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Target Announces Voting Results from 2017 Annual Meeting of Shareholders

MINNEAPOLIS--(BUSINESS WIRE)--Jun. 15, 2017-- Target Corporation (NYSE:TGT) today announced voting results from its 2017 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, approved “1 Year” as the recommendation for the frequency of Say on Pay Votes and approved the Target Corporation Executive Officer Cash Incentive Plan.

The Carideo Group, the independent Inspector of Elections, has certified all voting results for the Annual Meeting, held on June 14, 2017. The final tabulation indicates that approximately 494 million shares were voted, representing 89.5 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 94.8 5.2
Douglas M. Baker, Jr. 86.0 14.0
Brian C. Cornell 94.5 5.5
Calvin Darden 97.7 2.3
Henrique De Castro 98.3 1.7
Robert L. Edwards 99.1 0.9
Melanie L. Healy 98.4 1.6
Donald R. Knauss 98.3 1.7
Monica C. Lozano 99.1 0.9
Mary E. Minnick 98.8 1.2
Derica W. Rice 99.0 1.0
Kenneth L. Salazar 98.8 1.2
 

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

   

Percent

For 96.3
Against 3.4
Abstain 0.3
 

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

   

Percent

For 93.9
Against 6.1
 

4. Shareholders approved, on an advisory basis, a frequency of “1 Year” as the recommendation for the frequency of Say on Pay votes:

   

Percent

1 Year 88.7
2 Years 0.5
3 Years 10.8
 

5. Shareholders approved the Target Corporation Executive Officer Cash Incentive Plan:

   

Percent

For 96.0
Against 3.2
Abstain 0.7
 

About Target

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,807 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 Twitter.

Source: Target Corporation

Target Corporation
Investors:
John Hulbert, 612-761-6627
or
Media:
Erin Conroy, 612-761-5928
or
Target Media Hotline, 612-696-3400