X0201 42003-08-0700000740670MICHAELS STORES INC MIK0001224481BEASLEY MARK V8000 BENT BRANCH DRIVEIRVINGTX750630100SVP, General Counsel & Sec.Stock Option (Right to Buy)35.312003-08-074A0158330A2008-08-06Common Stock1583315833DGrant to the reporting person on August 7, 2003 of options under the Michaels Stores, Inc. Amended and Restated 1997 Stock Option Plan (exempt) to purchase 15,833 shares of Michaels Stores, Inc. common stock; 5,277 of which will vest on August 7, 2004, and 5,278 of which will vest on each of August 7, 2005 and August 7, 2006. Todd J. Thorson, Attorney-in-Fact for Mark V. Beasley, Senior Vice President, General Counsel and Secretary2003-08-11