X0201 42003-08-0700000740670MICHAELS STORES INC MIK0001187258ROULEAU R MICHAEL8000 BENT BRANCH DRIVEIRVINGTX750630100President and CEOStock Option (Right to Buy)35.312003-08-074A01000000A2008-08-06Common Stock100000100000DGrant 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 100,000 shares of Michaels Stores, Inc. common stock; 33,333 of which will vest on each of August 7, 2004 and August 7, 2005, and 33,334 of which will vest on August 7, 2006. Elizabeth K. Giddens, Attorney-in-Fact for R. Michael Rouleau, President and Chief Executive Officer2003-08-11