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Target Corporation Announces 2026 Annual Meeting Voting Results

On June 12, 2026, Target Corporation (NYSE: TGT) made public the outcomes from its highly anticipated 2026 Annual Meeting of Shareholders, which took place on June 10, 2026. This meeting was noteworthy as shareholders participated robustly in key governance decisions concerning the company.

Key Voting Outcomes

During the meeting, shareholders exercised their voting rights to elect all twelve board nominees, ratify the appointment of Ernst & Young LLP as the independent auditor, and approve several significant management proposals.

Election of Board Members

The voting exhibited strong support for the nominated individuals vying for board positions. Notably, David P. Abney received the highest backing with 97.5% of votes in favor, while Brian C. Cornell garnered 87.2%, emphasizing varying levels of shareholder confidence in different board members:

• - David P. Abney: 97.5% in favor (2.5% against)
• - Gail K. Boudreaux: 97.0% in favor (3.0% against)
• - Michael J. Fiddelke: 99.1% in favor (0.9% against)
• - Brian C. Cornell: 87.2% in favor (12.8% against)

Likewise, the results for other nominees reflected a concerted effort from shareholders to maintain a steady leadership structure, with all twelve members successfully elected for a one-year term.

Ratification of Independent Auditors

The shareholders also ratified the appointment of Ernst & Young LLP for the fiscal year 2026, with a significant majority of 93.5% supporting the move. Such decisions are pivotal in ensuring the integrity of the financial oversight processes.

Approval of Compensation Proposals

One of the hotly debated topics at the meeting was the advisory “Say on Pay” management proposal. With a favorable vote of 89.0%, shareholders expressed their approval of the executive compensation plans in place, suggesting a robust endorsement of management’s strategic direction.

In addition, the assembly approved the Amended and Restated Long-Term Incentive Plan, with an impressive 95.0% majority supporting this long-term approach to executive compensation and incentives, further reflecting shareholders’ dedication to aligning their interests with those of the board.

Rejection of Shareholder Proposals

However, not all shareholder motions met with approval. Proposals requesting the Board Chair to be an independent director, along with calls for reports on the presence of pesticides in private label brands and plastic microfiber shedding, were overwhelmingly rejected. For instance, the proposal for independent board chair was voted down by 61.4% against and only 38.1% in favor.

The rejection of these proposals indicates shareholders' inclination towards maintaining current operational practices without stringent additional regulations. This showcases a distinctly proactive approach to corporate governance, prioritizing stability and growth over potential operational modifications.

Summary of Shareholder Engagement

The Annual Meeting concluded with a total of 392,543,988 shares participating in the voting process, which accounted for roughly 86.4% of Target's outstanding shares. Such high engagement reflects shareholders' keen interest in corporate governance and the strategic direction of Target Corporation.

The outcomes of the 2026 Annual Meeting of Shareholders highlight a strong endorsement of Target’s current board and its strategic initiatives, setting a solid foundation for the fiscal year ahead. As the company continues to navigate the retail landscape, it remains crucial for shareholders to engage actively and influence corporate policy and governance.

About Target Corporation:
Target Corporation combines style, design, and value, providing an expansive selection and enhanced shopping experience across its more than 2,000 stores in the United States and online. With a dedicated workforce of over 400,000 team members, Target services millions of families weekly while investing in community growth and opportunities for all.