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 13, 2012

 

Target Corporation

(Exact name of registrant as specified in its charter)

 

Minnesota

 

1-6049

 

41-0215170

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(I.R.S. Employer Identification Shares)

 

1000 Nicollet Mall, Minneapolis, Minnesota 55403

(Address of principal executive offices, including zip code)

 

(612) 304-6073

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 5.02.                                          Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On June 13, 2012, Target Corporation (the “Company”) held its 2012 Annual Meeting of Shareholders (the “Annual Meeting”), at which our shareholders approved the Target Corporation Officer Short-Term Incentive Plan (the “Plan”).  The full text of the Plan is attached as Appendix A to the Company’s definitive proxy statement on Schedule 14A filed with the SEC on April 30, 2012, and is incorporated herein by reference.

 

Item 5.07.                                          Submission of Matters to a Vote of Shareholders.

 

On June 13, 2012, Target Corporation held its 2012 Annual Meeting of Shareholders to:  (1) elect directors for a one-year term; (2) ratify the appointment of Ernst & Young LLP as the Company’s independent registered accounting firm; (3) approve the Target Corporation Officer Short-Term Incentive Plan; (4) approve, on an advisory basis, the Company’s executive compensation; (5) vote on a shareholder proposal on electronics recycling; and (6) vote on a shareholder proposal on prohibiting use of corporate funds for political elections or campaigns.

 

At the close of business on April 16, 2012, the record date of the Annual Meeting, the Company had 662,001,328 shares of common stock issued and outstanding.  The holders of a total of 583,482,642 shares of common stock were present at the Annual Meeting, either in person or by proxy, which total constituted a majority of the issued and outstanding shares on the record date for the Annual Meeting.

 

The final voting results and the votes used to determine the results for each proposal (as indicated by the borders) are set forth below:

 

1.               The shareholders elected each of the following nominees for a one-year term:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For

 

Against

 

 

 

Broker

 

Nominee

 

 

Shares

 

%

 

Shares

 

%

 

Abstain

 

Non-Votes

 

Roxanne S. Austin

 

 

511,699,572

 

99.1

 

4,720,112

 

0.9

 

7,248,810

 

59,814,148

 

Calvin Darden

 

 

511,135,034

 

98.4

 

8,365,017

 

1.6

 

4,168,443

 

59,814,148

 

Mary N. Dillon

 

 

511,818,660

 

98.5

 

7,947,288

 

1.5

 

3,902,546

 

59,814,148

 

James A. Johnson

 

 

420,654,778

 

89.9

 

47,225,617

 

10.1

 

55,788,099

 

59,814,148

 

Mary E. Minnick

 

 

517,191,019

 

99.3

 

3,404,216

 

0.7

 

3,073,259

 

59,814,148

 

Anne M. Mulcahy

 

 

437,693,391

 

92.3

 

36,503,721

 

7.7

 

49,471,382

 

59,814,148

 

Derica W. Rice

 

 

516,236,659

 

99.2

 

4,266,990

 

0.8

 

3,164,845

 

59,814,148

 

Stephen W. Sanger

 

 

508,778,699

 

98.5

 

7,737,291

 

1.5

 

7,152,504

 

59,814,148

 

Gregg W. Steinhafel

 

 

505,809,497

 

99.0

 

5,242,039

 

1.0

 

12,616,958

 

59,814,148

 

John G. Stumpf

 

 

505,972,241

 

97.7

 

11,982,621

 

2.3

 

5,713,632

 

59,814,148

 

Solomon D. Trujillo

 

 

512,862,389

 

99.1

 

4,693,075

 

0.9

 

6,113,030

 

59,814,148

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.                                       The shareholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered accounting firm for 2012:

 

For:

 

Shares

 

574,096,487

 

 

%

 

98.4

Against:

 

Shares

 

6,817,427

 

 

%

 

1.2

Abstain:

 

Shares

 

2,568,728

 

 

%

 

0.4

 

2



 

3.                                       The shareholders approved the Target Corporation Officer Short-Term Incentive Plan:

 

For:

 

Shares

 

497,102,305

 

 

%

 

94.9

Against:

 

Shares

 

22,416,277

 

 

%

 

4.3

Abstain:

 

Shares

 

4,149,912

 

 

%

 

0.8

Broker Non-Votes:

 

Shares

 

59,814,148

 

4.                                       The shareholders approved, on an advisory basis, our executive compensation:

 

For:

 

Shares

 

432,090,313

 

 

%

 

83.9

Against:

 

Shares

 

83,167,867

 

 

%

 

16.1

Abstain:

 

Shares

 

8,410,314

Broker Non-Votes:

 

Shares

 

59,814,148

 

5.                                       The shareholders did not approve a shareholder proposal on electronics recycling:

 

For:

 

Shares

 

36,515,998

 

 

%

 

7.0

Against:

 

Shares

 

390,746,006

 

 

%

 

74.6

Abstain:

 

Shares

 

96,406,490

 

 

%

 

18.4

Broker Non-Votes:

 

Shares

 

59,814,148

 

6.                                       The shareholders did not approve a shareholder proposal on prohibiting use of corporate funds for political elections or campaigns:

 

For:

 

Shares

 

24,110,105

 

 

%

 

4.6

Against:

 

Shares

 

424,903,914

 

 

%

 

81.1

Abstain:

 

Shares

 

74,654,475

 

 

%

 

14.3

Broker Non-Votes:

 

Shares

 

59,814,148

 

3



 

Item 9.01.                                          Financial Statements and Exhibits.

 

(d)                                  Exhibits.

 

(10)AA

 

Target Corporation Officer Short-Term Incentive Plan (Incorporated by reference to Appendix A to the Target Corporation Proxy Statement filed April 30, 2012).

 

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 15, 2012

/s/ Timothy R. Baer

 

Timothy R. Baer

 

Executive Vice President, General Counsel

 

and Corporate Secretary

 

4



 

EXHIBIT INDEX

 

Exhibit

 

Description

 

Method
of Filing

 

 

 

 

 

 

 

(10)AA

 

Target Corporation Officer Short-Term Incentive Plan.

 

Incorporated by Reference

 

 

5