UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C.  20549

 

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): March 25, 2014

 

MICHAELS STORES, INC.

(Exact Name of Registrant as Specified in Charter)

 

Delaware
(State or Other Jurisdiction
of Incorporation)

 

001-09338
(Commission
File Number)

 

75-1943604
(IRS Employer
Identification No.)

 

8000 Bent Branch Drive

Irving, Texas  75063

(Address of Principal Executive Offices) (Zip Code)

 

Registrant’s telephone number, including area code: (972) 409-1300

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o                         Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o                         Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o                         Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o                        Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


 

Item 5.02                                           Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements with Certain Officers

 

Fiscal Year 2014 Bonus Plan

 

On March 25, 2014, the board of directors of Michaels Stores, Inc. (the “Company”) approved the fiscal year 2014 bonus plan (the “2014 Bonus Plan”) under which the named executive officers of the Company set forth below participate.  A copy of the 2014 Bonus Plan is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

 

Name

 

Position

Carl S. Rubin

 

Chief Executive Officer

Charles M. Sonsteby

 

Chief Administrative Officer and Chief Financial Officer

Thomas C. DeCaro

 

Executive Vice President - Supply Chain

Philo T. Pappas

 

Executive Vice President - Merchandising

 

Item 9.01.                                        Financial Statements and Exhibits.

 

(d)                   Exhibits.

 

10.1

 

Form of Fiscal Year 2014 Bonus Plan for Executive Officers.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

MICHAELS STORES, INC.

 

 

 

 

By:

/s/ Michael J. Veitenheimer

 

 

Michael J. Veitenheimer

 

 

Senior Vice President, Secretary

 

 

and General Counsel

 

 

 

 

 

 

Date: March 31, 2014

 

 

 

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INDEX TO EXHIBITS

 

10.1

 

Form of Fiscal Year 2014 Bonus Plan for Executive Officers.

 

4