Target Announces Voting Results from 2018 Annual Meeting of Shareholders

Target Corporation (NYSE:TGT) today announced voting results from its 2018 Annual Meeting of Shareholders. Shareholders elected 12 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 on June 13, 2018. The final tabulation indicates that approximately 481 million shares were voted, representing 89.8 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                96.5                             3.5

  Douglas M. Baker, Jr.           98.3                             1.7

  Brian C. Cornell                    96.3                             3.7

  Calvin Darden                       97.6                             2.4

  Henrique De Castro              99.5                             0.5

  Robert L. Edwards                99.3                             0.7

  Melanie L. Healy                  99.1                             0.9

  Donald R. Knauss                 99.2                             0.8

  Monica C. Lozano                99.5                             0.5

  Mary E. Minnick                  97.1                             2.9

  Kenneth L. Salazar               98.9                             1.1

  Dmitri L. Stockton                99.4                             0.6

 

2. Shareholders ratified the appointment of Ernst & Young LLP as Target’s independent registered accounting firm for fiscal 2017:

Percent

   For                96.1

   Against         3.7

   Abstain         0.3

 

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

                        Percent

   For                94.9

   Against         5.1

 

4. Shareholders did not approve a non-binding shareholder proposal to adopt a policy for an independent chairman:

                        Percent

   For                28.2

   Against         71.0

   Abstain         0.8

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 28.4%.

About Target Corporation
Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,829 stores and at Target.com. Since 1946, Target has given 5 percent of its profit to communities, which today equals millions of dollars 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
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