Krystal Biotech (NASDAQ: KRYS) spouses report 11.5% stake

Rhea-AI Filing Summary

Krystal Biotech insiders Krish S. Krishnan and Suma M. Krishnan jointly filed Amendment No. 3 to their Schedule 13G/A reporting an aggregate 3,388,283 shares of Common Stock, representing 11.5% of the class. The percentage is based on 29,479,756 shares outstanding as of April 29, 2026. The filing breaks down holdings as directly owned shares, shares held in family and spousal trusts, and stock options exercisable for 158,525 and 121,350 shares respectively. The Reporting Persons state shared voting and dispositive power over the aggregate amount and include a Joint Filing Agreement as Exhibit 99.1.

Key Figures

Aggregate shares reported: 3,388,283 shares Percent of class: 11.5% Shares outstanding used: 29,479,756 shares +4 more

7 metrics

Aggregate shares reported 3,388,283 shares reported beneficial ownership aggregate

Percent of class 11.5% based on shares outstanding as of April 29, 2026

Shares outstanding used 29,479,756 shares outstanding as of April 29, 2026 per Form 10-Q

Shares directly owned by Krish S. Krishnan 1,475,253 shares direct ownership reported in Item 4(c)(ii)

Shares directly owned by Suma M. Krishnan 1,403,155 shares direct ownership reported in Item 4(c)(ii)

Options exercisable by Krish 158,525 shares stock options exercisable reported in Item 4(c)(ii)

Options exercisable by Suma 121,350 shares stock options exercisable reported in Item 4(c)(ii)

Key Terms

beneficial owner, shared voting power, Rule 13d-3(d)(1)(i), Schedule 13G/A, +1 more

5 terms

beneficial owner regulatory

"Each of the Reporting Persons may be deemed to be the beneficial owner"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared voting power regulatory

"Shared Voting Power 3,388,283.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Rule 13d-3(d)(1)(i) regulatory

"calculated in accordance with Rule 13d-3(d)(1)(i)"

Schedule 13G/A regulatory

"Amendment No. 3 to the Individual 13Gs"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

dispositive power regulatory

"Shared Dispositive Power 3,388,283.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/04/2026 - 07:10 AM Learn about SEC filing dates

FAQ

What stake do Krish and Suma Krishnan report in KRYS?

They report an aggregate 3,388,283 shares, equal to 11.5%. This percent is calculated using 29,479,756 shares outstanding as of April 29, 2026, per the filing's cited Form 10-Q.

How are the reported 3,388,283 shares composed?

The total includes direct holdings, trust holdings, and option exercisables. Specifically: 1,475,253 (Krish), 1,403,155 (Suma), two trust blocks of 90,000 each, 50,000 family trust shares, and exercisable options of 158,525 and 121,350 shares.

Do the Krishnans report voting or dispositive power over these shares?

Yes; they report shared voting and shared dispositive power over 3,388,283 shares. The filing states sole voting and dispositive power are zero for each, with the aggregate control reported as shared between the Reporting Persons.

What date and reference did the filing use to calculate the percent owned?

The filing uses 29,479,756 shares outstanding as of April 29, 2026. That outstanding share count is cited from the Company's Form 10-Q filed on May 4, 2026, and used to compute the 11.5% figure.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 3)

Krystal Biotech, Inc. (the "Company")

(Name of Issuer)

Common Stock, $0.00001 par value ("Common Stock")

(Title of Class of Securities)

501147102

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 501147102

1

Names of Reporting Persons

Krish S. Krishnan

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,388,283.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,388,283.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,388,283.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

CUSIP Number(s): 501147102

1

Names of Reporting Persons

Suma M. Krishnan

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,388,283.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,388,283.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,388,283.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

