Form 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 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(f) of the Investment Company Act of 1940	OMB APPROVAL
			OMB Number: 3235-0287
			Expires: December 31, 2001
[ ]	Check box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See instructions 1(b).		Estimated average burden hours per response. . .~~....~~ 0.5

(Print or Type Responses)

X ⁽¹⁾ Other (specify
title below) below)

1. Name and Address of Reporting Person* Dorgan, Patricia M.

2. Issuer Name and Ticker or Trading Symbol Krispy Kreme Doughnuts, Inc. (KKD)

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)

1. Name and Address of Reporting Person* Tillman Elizabeth M.

2. Issuer Name and Ticker or Trading Symbol Krispy Kreme Doughnuts, Inc. (KKD)

6. Relationship of Reporting Person(s) to Issuer (Check all applicable) ____ Director ____ 10% Owner ____ Officer (give

(Last) (First) (Middle) 2024 Tuileries Cove

3. I.R.S. Identification Number of Reporting Person, if an entity voluntary)

4. Statement for Month/Year December 2001

(Last) (First) (Middle) 6637 South Winding Brook

3. I.R.S. Identification Number of Reporting Person, if an entity voluntary)

4. Statement for Month/Year December 2001

(Street)

(Street) Montrose AL 36559

5. If Amendment, Date of Original (Month/Year)

7. 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 (Month/Day/Year)

3. Transaction Code (Instr. 8)

4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)

5. Amount of Securities Beneficially Owned at End of Month (Instr. 3 and 4)

6. Owner- ship Form: Direct (D) or Indirect (I) (Instr. 4)

7. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

Amount

(A) or (D)

Price

Common Stock

07/06/01

3,500

Common Stock

09/26/01

786,204

Common Stock

10/24/01

29,000

Common Stock

11/26/01

14,000

$39.70

Common Stock

11/27/01

40,000

$38.22

Common Stock

11/28/01

32,400

$37.05

Common Stock

11/29/01

50,300

$36.17

Common Stock

11/30/01

60,000

$37.16

Common Stock

12/03/01

25,600

$37.26

Common Stock

12/04/01

25,200

$36.89

Common Stock

12/05/01

82,500

$37.92

543,704

Common Stock

453,956

(2)

5. If Amendment, Date of Original (Month/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

786,204

5,000

1,500

14,100

40,000

32,500

50,300

60,000

25,600

25,100

82,400

2,750

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 Instructions 4(b)(v).
	Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.	(Over) SEC 1474 (3-99)

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 Instructions 4(b)(v). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. (Over) SEC 1474 (3-99)

FORM 4 (continued)

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 (Month/ Day/ Year)

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 (Month/Day/Year)

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 at End of Month (Instr. 4)

10. Ownership Form ~~ofDerivativeSecurity~~of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Explanation of Responses: (1) The reporting person is a member of a Section 13d group that owns more than 10% of the ~~issuer~~Issuer's outstanding common stock. (2) Held by McAleer Investments Limited Partnership, a limited partnership of which the reporting person is a general partner.

**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).	/s/ Patricia M. Dorgan Patricia M. Dorgan **Signature of Reporting Person	01-21-02 Date
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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

/s/ Elizabeth M. Tillman

Elizabeth M. Tillman
**Signature of Reporting Person

1/24/02

Date

Note:

File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.

Page 2

Filing Compare · KRISPY KREME DOUGHNUTS INC