X0201 42003-08-0700000740670MICHAELS STORES INC MIK0001232405GREENWOOD MIKE8000 BENT BRANCH DRIVEIRVINGTX750630100President of ArtistreeStock Option (Right to Buy)35.312003-08-074A0250000A2008-08-06Common Stock2500025000DGrant 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 25,000 shares of Michaels Stores, Inc. common stock; 8,333 of which will vest on each of August 7, 2004 and August 7, 2005, and 8,334 of which will vest on August 7, 2006. Todd J. Thorson, Attorney-in-Fact for Mike Greenwood, President of Artistree, a division of Michaels Stores, Inc.2003-08-11