X0202 4 2005-06-14 0 0000740670 MICHAELS STORES INC MIK 0001187783 MARCUS RICHARD C 8000 BENT BRANCH DRIVE IRVING TX 75063 1 0 0 0 Common Stock 2005-06-14 4 M 0 39100 10.50 A 53100 D Common Stock 2005-06-14 4 S 0 10000 41.99 D 43100 D Common Stock 2005-06-14 4 S 0 4900 41.85 D 38200 D Common Stock 2005-06-14 4 S 0 100 41.88 D 38100 D Common Stock 2005-06-14 4 S 0 5000 41.93 D 33100 D Common Stock 2005-06-14 4 S 0 5000 41.97 D 28100 D Common Stock 2005-06-14 4 S 0 5000 41.98 D 23100 D Common Stock 2005-06-14 4 S 0 9100 42.10 D 14000 D Stock Option (Right to Buy) 10.50 2005-06-14 4 M 0 39100 0.00 D 2006-10-04 Common Stock 39100 0 D Exercise of stock options pursuant to original grant to the reporting person on October 5, 2001 of options under the Michaels Stores, Inc. Second Amended and Restated 2001 General Stock Option Plan to purchase 70,000 shares of Michaels Stores, Inc. common stock (adjusted to give effect to a two-for-one stock split to stockholders of record as of the close of business on each of November 12, 2001 and September 27, 2004). The options associated with this grant vested on October 5, 2001. After giving effect to the transaction that is the subject of this report, no options remain outstanding under this grant. /s/ Todd J. Thorson Todd J. Thorson, Attorney-in-Fact for Richard C. Marcus 2005-06-16