Knit in established pattern?

Ok, I’m sure I’m making this harder than it should be. I am make the Rib-A-Roni Hat in the round. It is a k4, p1, k4 rib. I am now setting up for the crown. The pattern reads, "At the beginning of round, remove marker, k2, place first marker (new location for beginning of rouds), *work around in established rib for 20 sts, place another marker, *(repeat * * two more time for third and fourth marker), ending with a K2. The stitches should be evenly divided between the 4 markers (20sts)
So does this mean, K2, place marker and knit the knits and purl the purls, or does it mean K2, place marker, k4,p1 till I get to the end and K2?
I should have read this when I wasn’t so tired!
Any help you have will be greatly appreciated.

The first one. Keep to the stitch pattern as you see it, k the knits, and p the purls. You’re just moving the marker over 2 sts.

Thanks for answering so quickly! That’s what I thought, but then I started over thinking it!