/2024 S( 1 ) 130 D $ 165.2197 ( 4 ) 12,936 D Common Stock 02/28/2024 M( 1 ) 100 A $ 63.55 13,036 D Common Stock 02/28/2024 S( 1 ) 100 D $ 166.215 12,936 D Common Stock 02/28/2024 M( 1 ) 700 A $ 63.55 13,636 D Common Stock 02/28/2024 S( 1 ) 700 D $ 168.9136 ( 5 ) 12,936 D Common Stock 02/28/2024 M( 1 ) 203 A $ 63.55 13,139 D Common Stock 02/28/2024 S( 1 ) 203 D $ 169.468 ( 6 ) 12,936 D Common Stock 02/28/2024 M( 1 ) 100 A $ 63.55 13,036 D Common Stock 02/28/2024 S( 1 ) 100 D $ 171.45 12,936 D Common Stock 02/28/2024 M( 7 ) 637 A $ 63.55 13,573 D Common Stock 02/28/2024 S( 7 ) 637 D $ 162.7254 ( 8 ) 12,936 D Common Stock 02/28/2024 M( 7 ) 786 A $ 63.55 13,722 D Common Stock 02/28/2024 S( 7 ) 786 D $ 163.4937 ( 9 ) 12,936 D Common Stock 02/28/2024 M( 7 ) 1,600 A $ 63.55 14,536 D Common Stock 02/28/2024 S( 7 ) 1,600 D $ 164.8444 ( 10 ) 12,936 D Common Stock 02/28/2024 M( 7 ) 200 A $ 63.55 13,136 D Common Stock 02/28/2024 S( 7 ) 200 D $ 166.04 ( 11 ) 12,936 D Common Stock 02/28/2024 M( 7 ) 300 A $ 63.55 13,236 D Common S tock 02/28/2024 S( 7 ) 300 D $ 167.85 ( 12 ) 12,936 D Common Stock 02/28/2024 M( 7 ) 1,133 A $ 63.55 14,069 D Common Stock 02/28/2024 S( 7 ) 1,133 D $ 169.095 ( 13 ) 12,936 D Common Stock 02/28/2024 M( 7 ) 210 A $ 63.55 13,146 D Common Stock 02/28/2024 S( 7 ) 210 D $ 169.751 ( 14 ) 12,936 D Common Stock 02/28/2024 M( 7 ) 134 A $ 63.55 13,070 D Common Stock 02/28/2024 S( 7 ) 134 D $ 171.6554 ( 15 ) 12,936 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 (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) $ 63.55 02/28/2024 02/28/2024 M( 1 ) 2,500 ( 16 ) 02/28/2032 Common Stock 2,500 $ 0 35,000 D Stock Option (Right to Buy) $ 63.55 02/28/2024 02/28/2024 M( 7 ) 5,000 ( 16 ) 02/28/2032 Common Stock 5,000 $ 0 30,000 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 03/01/2024 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 2,500 shares with a limit price of $140.00 per share. ( 2 )The transaction was executed in multiple trades ranging from $162.825 to $163.820. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provideupon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 3 )The transaction was executed in multiple trades ranging from $164.030 to $164.960. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 4 )The transaction was executed in multiple trades ranging from $165.050 to $165.270. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 5 )The transaction was executed in multiple trades ranging from $168.275 to $169.190. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 6 )The transaction was executed in multiple trades ranging from $169.345 to $170.000. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 7 )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 $145.00 per share. ( 8 )The transaction was executed in multiple trades ranging from $162.115 to $163.100. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 9 )The transaction was executed in multiple trades ranging from $163.120 to $164.100. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 10 )The transaction was executed in multiple trades ranging from $164.360 to $165.270. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 11 )The transaction was executed in multiple trades ranging from $165.980 to $166.100. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 12 )The transaction was executed in multiple trades ranging from $167.540 to $168.010. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 13 )The transaction was executed in multiple trades ranging from $168.680 to $169.500. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 14 )The transaction was executed in multiple trades ranging from $169.690 to $169.970. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 15 )The transaction was executed in multiple trades ranging from $171.460 to $172.230. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price within the range set forth herein. ( 16 )50,000 options were granted that vest in four equal annual installments with the first installment vesting on February 28, 2023.

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).

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