Target Corporation filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders
$TGT
Department/Specialty Retail Stores
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 11, 2025
(Exact name of registrant as specified in its charter)
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Registrant’s telephone number, including area code: (612) 304-6073
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Item 5.07 Submission of Matters to a Vote of Security Holders.
On June 11, 2025, Target Corporation (the “Company”) held its 2025 Annual Meeting of Shareholders (the “Annual Meeting”). At the Annual Meeting, the Company's shareholders voted on the four proposals described below.
The final voting results, including the votes used to determine the results for each proposal under the applicable approval standard (as indicated by the borders), are set forth below.
1.The shareholders elected twelve nominees as directors for a one-year term:
| For | Against | Broker | ||||||||||||||||||||||||||||||||||||||||||
| Nominee | Shares | % | Shares | % | Abstain | Non-Votes | ||||||||||||||||||||||||||||||||||||||
David P. Abney | 324,236,477 | 99.3 | 2,445,557 | 0.7 | 3,232,183 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Douglas M. Baker, Jr. | 316,917,684 | 97.0 | 9,766,423 | 3.0 | 3,230,110 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| George S. Barrett | 316,171,613 | 96.8 | 10,554,905 | 3.2 | 3,187,699 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
Gail K. Boudreaux | 324,064,138 | 99.2 | 2,656,437 | 0.8 | 3,193,642 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Brian C. Cornell | 296,138,654 | 91.0 | 29,409,732 | 9.0 | 4,365,831 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Robert L. Edwards | 323,495,310 | 99.0 | 3,223,142 | 1.0 | 3,195,765 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Donald R. Knauss | 322,806,791 | 98.8 | 3,854,478 | 1.2 | 3,252,948 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Christine A. Leahy | 314,634,737 | 96.4 | 11,901,521 | 3.6 | 3,377,959 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Monica C. Lozano | 314,455,361 | 96.3 | 12,095,477 | 3.7 | 3,363,379 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Grace Puma | 324,797,771 | 99.4 | 1,938,997 | 0.6 | 3,177,449 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Derica W. Rice | 314,566,337 | 96.3 | 12,123,757 | 3.7 | 3,224,123 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
| Dmitri L. Stockton | 311,640,215 | 95.5 | 14,849,612 | 4.5 | 3,424,390 | 61,295,138 | ||||||||||||||||||||||||||||||||||||||
2.The shareholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for fiscal 2025:
| For: | Shares | 365,039,029 | ||||||||||||
| % | 93.3 | |||||||||||||
| Against: | Shares | 24,995,761 | ||||||||||||
| % | 6.4 | |||||||||||||
| Abstain: | Shares | 1,174,565 | ||||||||||||
| % | 0.3 | |||||||||||||
3.The shareholders approved, on an advisory basis, the Company's executive compensation:
| For: | Shares | 302,870,549 | ||||||||||||
| % | 92.2 | |||||||||||||
| Against: | Shares | 25,596,441 | ||||||||||||
| % | 7.8 | |||||||||||||
| Abstain: | Shares | 1,447,227 | ||||||||||||
| Broker Non-Votes: | Shares | 61,295,138 | ||||||||||||
4.The shareholders did not approve a shareholder proposal requesting a report on how affirmative action initiatives impact Target's risks related to actual and perceived discrimination:
| For: | Shares | 23,337,004 | ||||||||||||
| % | 7.1 | |||||||||||||
| Against: | Shares | 302,031,470 | ||||||||||||
| % | 91.5 | |||||||||||||
| Abstain: | Shares | 4,545,743 | ||||||||||||
| % | 1.4 | |||||||||||||
| Broker Non-Votes: | Shares | 61,295,138 | ||||||||||||
For purposes of determining the level of support needed for a shareholder to be eligible to resubmit a shareholder proposal in a following year under Rule 14a-8 under the Securities Exchange Act of 1934, as amended, the Securities and Exchange Commission uses a simple majority standard that compares votes cast “For” to votes cast “Against” an item (which gives abstentions “No effect”). Under that simple majority standard, Item 4 received support of 7.2%.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TARGET CORPORATION | |||||
| Date: June 13, 2025 | /s/ David L. Donlin | ||||
| Name: David L. Donlin | |||||
| Title: Vice President, Corporate Secretary and Interim General Counsel | |||||