FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  PAPPAS PHILO
2. Date of Event Requiring Statement (Month/Day/Year)
02/28/2019
3. Issuer Name and Ticker or Trading Symbol
Michaels Companies, Inc. [MIK]
(Last)
(First)
(Middle)
8000 BENT BRANCH DRIVE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Pres. - Merch. & Supply Chain
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

IRVING, TX 75063
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 7,970
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options (right to buy)   (1) 07/03/2021 Common Stock 18,987 $ 13.9 D  
Employee Stock Options (right to buy)   (2) 08/12/2024 Common Stock 30,232 $ 15.16 D  
Employee Stock Options (right to buy)   (3) 09/30/2025 Common Stock 39,685 $ 23.1 D  
Employee Stock Options (right to buy)   (4) 09/14/2026 Common Stock 38,355 $ 23.9 D  
Employee Stock Options (right to buy)   (5) 03/31/2027 Common Stock 49,128 $ 22.39 D  
Employee Stock Options (right to buy)   (6) 03/29/2028 Common Stock 55,812 $ 19.71 D  
Restricted Stock Units   (7)   (7) Common Stock 3,835 $ (8) D  
Restricted Stock Units   (9)   (9) Common Stock 6,141 $ (8) D  
Restricted Stock Units   (10)   (10) Common Stock 9,302 $ (8) D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
PAPPAS PHILO
8000 BENT BRANCH DRIVE
IRVING, TX 75063
      Pres. - Merch. & Supply Chain  

Signatures

Michael J. Veitenheimer, as attorney-in-fact 03/04/2019
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This option, representing a right to purchase a total of 75,940 shares of the registrant's common stock, became exercisable in four equal annual installments beginning on July 3, 2014, which was the first anniversary of the date on which the option was granted.
(2) This option, representing a right to purchase a total of 60,465 shares of the registrant's common stock, became exercisable in four equal annual installments beginning on August 12, 2015, which was the first anniversary of the date on which the option was granted.
(3) This option to purchase common stock vests in equal installments annually over four years beginning on September 30, 2016, which was the first anniversary of the date on which the option was granted.
(4) This option to purchase common stock vests in equal installments annually over four years beginning on September 14, 2017, which was the first anniversary of the date on which the option was granted.
(5) This option to purchase common stock vests in equal installments annually over four years beginning on March 31, 2018, which was the first anniversary of the date on which the option was granted.
(6) This option to purchase common stock vests in equal installments annually over four years beginning on March 29, 2019, which was the first anniversary of the date on which the option was granted.
(7) On September 14, 2016, the reporting person was granted a total of 7,671 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
(8) Each restricted stock unit represents a contingent right to receive one share of common stock without the payment of additional consideration.
(9) On March 31, 2017, the reporting person was granted a total of 8,188 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.
(10) On March 29, 2018, the reporting person was granted 9,302 restricted stock units, vesting in four equal annual installments beginning on the first anniversary of the grant date.

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