Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

On April 29, 2020, the compensation committee (the "Compensation Committee") of the board of directors of Krystal Biotech, Inc., a Delaware corporation (the "Company"), approved 2019 cash bonus awards for Krish Krishnan, the Company's chief executive officer, and Suma Krishnan, the Company's chief operating officer. Mr. Krishnan's cash bonus is $254,153 and Ms. Krishnan's bonus is $140,054, which reflect a 105% payout of their target bonuses of 50% and 35% of their 2019 base salaries, respectively.

The Company filed its definitive proxy statement on Schedule 14A for its 2020 annual meeting of stockholders on April 14, 2020 (the "Proxy Statement"). At the time the Proxy Statement was filed, 2019 bonus awards for Mr. Krishnan and Ms. Krishnan had not been determined. As a result, the Summary Compensation Table included on page 15 of the Proxy Statement does not reflect the 2019 bonus awards described above. With the addition of the bonus awards, Mr. Krishnan's total compensation for 2019 was increased to $619,878, and Ms. Krishnan's total compensation for 2019 was increased to $495,444.

In addition, on April 29, 2020 the Compensation Committee approved an increase in Ms. Krishnan's target bonus award to 50% of her base salary for 2020.

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