<SUBMISSION>
<ACCESSION-NUMBER>0000912057-02-019524
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20011231
<FILING-DATE>20020510
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>FRANKLIN COVEY CO
<CIK>0000886206
<ASSIGNED-SIC>2780
<IRS-NUMBER>870401551
<STATE-OF-INCORPORATION>UT
<FISCAL-YEAR-END>0831
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-11107
<FILM-NUMBER>02641275
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2200 W PKWY BLVD
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84119-2331
<PHONE>8018177171
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2200 W PARKWAY BLVD
<CITY>SALT LAKE CITY
<STATE>UT
<ZIP>84119
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>FRANKLIN QUEST CO
<DATE-CHANGED>19940218
</FORMER-COMPANY>
</SUBJECT-COMPANY>
<REPORTING-OWNER>
<COMPANY-DATA>
<CONFORMED-NAME>KNOWLEDGE CAPITAL INVESTMENT GROUP
<CIK>0001088640
<RELATIONSHIP>OWNER
<STATE-OF-INCORPORATION>TX
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>4
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>4200 CHASE TOWER WEST
<STREET2>2200 ROSS AVENUE
<CITY>DALLAS
<STATE>TX
<ZIP>75201
<PHONE>2142204900
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>4200 CHASE TOWER WEST
<STREET2>2200 ROSS AVENUE
<CITY>DALLAS
<STATE>TX
<ZIP>75201
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>a2079515z4.txt
<DESCRIPTION>FORM 4
<TEXT>
<Page>

<Table>
<Caption>
--------                                  UNITED STATES SECURITIES AND EXCHANGE COMMISSION             -----------------------------
 FORM 4                                                WASHINGTON, D.C. 20549                                   OMB APPROVAL
--------                                                                                               -----------------------------
/ / CHECK THIS BOX IF NO                    STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
    LONGER SUBJECT TO
    SECTION 16.  FORM 4 OR    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
    FORM 5 OBLIGATIONS MAY       Section 17(a) of the Public Utility Holding Company Act of 1935 or
    CONTINUE.  SEE                       Section 30(f) of the Investment Company Act of 1940
    INSTRUCTION 1(b).
(Print or Type Responses)
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<S><C>
1. Name and Address of Reporting Person      2. Issuer Name AND Ticker or Trading Symbol     6. Relationship of Reporting Person(s)
                                                                                                 to Issuer (Check all applicable)
                                                                                                    Director          X  10% Owner
Knowledge Capital Investment Group           Franklin Covey Co. (NYSE: FC)                     ----                 ----
---------------------------------------------------------------------------------------------       Officer (give        Other
    (Last)        (First)        (Middle)    3. IRS or Social Security  4. Statement for       ----          title  ---- (specify
                                                Number of Reporting        Month/Year                        below)       below
                                                Person (Voluntary)                            -----------------  ------------------
4200 Texas Commerce Tower West, 2200 Ross Avenue                           December 2001
--------------------------------------------                            --------------------- 7. Individual or Joint/Group Filing
                  (Street)                                              5. If Amendment,          (Check Applicable Line)
                                                                           Date of Original    X Form filed by One Reporting Person
                                                                           (Month/Year)       ---
                                                                                                 Form filed by More than One
                                                                                                 Reporting Person
    Dallas        Texas             75201                                                     ---
------------------------------------------------------------------------------------------------------------------------------------
    (City)       (State)            (Zip)        TABLE I - NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
------------------------------------------------------------------------------------------------------------------------------------
1. Title of Security               2. Trans-   3. Trans-     4. Securities Acquired (A)    5. Amount of     6. Owner-   7. Nature
   (Instr. 3)                         action      action        or Disposed of (D)            Securities       ship        of In-
                                      Date        Code          (Instr. 3, 4 and 5)           Beneficially     Form:       direct
                                                  (Instr. 8)                                  Owned at         Direct      Bene-
                                     (Month/                                                  End of           (D) or      ficial
                                      Day/     -------------------------------------------    Month            Indirect    Owner-
                                      Year)                               (A) or                               (I)         ship
                                                Code    V       Amount    (D)     Price       (Instr. 3        (Instr. 4) (Instr. 4)
                                                                                              and 4)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)
                                                                                                                     SEC 1474 (8/92)


                                                        Page 1 of 2
</Table>

<Page>

<Table>
<Caption>

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     2. Conver-   3. Trans-   4. Transac-   5. Number of Deriv-      6. Date Exer-
   (Instr. 3)                          sion or      action      tion Code     ative Securities Ac-     cisable and Ex-
                                       Exercise     Date        (Instr. 8)    quired (A) or Dis-       piration Date
                                       Price of    (Month/                    posed of (D)             (Month/Day/
                                       Deriv-       Day/                      (Instr. 3, 4, and 5)     Year)
                                       ative        Year)
                                       Security

                                                                                                    --------------------

                                                                                                     Date      Expira-
                                                             --------------------------------------  Exer-     tion
                                                                                                     cisable   Date
                                                              Code    V        (A)        (D)
<S><C>
------------------------------------------------------------------------------------------------------------------------
Series A Convertible Preferred Stock   $14.00     12/31/2001  J(1)          20,191.70                  (1)
------------------------------------------------------------------------------------------------------------------------

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<Caption>

------------------------------------------------------------------------------------------
7. Title and Amount of Under-       8. Price   9. Number     10. Owner-     11. Nature
   lying Securities                    of         of Deriv-      ship           of In-
   (Instr. 3 and 4)                    Deriv-     ative          Form           direct
                                       ative      Securi-        of De-         Bene-
                                       Secur-     ties           rivative       ficial
                                       ity        Bene-          Secu-          Own-
                                       (Instr.    ficially       rity:          ership
                                       5)         Owned          Direct         (Instr. 4)
                                                  at End         (D) or
                     Amount or                    of             Indi-
       Title         Number of                    Month          rect (I)
                     Shares                       (Instr. 4)     (Instr. 4)
<S><C>
------------------------------------------------------------------------------------------
Common Stock         144,226            (1)      827,859.67         D
------------------------------------------------------------------------------------------

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Explanation of Responses:

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

(1)      Shares of Series A Preferred Stock issued to the Reporting Person as a
         payment-in-kind dividend. Each share of Series A Preferred Stock is
         convertible into 7.143 shares of Common Stock at the option of the
         holder at any time. Donald J. McNamara, who is a principal of the
         private investment firm that sponsors the Reporting Person, is a member
         of the Board of Directors of the Company and may be deemed to
         beneficially own the securities of the Company held by the Reporting
         Person. Mr. McNamara expressly disclaims any beneficial ownership of
         such securities.


Note:    File three copies of this Form, one of which must be manually signed.          /s/ KYMBERLYN J. IRVIN          5/10/2002
         If space is insufficient, SEE Instruction 6 for procedure.                -----------------------------------  ----------
                                                                                           Kymberlyn J. Irvin              Date
                                                                                          Authorized Signatory



                                                                                                                              Page 2
                                                                                                                     SEC 1474 (8-92)
                                                        Page 2 of 2
</Table>

</TEXT>
</DOCUMENT>
</SUBMISSION>
