Target Announces Voting Results from 2016 Annual Meeting of Shareholders

Target Corporation (NYSE:TGT) today announced voting results from its 2016 Annual Meeting of Shareholders. Shareholders elected 14 members of the board of directors, ratified the appointment of Target’s independent registered public accounting firm, approved the “Say on Pay” management proposal and rejected one shareholder proposal.

The Carideo Group, the independent Inspector of Elections, has certified all voting results for the Annual Meeting, held today. The final tabulation indicates that approximately 536 million shares were voted, representing 90.0 percent of outstanding shares.

The final tabulation of votes for each proposal is as follows:

1. Shareholders elected each of the following board nominees for a one-year term by a majority of the votes cast:

  Nominee                              Percent For                 Percent Against

  Roxanne S. Austin              98.4                             1.6

  Douglas M. Baker, Jr.          95.6                             4.4

  Brian C. Cornell                   95.8                             4.2

  Calvin Darden                      98.5                             1.5

  Henrique De Castro             99.2                             0.8

  Robert L. Edwards               99.4                             0.6 

  Melanie L. Healy                  99.4                             0.6

  Donald R. Knauss                99.4                             0.6

  Monica C. Lozano                99.4                             0.6                    

  Mary E. Minnick                  98.6                             1.4

  Anne M. Mulcahy                95.7                             4.3

  Derica W. Rice                     99.3                             0.7

  Kenneth L. Salazar               98.7                             1.3

  John G. Stumpf                     95.6                             4.4

2. Shareholders ratified the appointment of Ernst & Young LLP as Target’s independent registered accounting firm for fiscal 2016:

     Percent

   For                     98.2

   Against              1.5

   Abstain              0.3

3. Shareholders approved, on a non-binding advisory basis, Target’s executive compensation (“Say-on-Pay”):

                        Percent

   For               96.4

   Against        3.6

4. Shareholders did not approve a shareholder proposal to report on criteria for selecting countries for operations:

                        Percent

   For               3.2

   Against        78.7

   Abstain        18.1

For purposes of determining the level of support needed for a shareholder to be eligible to resubmit a shareholder proposal in a following year the U.S. Securities and Exchange Commission uses a simple majority standard. Under that simple majority standard Item 4 received support of 3.8%.

About Target

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,793 stores and at Target.com. Since 1946, Target has given 5 percent of its profit to communities, which today equals more than $4 million a week. For more information, visit Target.com/Pressroom. For a behind-the-scenes look at Target, visit Target.com/abullseyeview or follow @TargetNews on Twitter.

media contact

  • John Hulbert, Investors (612) 761-6627
  • Erin Conroy, Media (612) 761-5928
  • Target Media Hotline (612) 696-3400

media FAQs

find answers to some of the questions we hear most frequently.