Target (NYSE: TGT) executive Brian Cornell sells 50,000 shares via trust

Rhea-AI Filing Summary

TARGET CORP executive Brian C. Cornell reported open-market sales of a total of 50,000 shares of Common Stock on May 27, 2026, executed indirectly through a trust. The trades were recorded at volume-weighted average prices of $130.5459 and $129.8383 per share, with actual prices ranging from $129.45 to $130.61 according to the footnotes.

After these sales, the trust-related line items showed holdings of 193,270 and 194,270 shares, while Cornell also directly owned 133,506 shares and held 495.9387 shares in the Target Corporation 401(k) Plan as of March 31, 2026. A footnote notes that 46,817 of the trust shares were previously reported as directly owned and were transferred to a revocable living trust in which Cornell has a beneficial interest.

Insights

Equity analyst

Cornell sold 50,000 Target shares indirectly but retains a sizable stake.

Brian C. Cornell, an executive of Target Corp, reported open-market sales totaling 50,000 shares of Common Stock on May 27, 2026, executed indirectly through a trust. The transactions used volume-weighted average prices of $130.5459 and $129.8383 per share within narrow trading ranges.

These are straightforward open-market sales, not option exercises or tax withholdings, so they reflect an active disposition decision. However, the filing also shows substantial remaining holdings: trust positions of 193,270 and 194,270 shares, direct ownership of 133,506 shares, and 401(k) plan holdings of 495.9387 shares as of March 31, 2026.

The proportionality suggests Cornell continues to have significant exposure to Target equity even after these sales. Future Form 4 filings may further clarify whether this is a one-time liquidity event or part of an ongoing selling pattern, but this single filing alone does not clearly change the broad investment picture.

Insider Trade Summary

Net Seller: 50,000 shares ($6,492,623)

Net Sell 4 txns

Insider Cornell Brian C

Role Executive Officer

Sold 50,000 shs ($6.49M)

Type	Security	Shares	Price	Value
Sale	Common Stock	49,000	$129.8383	$6.36M
Sale	Common Stock	1,000	$130.5459	$131K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 194,270 shares (Indirect, By Trust); Common Stock — 133,506 shares (Direct, null)

Footnotes (1)

1. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date within a one dollar range. Actual prices ranged from $129.4500 to $130.4200. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. Includes 46,817 shares previously reported as directly owned but transferred by the reporting person to a revocable living trust, of which the reporting person and his spouse are trustees and in which the reporting person has a beneficial interest. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date within a one dollar range. Actual prices ranged from $130.4800 to $130.6100. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price. Shares held in the Target Corporation 401(k) Plan based on the plan statement as of March 31, 2026.

Key Figures

Total shares sold: 50,000 shares VWAP sale price 1: $130.5459 per share VWAP sale price 2: $129.8383 per share +4 more

7 metrics

Total shares sold 50,000 shares Open-market sales of Target common stock on May 27, 2026

VWAP sale price 1 $130.5459 per share Volume-weighted average price for one sale tranche; actual trades $130.48–$130.61

VWAP sale price 2 $129.8383 per share Volume-weighted average price for another sale tranche; actual trades $129.45–$130.42

Direct holdings after transactions 133,506 shares Common Stock held directly by Brian C. Cornell following reported trades

Trust holdings after transactions 193,270 and 194,270 shares Common Stock reported as indirectly owned “By Trust” after sales

401(k) Plan holdings 495.9387 shares Shares held in Target Corporation 401(k) Plan as of March 31, 2026

Transferred to revocable trust 46,817 shares Previously direct holdings moved into revocable living trust with beneficial interest

Key Terms

open-market sale, volume weighted average selling price, revocable living trust, beneficial interest, +1 more

5 terms

open-market sale financial

"transaction_action is described as an open-market sale of common stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

volume weighted average selling price financial

"Price is the volume weighted average selling price of all sales"

revocable living trust financial

"transferred by the reporting person to a revocable living trust"

beneficial interest financial

"in which the reporting person has a beneficial interest"

Beneficial interest is the right to receive the economic benefits of an asset—such as dividends, interest, or sale proceeds—without necessarily holding legal title to it. For investors this matters because it determines who actually gains from an investment or trust, much like renting an apartment where the tenant enjoys living there and paying bills while the landlord holds the deed; understanding who has the beneficial interest affects income rights, voting influence, and risk exposure.

Target Corporation 401(k) Plan financial

"Shares held in the Target Corporation 401(k) Plan based on the plan statement"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cornell Brian C

(Last) (First) (Middle)

1000 NICOLLET MALL

(Street)

MINNEAPOLIS MINNESOTA 55403

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TARGET CORP [ TGT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/27/2026		S		49,000	D	$129.8383(1)	194,270(2)	I	By Trust
Common Stock	05/27/2026		S		1,000	D	$130.5459(3)	193,270	I	By Trust
Common Stock								133,506	D
Common Stock								495.9387(4)	I	By 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date within a one dollar range. Actual prices ranged from $129.4500 to $130.4200. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

2. Includes 46,817 shares previously reported as directly owned but transferred by the reporting person to a revocable living trust, of which the reporting person and his spouse are trustees and in which the reporting person has a beneficial interest.

3. Price is the volume weighted average selling price of all sales by the reporting person on the transaction date within a one dollar range. Actual prices ranged from $130.4800 to $130.6100. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

4. Shares held in the Target Corporation 401(k) Plan based on the plan statement as of March 31, 2026.

Remarks:

	Miranda S. Hirner, Attorney-In-Fact	05/28/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

How many Target Corp (TGT) shares did Brian Cornell sell in this Form 4?

Brian C. Cornell reported selling a total of 50,000 Target Corp common shares on May 27, 2026. The sales were executed in the open market through an indirectly held trust at volume-weighted average prices around $130 per share, within narrow price ranges.

At what prices were Brian Cornell’s Target (TGT) share sales executed?

The filing reports volume-weighted average sale prices of $130.5459 and $129.8383 per share. Footnotes explain actual trade prices ranged from $129.45 to $130.61, and Cornell undertakes to provide detailed price breakdowns upon request to eligible parties.

Were Brian Cornell’s Target (TGT) share sales direct or through an entity?

The 50,000 Target shares were sold indirectly through a trust, noted as “By Trust” in the ownership field. A separate footnote states 46,817 shares were previously reported as directly owned but transferred into a revocable living trust where Cornell and his spouse serve as trustees.

How many Target (TGT) shares does Brian Cornell still hold after these sales?

After the reported sales, trust line items show 193,270 and 194,270 Target shares, with 133,506 shares held directly. The filing also notes 495.9387 shares in the Target Corporation 401(k) Plan based on the plan statement as of March 31, 2026.

What does the Target (TGT) Form 4 say about Brian Cornell’s 401(k) holdings?

The Form 4 discloses that Brian Cornell holds 495.9387 Target shares in the Target Corporation 401(k) Plan. This figure is based on the plan statement as of March 31, 2026, and is reported as an indirect ownership position separate from his direct and trust holdings.

Does the Target (TGT) Form 4 involve any stock option exercises or derivatives?

No derivative transactions are reported in this Form 4; the derivativeSummary is empty. All listed trades involve Target common stock, and the transaction codes show open-market sales only, with no option exercises, conversions, gifts, or tax-withholding-related share movements disclosed.