X0201 4 2004-03-15 0 0000740670 MICHAELS STORES INC MIK 0001187783 MARCUS RICHARD C 8000 BENT BRANCH DRIVE IRVING TX 75063 1 0 0 0 Common Stock 2004-03-15 4 M 0 10000.0000 11.3125 A 15000.0000 D Common Stock 2004-03-15 4 S 0 1900.0000 46.6500 D 13100.0000 D Common Stock 2004-03-15 4 S 0 4700.0000 46.8000 D 8400.0000 D Common Stock 2004-03-15 4 S 0 1400.0000 46.8100 D 7000.0000 D Stock Option (Right to Buy) 11.3125 2004-03-15 4 M 0 10000.0000 0 D 2004-05-01 Common Stock 10000.0000 0 D Exercise of stock options pursuant to original grant to the reporting person on May 2, 1999 of options under the Michaels Stores, Inc. Amended and Restated 1997 Stock Option Plan to purchase 100,000 shares of Michaels Stores, Inc. common stock (adjusted to give effect to a two-for-one stock split effected in the form of a stock dividend to stockholders of record as of the close of business on November 12, 2001). All options associated with this grant were exercisable immediately upon grant. After giving effect to the transaction that is the subject of this report, no options remain outstanding under this grant. /s/ Elizabeth K. Giddens Elizabeth K. Giddens, Attorney-in-Fact for Richard C. Marcus 2004-03-17