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) January 4, 2016

 

 

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 No.)

 

 

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:

 

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

 

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

 

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

 

[ ] 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 January 4, 2016, Target Corporation announced that Tina M. Tyler, Executive Vice President and Chief Stores Officer, will cease to be an executive officer of the company immediately.  Ms. Tyler will be eligible for severance payments under Target’s Income Continuance Policy upon termination of her employment effective January 9, 2016.  As a condition to severance payment eligibility, Ms. Tyler will be required to sign an agreement that includes a non-solicitation clause and a release of claims.  In addition, if Ms. Tyler agrees to a three-year non-compete and non-solicitation restriction, she will be eligible for an additional $3 million of cash payments that will be payable in three annual installments.

 



 

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: January 4, 2016

/s/ Timothy R. Baer

 

 

Timothy R. Baer

 

Executive Vice President, Chief Legal Officer and Corporate Secretary