Sec Form 4 Filing - Muir Douglas R @ KRISPY KREME DOUGHNUTS INC - 2014-09-18

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) 09/18/2014 (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 09/18/2014 M 40,483 A $ 3.41 170,049 ( 1 ) D Common Stock 09/18/2014 S 40,483 D $ 17.783 ( 2 ) 129,566 ( 1 ) D Common Stock 09/19/2014 M 20,450 A $ 2.65 150,016 ( 1 ) D Common Stock 09/19/2014 S 20,450 D $ 17.911 ( 3 ) 129,566 ( 1 ) 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) $ 3.41 09/18/2014 M 40,483 ( 4 ) 09/11/2017 Common Stock 40,483 $ 0 0 D Stock Option (right to buy) $ 2.65 09/19/2014 M 20,450 ( 5 ) 01/25/2020 Common Stock 20,450 $ 0 9,550 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 09/22/2014 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The amounts reported in column 5 are updated to accurately reflect previously reported restricted stock units ("RSUs") granted to Mr. Muir. Although all of the RSUs were timely reported on Form 4, the cooresponding column 5 amounts did not accurately reflect the RSUs beneficially owned by Mr. Muir. ( 2 )The sale of the shares reported in Column 4 was made as part of Mr. Muir's personal investment and financial planning needs, including for individual asset diversification, retirement planning and estate planning purposes. The Price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.77 to $17.80, inclusive. Mr. Muir 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 sale of the shares reported in Column 4 was made as part of Mr. Muir's personal investment and financial planning needs, including for individual asset diversification, retirement planning and estate planning purposes. The Price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.8116 to $18.02, inclusive. Mr. Muir 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. ( 4 )The options vest in four nearly equal annual installments beginning on September 11, 2008. ( 5 )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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