A four-valued semantics for the modal logic K is introduced. Possible worlds are replaced by a hierarchy of four-valued valuations, where the valuations of the first level correspond to valuations that are legal w.r.t. a basic non-deterministic matrix, and each level further restricts its set of valuations. The semantics is proven to be effective, and to precisely capture derivations in a sequent calculus for K of a certain form. Similar results are then obtained for the modal logic KT, by simply deleting one of the truth values.