11.5 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Krystal Biotech, Inc. (the "Company")
(b)	Address of issuer's principal executive offices: 2100 Wharton Street, Suite 701, Pittsburgh, Pennsylvania, 15203
Item 2.
(a)	Name of person filing: The Reporting Persons, Mr. Krish S. Krishnan and his wife, Mrs. Suma M. Krishnan, each filed a Schedule 13G on April 4, 2018, which were both then amended on February 19, 2019, and February 14, 2020 (the "Individual 13Gs"). The Reporting Persons are now reporting together on this Schedule 13G/A, which is deemed to be the 3rd Amendment to the Individual 13Gs.
(b)	Address or principal business office or, if none, residence: c/o KRYSTAL BIOTECH, INC. 2100 WHARTON STREET SUITE 701 PITTSBURGH, PA 15203
(c)	Citizenship: Mr. and Mrs. Krishnan are citizens of the United States of America.
(d)	Title of class of securities: Common Stock, $0.00001 par value ("Common Stock")
(e)	CUSIP No.: 501147102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Each of the Reporting Persons may be deemed to be the beneficial owner of an aggregate 3,388,283 shares of the Company's Common Stock as set forth in more detail in response to Item 4(c) below.
(b)	Percent of class: 11.5% The percentage was calculated in accordance with Rule 13d-3(d)(1)(i) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act") based on an aggregate total of 29,479,756 shares of Common Stock outstanding as of April 29, 2026, as reported by the Company in its Form 10-Q filed with the U.S. Securities and Exchange Commission on May 4, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Krish S. Krishnan: 0 shares of Common Stock Suma M. Krishnan: 0 shares of Common Stock
	(ii) Shared power to vote or to direct the vote: Krish S. Krishnan: 3,388,283 shares of Common Stock Suma M. Krishnan: 3,388,283 shares of Common Stock The reported securities are directly held as follows: (i) 1,475,253 shares of Common Stock directly owned by Krish S. Krishnan; (ii) 1,403,155 shares of Common Stock directly owned by Suma M. Krishnan; (iii) 90,000 shares of Common Stock that are directly owned by the SMK Trust FBO KSK, an irrevocable trust established by Mrs. Krishnan for the benefit of Mr. Krishnan who serves as a co-trustee and shares voting and dispositive power with a 3rd party co-trustee. These shares of Common Stock are not beneficially owned by Mrs. Krishnan but are included to disclose the aggregate holdings of both Reporting Persons; (iv) 90,000 shares of Common Stock that are directly owned by the Krishnan Spousal Trust, an irrevocable trust established by Mr. Krishnan for the benefit of Mrs. Krishnan who serves as a co-trustee and shares voting and dispositive power with a 3rd party co-trustee. These shares of Common Stock are not beneficially owned by Mr. Krishnan but are included to disclose the aggregate holdings of both Reporting Persons; (v) 50,000 shares of Common Stock owned by the Krishnan Family Trust, a revocable trust established for the benefit of Mr. and Mrs. Krishnan who share voting and investment control of the trust; (v) 158,525 shares of Common Stock issuable upon the exercise of stock options held by Mr. Krishnan; and (vi) 121,350 shares of Common Stock issuable upon the exercise of stock options held by Mrs. Krishnan. The Reporting Persons may be deemed to share beneficial ownership of the reported securities, but the filing of this Statement shall not be construed as an admission of such beneficial ownership for purposes of Section 13(d) or 13(g) of the Exchange Act or for any other purpose.
	(iii) Sole power to dispose or to direct the disposition of: Krish S. Krishnan: 0 shares of Common Stock Suma M. Krishnan: 0 shares of Common Stock
	(iv) Shared power to dispose or to direct the disposition of: Krish S. Krishnan: 3,388,283 shares of Common Stock Suma M. Krishnan: 3,388,283 shares of Common Stock See Item 4(c)(ii) above, which is incorporated herein by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Krish S. Krishnan

Signature:	/s/ Krish S. Krishnan
Name/Title:	Krish S. Krishnan/Chariman & CEO
Date:	05/04/2026

Suma M. Krishnan

Signature:	/s/Suma M. Krishnan
Name/Title:	Suma M. Krishnan/Director, President R&D
Date:	05/04/2026

Exhibit Information

Exhibit 99.1 Joint Filing Agreement