X0202 3 2006-03-15 0 0000740670 MICHAELS STORES INC MIK 0001239636 BAZZONE THOMAS M 8000 BENT BRANCH DRIVE IRVING TX 75063 0 1 0 0 EVP - Specialty Businesses Common Stock 1597 D Stock Option (Right to Buy) 26.67 2009-06-06 Common Stock 100000 D Stock Option (Right to Buy) 25.59 2009-08-05 Common Stock 25000 D Stock Option (Right to Buy) 37.96 2010-08-04 Common Stock 43750 D The reported amount consists entirely of shares of Michaels Stores, Inc. common stock acquired by the reporting person under the Michaels Stores, Inc. 1997 Second Amended and Restated Employees Stock Purchase Plan, based on a plan statement issued by the plan administrator dated March 17, 2006. Grant to the reporting person on June 7, 2004 of options under the Michaels Stores, Inc. Amended and Restated 1997 Stock Option Plan to purchase 100,000 shares of Michaels Stores, Inc. common stock; 33,333 of which are currently vested, 33,333 of which will vest on June 7, 2006, and 33,334 of which will vest on June 7, 2007. Grant to the reporting person on August 6, 2004 of options under the Michaels Stores, Inc. Amended and Restated 1997 Stock Option Plan to purchase 25,000 shares of Michaels Stores, Inc. common stock; 8,333 of which are currently vested, 8,333 of which will vest on August 6, 2006, and 8,334 of which will vest on August 6, 2007. Grant to the reporting person on August 5, 2005 of options under the Michaels Stores, Inc. 2005 Incentive Compensation Plan to purchase 43,750 shares of Michaels Stores, Inc. common stock; 14,583 of which will vest on each of August 5, 2006 and August 5, 2007, and 14,584 of which will vest on August 5, 2008. /s/ Todd J. Thorson, Attorney-in-Fact for Thomas M. Bazzone, Executive Vice President - Specialty Businesses 2006-03-21