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Target 8-K 2015

Documents found in this filing:

  1. 8-K
  2. Ex-10.Jj
  3. Ex-10.Jj

 

 

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 10, 2015

 

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 10, 2015, Target Corporation (the “Company”) held its 2015 Annual Meeting of Shareholders (the “Annual Meeting”), at which the Company’s shareholders approved the Amended and Restated Target Corporation 2011 Long-Term Incentive Plan (the “2015 Restatement”).  The full text of the 2015 Restatement is attached as hereto as Exhibit (10)JJ, and is incorporated herein by reference.

 

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

 

On June 10, 2015, the Company held its Annual Meeting to:  (1) elect directors for a one-year term; (2) ratify the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm; (3) approve, on an advisory basis, the Company’s executive compensation; (4) approve the Amended and Restated Target Corporation 2011 Long-Term Incentive Plan; (5) vote on a shareholder proposal to adopt a policy for an independent chairman; and (6) vote on a shareholder proposal to adopt a policy prohibiting discrimination “against” or “for” persons.

 

At the close of business on April 13, 2015, the record date of the Annual Meeting, the Company had 639,121,710 shares of common stock issued and outstanding.  The holders of a total of 581,181,505 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 as directors for a one-year term:

 

 

 

 

For

 

Against

 

 

 

 

Broker

 

Nominee

 

 

Shares

 

%

 

Shares

 

%

 

 

Abstain

 

Non-Votes

 

Roxanne S. Austin

 

 

491,921,336

 

95.7

 

22,074,421

 

4.3

 

 

3,010,569

 

64,175,179

 

Douglas M. Baker, Jr.

 

 

495,638,262

 

96.5

 

18,207,176

 

3.5

 

 

3,160,888

 

64,175,179

 

Brian C. Cornell

 

 

493,825,798

 

96.7

 

16,847,063

 

3.3

 

 

6,333,465

 

64,175,179

 

Calvin Darden

 

 

501,801,654

 

97.7

 

11,982,981

 

2.3

 

 

3,221,691

 

64,175,179

 

Henrique De Castro

 

 

507,271,160

 

98.7

 

6,558,958

 

1.3

 

 

3,176,208

 

64,175,179

 

Mary E. Minnick

 

 

507,460,633

 

98.8

 

6,394,975

 

1.2

 

 

3,150,718

 

64,175,179

 

Anne M. Mulcahy

 

 

482,866,633

 

94.0

 

31,087,507

 

6.0

 

 

3,052,186

 

64,175,179

 

Derica W. Rice

 

 

509,557,419

 

99.2

 

4,300,753

 

0.8

 

 

3,148,154

 

64,175,179

 

Kenneth L. Salazar

 

 

504,980,557

 

98.3

 

8,897,754

 

1.7

 

 

3,128,015

 

64,175,179

 

John G. Stumpf

 

 

494,533,000

 

96.3

 

19,212,246

 

3.7

 

 

3,261,080

 

64,175,179

 

 

2.                                      The shareholders ratified the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for fiscal 2015:

 

For:

 

Shares

 

572,352,882

 

 

%

 

98.5

Against:

 

Shares

 

5,667,225

 

 

%

 

1.0

Abstain:

 

Shares

 

3,161,398

 

 

%

 

0.5

 

2



 

3.                                      The shareholders approved, on an advisory basis, the Company’s executive compensation:

 

For:

 

Shares

 

495,384,597

 

 

%

 

96.6

Against:

 

Shares

 

17,228,825

 

 

%

 

3.4

Abstain:

 

Shares

 

4,392,904

Broker Non-Votes:

 

Shares

 

64,175,179

 

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

 

For:

 

Shares

 

491,932,980

 

 

%

 

95.2

Against:

 

Shares

 

20,760,070

 

 

%

 

4.0

Abstain:

 

Shares

 

4,313,276

 

 

%

 

0.8

Broker Non-Votes:

 

Shares

 

64,175,179

 

5.                                      The shareholders did not approve a shareholder proposal to adopt a policy for an independent chairman:

 

For:

 

Shares

 

194,666,901

 

 

%

 

37.7

Against:

 

Shares

 

317,752,104

 

 

%

 

61.5

Abstain:

 

Shares

 

4,587,321

 

 

%

 

0.9

Broker Non-Votes:

 

Shares

 

64,175,179

 

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

 

For:

 

Shares

 

14,777,768

 

 

%

 

2.9

Against:

 

Shares

 

426,125,045

 

 

%

 

82.4

Abstain:

 

Shares

 

76,103,513

 

 

%

 

14.7

Broker Non-Votes:

 

Shares

 

64,175,179

 

3



 

Item 9.01.                                        Financial Statements and Exhibits.

 

(d)                                 Exhibits.

 

(10)JJ                Amended and Restated Target Corporation 2011 Long-Term Incentive Plan.

 

4



 

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 12, 2015

/s/ Timothy R. Baer

 

Timothy R. Baer

 

Executive Vice President, Chief Legal Officer

 

and Corporate Secretary

 

5



 

EXHIBIT INDEX

 

Exhibit

 

Description

 

Method
of Filing

(10)JJ

 

Amended and Restated Target Corporation 2011 Long-Term Incentive Plan.

 

Filed Electronically

 

6


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