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style="font-size:18pt;font-weight:bold;">UNITED STATES</b><span style="font-size:18pt;"> </span></p><p style="font-family:'Times New Roman';font-size:11pt;min-height:12.0pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</b><span style="font-size:18pt;"> </span></p><p style="font-family:'Times New Roman';font-size:10pt;min-height:12.0pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">WASHINGTON, DC 20549</b> </p><div style="float:left;height:8.25pt;width:0pt;"></div><div style="height:0pt;position:relative;width:100%;"><div style="height:1.5pt;position:absolute;right:50%;top:6pt;transform:translateX(50%);width:127.5pt;z-index:251658240;"><div style="height:100%;left:0.75pt;padding-bottom:0.75pt;position:relative;top:0.75pt;width:126pt;"><img src="mik-20191028x8k001.jpg" alt="Graphic" style="width:126pt;" /></div></div></div><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;min-height:12.0pt;text-align:center;margin:0pt;"><b style="font-size:18pt;font-weight:bold;">FORM </b><ix:nonNumeric contextRef="Duration_10_28_2019_To_10_28_2019_6v714LtbjUODt1omHY-thA" name="dei:DocumentType" id="Narr_foudpkoVBUGbK6-n7JDnJQ"><b style="font-size:18pt;font-weight:bold;">8-K</b></ix:nonNumeric></p><p style="font-family:'Times New Roman';font-size:11pt;min-height:12.0pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">CURRENT REPORT</b> </p><p style="font-family:'Times New Roman';font-size:11pt;min-height:12.0pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Pursuant to Section 13 or 15(d) of the</b> </p><p style="font-family:'Times New Roman';font-size:11pt;min-height:12.0pt;text-align:center;margin:0pt;"><b style="font-weight:bold;">Securities Exchange Act of 1934</b> </p><p style="font-family:'Times New 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style="bottom:0pt;position:absolute;width:100%;"></div></div></td></tr><tr><td style="vertical-align:bottom;width:35.17%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 0pt 0pt 0.5pt;"><p style="font-family:'Times New Roman';font-size:10pt;min-height:13.8pt;padding-left:7.2pt;text-indent:-7.2pt;margin:0pt;"><b style="font-weight:bold;">Title of each class</b></p></td><td style="vertical-align:top;width:21.59%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman';font-size:10pt;min-height:13.8pt;margin:0pt;"><b style="font-weight:bold;">Trading Symbol</b></p></td><td style="vertical-align:bottom;width:43.22%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 0.5pt 0pt 0pt;"><p style="font-family:'Times New Roman';font-size:10pt;min-height:13.8pt;margin:0pt;"><b style="font-weight:bold;">Name of each exchange on which registered</b></p></td></tr><tr style="height:15.2pt;"><td style="vertical-align:top;width:35.17%;border-bottom:1.0pt solid #000000;border-left:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 0pt 0pt 0.5pt;"><p style="font-family:'Times New Roman';font-size:10pt;min-height:13.8pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_10_28_2019_To_10_28_2019_6v714LtbjUODt1omHY-thA" name="dei:Security12bTitle" id="Tc_8qbuP65qK0epQysC5_ocQQ_2_0">Common Stock, $0.06775 par value</ix:nonNumeric></p></td><td style="vertical-align:top;width:21.59%;border-bottom:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 3pt 0pt 3pt;"><p style="font-family:'Times New Roman';font-size:10pt;min-height:13.8pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_10_28_2019_To_10_28_2019_6v714LtbjUODt1omHY-thA" name="dei:TradingSymbol" id="Tc_B3ErYkLzTk6PgLEZ5Gouag_2_1">MIK</ix:nonNumeric></p></td><td style="vertical-align:top;width:43.22%;border-bottom:1.0pt solid #000000;border-right:1.0pt solid #000000;border-top:1.0pt solid #000000;margin:0pt;padding:0pt 0.5pt 0pt 0pt;"><p style="font-family:'Times New Roman';font-size:10pt;min-height:13.8pt;margin:0pt;"><ix:nonNumeric contextRef="Duration_10_28_2019_To_10_28_2019_6v714LtbjUODt1omHY-thA" name="dei:SecurityExchangeName" id="Narr_tTvif9LonkabTjp0PlAHog">NASDAQ</ix:nonNumeric> Stock Exchange</p></td></tr></table><p style="font-family:'Times New Roman';font-size:11pt;min-height:12.0pt;text-align:justify;margin:0pt;"><span style="font-size:10pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;min-height:12.0pt;text-align:justify;margin:0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </p><p style="font-family:'Times New Roman';font-size:10pt;min-height:12.0pt;text-align:right;margin:0pt;">Emerging growth company <ix:nonNumeric contextRef="Duration_10_28_2019_To_10_28_2019_6v714LtbjUODt1omHY-thA" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="Narr_pKy72WnrOUaKtNWOXS9KPQ"><span style="font-family:'Segoe UI Symbol';">&#9744;</span></ix:nonNumeric></p><p style="font-family:'Times New Roman';font-size:11pt;min-height:12.0pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:10pt;min-height:12.0pt;margin:0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <span style="font-family:'Segoe UI Symbol';">&#9744;</span></p><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><a