Krish S. Krishnan - Feb 28, 2024 Form 4 Insider Report for Krystal Biotech, Inc. (KRYS)

Signature
/s/ Krish S. Krishnan
Stock symbol
KRYS
Transactions as of
Feb 28, 2024
Transactions value $
-$1,509,468
Form type
4
Date filed
3/1/2024, 08:09 PM
Previous filing
Feb 28, 2024
Next filing
Mar 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KRYS Common Stock Options Exercise $0 +12.5K +0.77% $0.00 1.64M Feb 28, 2024 Direct F1
transaction KRYS Common Stock Tax liability -$943K -5.79K -0.35% $163.08 1.64M Feb 28, 2024 Direct F2, F3
transaction KRYS Common Stock Options Exercise $0 +7.5K +0.48% $0.00 1.58M Feb 28, 2024 By Spouse F4, F5, F6
transaction KRYS Common Stock Tax liability -$566K -3.47K -0.22% $163.08 1.58M Feb 28, 2024 By Spouse F3, F5, F6, F7
holding KRYS Common Stock 90K Feb 28, 2024 By Krishnan Spousal Trust
holding KRYS Common Stock 50K Feb 28, 2024 By Krishnan Family Trust F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction KRYS Performance Stock Units Options Exercise $0 -12.5K -50% $0.00 12.5K Feb 28, 2024 Common Stock 12.5K Direct F9, F10
transaction KRYS Restricted Stock Units Award $0 +35K $0.00 35K Feb 29, 2024 Common Stock 35K Direct F11, F12, F13
transaction KRYS Performance Stock Units Award $0 +52.5K $0.00 52.5K Feb 29, 2024 Common Stock 52.5K Direct F14, F15, F16, F17
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 25,000 performance stock units ("PSUs") were granted on February 28, 2023. Each PSU represented a contingent right to receive one share of the Company's common stock, subject to the achievement of certain 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. All of the performance criteria were achieved and one-half of the PSUs granted, or 12,500 PSUs, vested on February 28, 2024.
F2 Represents number of shares of common stock surrendered to the Company for tax withholding upon the vesting of 12,500 PSUs on February 28, 2024.
F3 The closing price on February 28, 2024 of the Company's common stock on NASDAQ.
F4 15,000 PSUs were granted on February 28, 2023, to the Reporting Person's spouse, Suma M. Krishnan. Each PSU represented a contingent right to receive one share of the Company's common stock, subject to the achievement of certain performance criteria during the year ended December 31, 2023, as approved by the Company's Compensation Committee, and the Reporting Person's spouse continued service to the Company on each applicable vesting date following such achievement. All of the performance criteria were achieved and one-half of the PSUs granted, or 7,500 PSUs, vested on February 28, 2024.
F5 These same shares are also being reported on a Form 4 by the Reporting Person's spouse, Suma M. Krishnan.
F6 Directly beneficially owned by Suma M. Krishnan, the spouse of the Reporting Person.
F7 Represents the number of shares of common stock surrendered by the Reporting Person's spouse, Suma M. Krishnan, to the Company for tax withholding upon the vesting of 7,500 PSUs on February 28, 2024.
F8 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.
F9 Each PSU represented a contingent right to receive one share of the Company's common stock, subject to the achievement of certain 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. All of the performance criteria were achieved and one-half of the PSUs granted, or 12,500 PSUs, vested on February 28, 2024.
F10 The PSUs vest ratably over a two-year period with the first installment vesting on February 28, 2024.
F11 Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Company's common stock, subject to the Reporting Person's continued service to the Company on each applicable vesting date.
F12 The number of RSUs in this column represents the number of shares of common stock the Reporting Person will receive assuming the Reporting Person's continued service to the Company on all applicable vesting dates.
F13 The RSUs vest in four equal annual installments with the first installment vesting on February 28, 2025.
F14 Each PSU represents a contingent right to receive one share of the Company's common stock, subject to the achievement of certain performance criteria during the year ended December 31, 2024, 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.
F15 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 performance criteria set by the Company's Compensation Committee for this PSU award and full vesting of this PSU award.
F16 If any applicable portion of the performance criteria have been achieved, the PSU award shall vest in two equal annual installments (February 28, 2025 and February 28, 2026).
F17 If some or all of the performance criteria are not achieved, the applicable portion of the PSU award will be forfeited.