Sec Form 4 Filing - Muir Douglas R @ KRISPY KREME DOUGHNUTS INC - 2013-04-04

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Muir Douglas R 2. Issuer Name and Ticker or Trading Symbol KRISPY KREME DOUGHNUTS INC [ KKD] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Financial Officer (Last) (First) (Middle) 370 KNOLLWOOD STREET, SUITE 500 3. Date of Earliest Transaction (MM/DD/YY) 04/04/2013 (Street) WINSTON-SALEM, NC27103 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 04/04/2013 M 60,000 A $ 1.4 138,177 D Common Stock 04/04/2013 M 60,000 A $ 2.65 198,177 D Common Stock 04/04/2013 S 120,000 ( 1 ) D $ 14.18 ( 2 ) 78,177 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Option (right to buy) $ 1.4 04/04/2013 M 60,000 ( 3 ) 01/29/2019 Common Stock 60,000 $ 0 0 D Stock Option (right to buy) $ 2.65 04/04/2013 M 60,000 ( 4 ) 01/25/2020 Common Stock 60,000 $ 0 30,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Muir Douglas R 370 KNOLLWOOD STREET SUITE 500 WINSTON-SALEM, NC27103 Chief Financial Officer Signatures /s/Kimberly Kennedy, Attorney-in-Fact 04/08/2013 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Of the 120,000 shares sold, 66,052 shares were sold to cover the strike price of stock options exercised and the estimated taxes resulting from the exercise. The Reporting Person holds vested and unvested shares and options to purchase shares as indicated in this filing and the Reporting Person's other filings under Section 16 of the Securities Exchange Act of 1934, as amended. The Issuer's reports and other filings with the United States Securities and Exchange Commission contain disclosures regarding the Reporting Person's ownership of the Issuer's equity securities as of the dates set forth therein. ( 2 )The Price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.15 to $14.292, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. ( 3 )The options vest in four equal annual installments beginning on January 29, 2010. ( 4 )The options vest in four equal annual installments beginning on January 25, 2011.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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