id="_b9603cfd_efcb_4091_bff0_cfea61828ef5"></a></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:82.35%;border:0;margin:30pt 8.82% 30pt 8.82%;"></div><div style="max-width:100%;padding-left:8.82%;padding-right:8.82%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><div style="padding-left:2.5pt;"><table style="border-collapse:collapse;font-size:16pt;padding-left:0.5pt;padding-right:0.5pt;table-layout:auto;width:103.42%;"><tr style="height:35.6pt;"><td style="vertical-align:top;width:11.9%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:35.6pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><b style="font-weight:bold;">Item&#160;5.02</b></p></div></div></td><td style="vertical-align:top;width:88.09%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:35.6pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><b style="font-weight:bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</b></p></div></div></td></tr></table></div><p style="font-family:'Times New Roman';font-size:11pt;text-indent:36pt;margin:0pt;">On October 28, 2019, Stephen J. Carlotti resigned as Executive Vice President&#8212;Marketing of The Michaels Companies, Inc. (the &#8220;<span style="text-decoration:underline;text-decoration-color:#000000;">Company</span>&#8221;), effective November 15, 2019.&#160; In connection with his resignation, Mr. Carlotti will receive separation payments pursuant to the Company&#8217;s previously disclosed Officer Severance Pay Plan (the &#8220;<span style="text-decoration:underline;text-decoration-color:#000000;">OSPP</span>&#8221;). Pursuant to the OSSP, upon his execution and subject to the terms of a severance agreement and release of claims, Mr. Carlotti will be entitled to eighteen months of base salary continuation, a pro-rated earned annual bonus for the Company&#8217;s fiscal year 2019, if applicable, and certain cash welfare benefit payments.&#160; The severance agreement and release of claims also contains a waiver and release of any and all claims against the Company and a commitment that, for the severance period, Mr. Carlotti will not solicit or hire any team member or distributor or vendor of the Company or its subsidiaries and will not directly or indirectly compete with, or join an organization that directly or indirectly competes with, the Company.</p><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;text-indent:36pt;margin:0pt;">The foregoing descriptions of the OSPP and the severance agreement and release of claims do not purport to be complete and are qualified in their entirety by the full text of the OSPP and the form of severance agreement and release of claims, which is attached as Exhibit A to the OSPP, which were filed as Exhibit&#160;10.1 to the Quarterly Report on Form&#160;10-Q filed by The Michaels Companies,&#160;Inc. on June 6, 2017.</p><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
<div style="background-color:#000000;clear:both;height:2pt;page-break-after:always;width:82.35%;border:0;margin:30pt 8.82% 30pt 8.82%;"></div><div style="max-width:100%;padding-left:8.82%;padding-right:8.82%;position:relative;"><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman';font-size:11pt;line-height:1.43;text-align:center;margin:0pt;"><b style="font-weight:bold;">SIGNATURE</b></p><p style="font-family:'Times New Roman';font-size:11pt;line-height:1.43;margin:9pt 0pt 0pt 0pt;">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 thereunto duly authorized.</p><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt 0pt 7pt 0pt;"><span style="font-size:9pt;visibility:hidden;">&#8203;</span></p><div style="padding-left:2.5pt;"><table style="border-collapse:collapse;font-size:16pt;padding-left:0.5pt;padding-right:0.5pt;table-layout:auto;width:102.23%;"><tr style="height:15.7pt;"><td style="vertical-align:top;width:55.08%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="font-size:10pt;font-weight:bold;visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="3" style="vertical-align:top;width:44.91%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><b style="font-weight:bold;">THE MICHAELS COMPANIES, INC.</b></p><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="font-weight:bold;visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr style="height:21.4pt;"><td style="vertical-align:bottom;width:55.08%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:21.4pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:7.02%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:21.4pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td colspan="2" style="vertical-align:bottom;width:37.89%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:21.4pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td></tr><tr style="height:15.7pt;"><td style="vertical-align:top;width:55.08%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:7.02%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt 0pt 2pt 0pt;">By:</p></div></div></td><td style="vertical-align:top;width:0.77%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:bottom;width:37.11%;border-bottom:1.0pt solid #000000;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;">/s/ Navin Rao</p></div></div></td></tr><tr style="height:15.7pt;"><td style="vertical-align:top;width:55.08%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:7.02%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;">Name:</p></div></div></td><td style="vertical-align:bottom;width:0.77%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:37.11%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:15.7pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;">Navin Rao</p></div></div></td></tr><tr style="height:24.45pt;"><td style="vertical-align:top;width:55.08%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:24.45pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:7.02%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:24.45pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;">Title:</p></div></div></td><td style="vertical-align:bottom;width:0.77%;margin:0pt;padding:0pt 0pt 0pt 3pt;"><div style="height:24.45pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div></td><td style="vertical-align:top;width:37.11%;margin:0pt;padding:0pt 2pt 0pt 3pt;"><div style="height:24.45pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="position:absolute;top:0pt;width:100%;"><p style="font-family:'Times New Roman';font-size:11pt;margin:2pt 0pt 2pt 0pt;">Vice President and Secretary</p></div></div></td></tr></table></div><p style="font-family:'Times New Roman';font-size:11pt;line-height:1.43;margin:12pt 0pt 0pt 0pt;">Date: October 31, 2019</p><table style="border-collapse:collapse;font-size:16pt;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;table-layout:auto;width:95.83%;"><tr><td style="vertical-align:bottom;width:5.15%;margin:0pt;padding:0pt;"></td><td style="vertical-align:middle;width:94.84%;margin:0pt;padding:0pt;"></td></tr></table><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p><p style="font-family:'Times New Roman';font-size:11pt;margin:0pt;"><span style="visibility:hidden;">&#8203;</span></p></div></div>
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{"company-data": {"conformed-name": "Michaels Companies, Inc.", "cik": "0001593936", "assigned-sic": "5945", "irs-number": "371737959", "state-of-incorporation": "DE", "fiscal-year-end": "0201"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-36501", "film-number": "191184158"}, "business-address": {"street1": "8000 BENT BRANCH DRIVE", "city": "IRVING", "state": "TX", "zip": "75063", "phone": "9724091300"}, "mail-address": {"street1": "8000 BENT BRANCH DRIVE", "city": "IRVING", "state": "TX", "zip": "75063"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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):
October 28, 2019
Commission File Number
001-36501
​
THE
MICHAELS COMPANIES, INC.
A
Delaware
Corporation
​
​
​
​
​
​
37-1737959
​
​
​
​
IRS Employer
Identification No.
​
​
8000 Bent Branch Drive
Irving
,
Texas
75063
(
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):
​
​
​
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
​
Securities registered pursuant to Section 12(b) of the Act:
​
Title of each class
Trading Symbol
Name of each exchange on which registered
Common Stock, $0.06775 par value
MIK
NASDAQ
Stock Exchange
​
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
​
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
☐
​
​
​
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 28, 2019, Stephen J. Carlotti resigned as Executive Vice President—Marketing of The Michaels Companies, Inc. (the "
Company
"), effective November 15, 2019.  In connection with his resignation, Mr. Carlotti will receive separation payments pursuant to the Company's previously disclosed Officer Severance Pay Plan (the "
OSPP
"). Pursuant to the OSSP, upon his execution and subject to the terms of a severance agreement and release of claims, Mr. Carlotti will be entitled to eighteen months of base salary continuation, a pro-rated earned annual bonus for the Company's fiscal year 2019, if applicable, and certain cash welfare benefit payments.  The severance agreement and release of claims also contains a waiver and release of any and all claims against the Company and a commitment that, for the severance period, Mr. Carlotti will not solicit or hire any team member or distributor or vendor of the Company or its subsidiaries and will not directly or indirectly compete with, or join an organization that directly or indirectly competes with, the Company.
​
The foregoing descriptions of the OSPP and the severance agreement and release of claims do not purport to be complete and are qualified in their entirety by the full text of the OSPP and the form of severance agreement and release of claims, which is attached as Exhibit A to the OSPP, which were filed as Exhibit 10.1 to the Quarterly Report on Form 10-Q filed by The Michaels Companies, Inc. on June 6, 2017.
​
​
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 thereunto duly authorized.
​
​
THE MICHAELS COMPANIES, INC.
​
​
​
​
​
​
​
​
By:
​
/s/ Navin Rao
​
Name:
​
Navin Rao
​
Title:
​
Vice President and Secretary
Date: October 31, 2019
​
​