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Target Announces Voting Results from 2015 Annual Meeting of Shareholders

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Target Corporation (NYSE:TGT) today announced voting results from its 2015 Annual Meeting of Shareholders. Shareholders elected 10 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 the Amended and Restated Target Corporation 2011 Long-Term Incentive Plan and rejected two shareholder proposals.

The Carideo Group, the independent Inspector of Elections, has certified all voting results for the Annual Meeting, held June 10. The final tabulation indicates that approximately 581 million shares were voted, representing 90.9 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 95.7 4.3
Douglas M. Baker, Jr. 96.5 3.5
Brian C. Cornell 96.7 3.3
Calvin Darden 97.7 2.3
Henrique De Castro 98.7 1.3
Mary E. Minnick 98.8 1.2
Anne M. Mulcahy 94.0 6.0
Derica W. Rice 99.2 0.8
Kenneth L. Salazar 98.3 1.7
John G. Stumpf 96.3 3.7

2. Shareholders ratified the appointment of Ernst & Young LLP as Target’s independent registered accounting firm for fiscal 2015:

Percent

For 98.5
Against 1.0
Abstain 0.5

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

Percent

For 96.6
Against 3.4

4. Shareholders approved the Amended and Restated Target Corporation 2011 Long-Term Incentive Plan:

Percent

For 95.2
Against 4.0
Abstain 0.8

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

Percent

For 37.7
Against 61.5
Abstain 0.9

6. Shareholders did not approve a shareholder proposal to adopt a policy prohibiting discrimination “against” or “for” persons:

Percent

For 2.9
Against 82.4
Abstain 14.7

About Target

Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,795 stores and at Target.com. Since 1946, Target has given 5 percent of its profit to communities, that giving 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.

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