X0201 42003-08-0700000740670MICHAELS STORES INC MIK0001186605HIEMENZ DUANE E8000 BENT BRANCH DRIVEIRVINGTX750630100SVP - New Business DevelopmentStock Option (Right to Buy)35.312003-08-074A0175000A2008-08-06Common Stock1750017500DGrant 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 17,500 shares of Michaels Stores, Inc. common stock; 5,833 of which will vest on each of August 7, 2004 and August 7, 2005, and 5,834 of which will vest on August 7, 2006. Elizabeth K. Giddens, Attorney-in-Fact for Duane E. Hiemenz, Senior Vice President - New Business Development2003-08-11