MICHAELS STORES INC 4
4 · MICHAELS STORES INC · Filed Apr 20, 2004
Insider Transaction Report
Form 4
SULLIVAN DOUGLAS B
Executive VP - Development
Transactions
- Exercise/Conversion
Common Stock
2004-04-16$20.98/sh+33,333$699,493→ 34,761 total - Sale
Common Stock
2004-04-16$49.26/sh−33,333$1,641,914→ 1,428 total - Exercise/Conversion
Stock Option (Right to Buy)
2004-04-16−33,333→ 16,667 totalExercise: $20.98Exp: 2006-07-30→ Common Stock (33,333 underlying)
Footnotes (2)
- [F1]The reported amount includes 428 shares of Michaels Stores, Inc. common stock acquired by the reporting person under the Michaels Stores, Inc. Amended and Restated 1997 Employees Stock Purchase Plan (also known as the ESPP), based on a plan statement issued by the ESPP's administrator as of March 31, 2004.
- [F2]Exercise of stock options pursuant to original grant to the reporting person on July 31, 2001 of options under the Michaels Stores, Inc. Amended and Restated 1997 Stock Option Plan to purchase 50,000 shares of Michaels Stores, Inc. common stock (adjusted to give effect to a two-for-one stock split effected in the form of a stock dividend to stockholders of record as of the close of business on November 12, 2001). The options associated with this grant vest in three annual installments beginning on July 31, 2002. After giving effect to the transaction that is the subject of this report, 16,667 options remain outstanding under this grant, all of which will vest on July 31, 2004.