Ownership Submission
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, Section 17(a) of the Public Utility Holding Company Act of 1935 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 *
  Blackstone Management Associates V L.L.C.
2. Date of Event Requiring Statement (Month/Day/Year)
06/26/2014
3. Issuer Name and Ticker or Trading Symbol
Michaels Companies, Inc. [MIK]
(Last)
(First)
(Middle)
C/O THE BLACKSTONE GROUP, 345 PARK AVENUE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10154
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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 61,499,301
I
See Footnotes (1) (7) (9) (11) (12) (13)
Common Stock 14,065,576
I
See Footnotes (2) (7) (9) (11) (12) (13)
Common Stock 880,838
I
See Footnotes (3) (8) (9) (11) (12) (13)
Common Stock 186,965
I
See Footnotes (4) (8) (9) (11) (12) (13)
Common Stock 2,742,216
I
See Footnotes (5) (7) (9) (11) (12) (13)
Common Stock 2,080,734
I
See Footnotes (6) (10) (11) (12) (13)

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

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Blackstone Management Associates V L.L.C.
C/O THE BLACKSTONE GROUP
345 PARK AVENUE
NEW YORK, NY 10154
    X    
BCP V-S L P
345 PARK AVE
NEW YORK, NY 10154
    X    
Blackstone Family Investment Partnership V L.P.
C/O THE BLACKSTONE GROUP
345 PARK AVENUE
NEW YORK, NY 10154
    X    
Blackstone Participation Partnership V L.P.
C/O THE BLACKSTONE GROUP
345 PARK AVENUE
NEW YORK, NY 10154
    X    
BLACKSTONE FAMILY INVESTMENT PARTNERSHIP V-SMD L.P.
CO/ THE BLACKSTONE GROUP L.P.
345 PARK AVENUE
NEW YORK, NY 10154
    X    
BCP V CO-INVESTORS L.P.
CO/ THE BLACKSTONE GROUP L.P.
345 PARK AVENUE
NEW YORK, NY 10154
    X    
BLACKSTONE CAPITAL PARTNERS V L P
345 PARK AVE
NEW YORK, NY 10154
    X    

Signatures

BLACKSTONE CAPITAL PARTNERS V L.P. By: Blackstone Management Associates V L.L.C., its general partner By: BMA V L.L.C., its sole member By: /s/ John G. Finley Name: John G. Finley Title: Chief Legal Officer 06/26/2014
**Signature of Reporting Person Date

BCP V-S L.P. By: Blackstone Management Associates V L.L.C., its general partner By: BMA V L.L.C., its sole member By: /s/ John G. Finley Name: John G. Finley Title: Chief Legal Officer 06/26/2014
**Signature of Reporting Person Date

BLACKSTONE FAMILY INVESTMENT PARTNERSHIP V L.P. By: BCP V Side-by-Side GP L.L.C., its general partner By: /s/ John G. Finley Name: John G. Finley Title: Chief Legal Officer 06/26/2014
**Signature of Reporting Person Date

BLACKSTONE PARTICIPATION PARTNERSHIP V L.P. By: BCP V Side-by-Side GP L.L.C., its general partner By: /s/ John G. Finley Name: John G. Finley Title: Chief Legal Officer 06/26/2014
**Signature of Reporting Person Date

BLACKSTONE FAMILY INVESTMENT PARTNERSHIP V-SMD L.P. By: Blackstone Family GP L.L.C., its general partner By: /s/ John G. Finley Name: John G. Finley Title: Chief Legal Officer 06/26/2014
**Signature of Reporting Person Date

BCP V CO-INVESTORS L.P. By: Blackstone Management Associates V L.L.C., its general partner By: BMA V L.L.C., its sole member By: /s/ John G. Finley Name: John G. Finley Title: Chief Legal Officer 06/26/2014
**Signature of Reporting Person Date

BLACKSTONE MANAGEMENT ASSOCIATES V L.L.C. By: BMA V L.L.C., its sole member By: /s/ John G. Finley Name: John G. Finley Title: Chief Legal Officer 06/26/2014
**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) These securities are directly held by Blackstone Capital Partners V L.P.
(2) These securities are directly held by BCP V-S L.P.
(3) These securities are directly held by Blackstone Family Investment Partnership V L.P.
(4) These securities are directly held by Blackstone Participation Partnership V L.P.
(5) These securities are directly held by BCP V Co-Investors L.P.
(6) These securities are directly held by Blackstone Family Investment Partnership V-SMD L.P. (Blackstone Family Investment Partnership V-SMD L.P., together with Blackstone Capital Partners V L.P., BCP V-S L.P., Blackstone Family Investment Partnership V L.P., Blackstone Participation Partnership V L.P. and BCP V Co-Investors L.P., the "Blackstone Funds").
(7) The general partner of Blackstone Capital Partners V L.P., BCP V-S L.P. and BCP V Co-Investors L.P. is Blackstone Management Associates V L.L.C. BMA V L.L.C. is the sole member of Blackstone Management Associates V L.L.C.
(8) The general partner of Blackstone Family Investment Partnership V L.P. and Blackstone Participation Partnership V L.P. is BCP V Side-by-Side GP L.L.C.
(9) Blackstone Holdings III L.P. is the sole member of BCP V Side-by-Side GP L.L.C. and the managing member and majority in interest owner of BMA V L.L.C. The general partner of Blackstone Holdings III L.P.is Blackstone Holdings III GP L.P. The general partner of Blackstone Holdings III GP L.P. is Blackstone Holdings III GP Management L.L.C. The sole member of Blackstone Holdings III GP Management L.L.C. is The Blackstone Group L.P. The general partner of The Blackstone Group L.P. is Blackstone Group Management L.L.C. Blackstone Group Management L.L.C. is wholly-owned by Blackstone's senior managing directors and controlled by its founder, Stephen A. Schwarzman.
(10) The general partner of Blackstone Family Investment Partnership V-SMD L.P. is Blackstone Family GP L.L.C. Blackstone Family GP L.L.C. is wholly owned by Blackstone's senior managing directors and controlled by its founder, Mr. Schwarzman.
(11) Information with respect to each of the Reporting Persons is given solely by such Reporting Person, and no Reporting Person has responsibility for the accuracy or completeness of information supplied by another Reporting Person.
(12) Each of the Reporting Persons (other than each of the Blackstone Funds to the extent they directly hold securities reported herein), disclaims beneficial ownership of the securities held by the Blackstone Funds, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, each of the Reporting Persons (other than each of the Blackstone Funds to the extent they directly hold securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
(13) Due to the limitations of the electronic filing system, BMA V L.L.C., BCP V Side-By-Side GP L.L.C., Blackstone Family GP L.L.C., Blackstone Holdings III L.P., Blackstone Holdings III GP L.P., Blackstone Holdings III GP Management L.L.C., The Blackstone Group L.P., Blackstone Group Management L.L.C. and Stephen A. Schwarzman have filed a separate Form 3.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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