JANNEY DANIEL 4
4 · Krystal Biotech, Inc. · Filed Feb 26, 2026
Research Summary
AI-generated summary of this filing
Krystal Biotech (KRYS) Director Janney Daniel Sells Shares After Option Exercise
What Happened
Janney Daniel, a director of Krystal Biotech, exercised 37,895 stock options and immediately sold the resulting shares under an established selling program. The options were exercised at $2.46 per share (total exercise cost reported $93,222). The multiple open-market sales executed Feb. 24–26, 2026 produced roughly $16.15 million in gross proceeds at weighted-average prices in the $262–$276 range.
These transactions were sales (routine liquidity) rather than purchases, and they were executed pursuant to a Rule 10b5-1 trading plan (see footnotes), which typically means the trades were pre-planned.
Key Details
- Transaction dates: primarily Feb 24, 2026 (also Feb 25–26, 2026).
- Option exercise: 37,895 shares acquired at $2.46 each (cost ~$93,222).
- Sales: multiple open-market sales totaling ~37,895 shares with gross proceeds ≈ $16.15M (prices reported as weighted averages across multiple trades, roughly $262.95–$276.32).
- Shares owned after transaction: not specified in the excerpt; consult the filed Form 4 for post-transaction beneficial ownership totals.
- Notable footnotes: sales and the option exercise were effected under a Rule 10b5-1 plan adopted Nov 25, 2025 (terminating Nov 5, 2026) (F1, F11). Several sales were executed in multiple trades and reported as weighted-average prices (F2–F23). Option vesting began Nov 10, 2016 (F24). One footnote (F13) clarifies holdings tied to Alta Bioequities entities and the reporting person’s role there.
- Filing timeliness: Form 4 was filed Feb 26, 2026 for transactions beginning Feb 24, 2026; this appears to be filed within the normal two-business-day window.
Context
- This was an option exercise followed by sales (effectively a cashless or immediate-sale of exercised shares). Exercising and selling under a 10b5-1 plan is commonly used to meet pre-set liquidity goals and is considered routine; it does not, by itself, indicate the insider’s view of the company’s future prospects.
- For full transaction-level pricing (each trade within the reported ranges), the filing notes the reporting person will provide detailed trade-by-trade breakdowns to the SEC, issuer, or shareholders upon request.
Insider Transaction Report
Form 4
JANNEY DANIEL
Director
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-02-24$2.46/sh+37,895$93,222→ 37,895 total - Sale
Common Stock
[F2]2026-02-24$262.91/sh−569$149,594→ 37,326 total - Sale
Common Stock
[F3]2026-02-24$264.12/sh−1,733$457,728→ 35,593 total - Sale
Common Stock
[F4]2026-02-24$265.08/sh−3,557$942,878→ 32,036 total - Sale
Common Stock
[F5]2026-02-24$266.18/sh−8,986$2,391,885→ 23,050 total - Sale
Common Stock
[F6]2026-02-24$266.97/sh−11,673$3,116,310→ 11,377 total - Sale
Common Stock
[F7]2026-02-24$268.04/sh−6,671$1,788,079→ 4,706 total - Sale
Common Stock
[F8]2026-02-24$268.97/sh−3,963$1,065,924→ 743 total - Sale
Common Stock
[F9]2026-02-24$269.83/sh−370$99,836→ 373 total - Sale
Common Stock
[F10]2026-02-24$271.09/sh−373$101,118→ 0 total - Sale
Common Stock
[F11][F12][F13]2026-02-24$263.05/sh−62$16,309→ 107,300 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F14][F13]2026-02-24$264.60/sh−900$238,136→ 106,400 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F15][F13]2026-02-24$265.54/sh−1,604$425,919→ 104,796 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F16][F13]2026-02-24$266.62/sh−4,339$1,156,879→ 100,457 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F17][F13]2026-02-24$267.37/sh−1,891$505,597→ 98,566 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F18][F13]2026-02-24$268.67/sh−1,674$449,747→ 96,892 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F19][F13]2026-02-24$269.50/sh−930$250,636→ 95,962 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F20][F13]2026-02-24$274.90/sh−2,425$666,627→ 93,537 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F21][F13]2026-02-25$275.00/sh−700$192,500→ 92,837 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F22][F13]2026-02-26$275.28/sh−5,103$1,404,760→ 87,734 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Sale
Common Stock
[F11][F23][F13]2026-02-26$276.32/sh−2,638$728,919→ 85,096 total(indirect: Directly beneficially owned by Alta Bioequities, L.P.) - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F24]2026-02-24−37,895→ 0 totalExercise: $2.46Exp: 2026-11-09→ Common Stock (37,895 underlying)
Footnotes (24)
- [F1]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 was entered into on November 25, 2025, and will terminate on November 5, 2026, subject to early termination in accordance with the terms of the Rule 10b5-1 trading plan, including upon completion of the sale of all of the shares of the Company's common stock subject to the Rule 10b5-1 trading plan.
- [F10]The transaction was executed in multiple trades ranging from $270.650 to $271.610. 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.
- [F11]The sale of common stock 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 was entered into on November 25, 2025, and will terminate on November 5, 2026, subject to early termination in accordance with the terms of the Rule 10b5-1 trading plan, including upon completion of the sale of all of the shares of the Company's common stock subject to the Rule 10b5-1 trading plan.
- [F12]The transaction was executed in multiple trades ranging from $262.9496 to $263.1269. 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.
- [F13]Alta Bioequities Management, LLC is the general partner of Alta Bioequities, L.P. and may be deemed to have sole voting and investment power over the shares beneficially owned by Alta Bioequities, L.P. The Reporting Person is the Managing Director of Alta Bioequities Management, LLC. The Reporting Person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- [F14]The transaction was executed in multiple trades ranging from $264.01 to $264.99. 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.
- [F15]The transaction was executed in multiple trades ranging from $265.04 to $266. 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.
- [F16]The transaction was executed in multiple trades ranging from $266.06 to $267.0511. 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.
- [F17]The transaction was executed in multiple trades ranging from $267.0631 to $268.0275. 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.
- [F18]The transaction was executed in multiple trades ranging from $268.0725 to $269.0705. 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.
- [F19]The transaction was executed in multiple trades ranging from $269.1641 to $269.78. 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.
- [F2]The transaction was executed in multiple trades ranging from $262.480 to $263.400. 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.
- [F20]The transaction was executed in multiple trades ranging from $274.59 to $275. 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.
- [F21]The transaction was executed in a single trade.
- [F22]The transaction was executed in multiple trades ranging from $275 to $275.9782. 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.
- [F23]The transaction was executed in multiple trades ranging from $276 to $276.99. 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.
- [F24]The options vested ratably over a four-year period beginning on November 10, 2016.
- [F3]The transaction was executed in multiple trades ranging from $263.510 to $264.450. 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.
- [F4]The transaction was executed in multiple trades ranging from $264.520 to $265.495. 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.
- [F5]The transaction was executed in multiple trades ranging from $265.520 to $266.510. 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.
- [F6]The transaction was executed in multiple trades ranging from $266.520 to $267.510. 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.
- [F7]The transaction was executed in multiple trades ranging from $267.520 to $268.510. 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.
- [F8]The transaction was executed in multiple trades ranging from $268.540 to $269.530. 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.
- [F9]The transaction was executed in multiple trades ranging from $269.610 to $270.140. 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.
Signature
/s/ Krish Krishnan, as attorney-in-fact for Daniel Janney|2026-02-26