JANNEY DANIEL 4

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.