Michaels Companies Form 4/A Michaels Companies / MARK COSBY ownership change

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

COSBY MARK

(Last) (First) (Middle)

8000 BENT BRANCH DRIVE

(Street)

IRVING TX 75063

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Michaels Companies, Inc. [ MIK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/31/2020

4. If Amendment, Date of Original Filed (Month/Day/Year)
08/04/2020

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/31/2020		M		5,073	A	(1)	112,072	D
Common Stock	07/31/2020(2)		M		9,375	A	(1)	121,447	D
Common Stock	07/31/2020		F(3)		7,495	D	$7.18	113,952	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	07/31/2020		M			5,073	(4)	(4)	Common Stock	5,073	$0	25,365	D
Restricted Stock Units	(1)	07/31/2020(2)		M			9,375	(5)	(5)	Common Stock	9,375	$0	56,250	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of common stock without the payment of additional consideration.

2. This amendment corrects the vesting date of 9,375 restricted stock units, which was July 31, 2020. The original Form 4, filed on August 4, 2020, reported this date in error.

3. Withholding of common stock to satisfy reporting person's tax obligation upon the (i) restriction lapse of a restricted stock award or (ii) vesting of a restricted stock unit award. This amendment corrects the date and price of this withholding, which was July 31, 2020 and $7.18, respectively. The original Form 4, filed on August 4, 2020, reported this information in error.

4. On November 4, 2019, the reporting person was granted 40,584 restricted stock units, vesting twelve and a half percent (12.5%) on the last business day of the fiscal quarter of The Michaels Companies, Inc. (the "Company") in which the grant was made and on each of the seven subsequent fiscal quarter-ends of the Company.

5. On February 3, 2020, the reporting person was granted 75,000 restricted stock units, vesting twelve and a half percent (12.5%) on the last business day of the fiscal quarter of the Company in which the grant was made and on each of the seven subsequent fiscal quarter-ends of the Company.

	Jennifer Raibon, as attorney-in-fact	10/23/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (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).
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