Target (NYSE: TGT) executive receives 11,250-share award; 5,131 withheld

Q: How many Target (TGT) shares were granted to Michael J. Fiddelke?

He was granted 11,250 shares of Target common stock on April 7, 2026. The award arose from settlement of a performance share unit grant under Target’s 2020 Long-Term Incentive Plan and represents part of his long-term compensation.

Q: Why were 5,131 Target (TGT) shares disposed of in this filing?

The disposition of 5,131 shares at $120.76 was for tax withholding. Shares were withheld to satisfy Fiddelke’s tax obligation upon settlement of the performance share unit award, rather than sold as a discretionary open-market transaction.

Q: Was this Target (TGT) Form 4 a market purchase or sale by the executive?

No, the Form 4 reflects compensation and tax withholding , not an open-market trade. Shares were acquired through a performance share unit settlement and some shares were withheld to cover taxes, a common non-market mechanism for equity awards.

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Target Corporation executive Michael J. Fiddelke reported routine equity compensation activity. He acquired 11,250 shares of Target common stock on April 7, 2026 at a stated price of $0.00 per share, reflecting the settlement of a performance share unit award under the Target Corporation 2020 Long-Term Incentive Plan.

On the same date, 5,131 shares were disposed of at $120.76 per share to satisfy the related tax withholding obligation. After these transactions, Fiddelke directly owned 124,790 shares of Target common stock. The filing reflects compensation and tax withholding mechanics rather than open-market buying or selling.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider FIDDELKE MICHAEL J

Role Executive Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	11,250	$0.00	--
Tax Withholding	Common Stock	5,131	$120.76	$620K

Holdings After Transaction: Common Stock — 129,921 shares (Direct)

Footnotes (1)

Acquired pursuant to the settlement of a performance share unit award granted under the Target Corporation 2020 Long-Term Incentive Plan. Withholding of stock to satisfy tax withholding obligation on settlement of performance share unit award referenced in footnote (1).

Key Figures

PSU settlement shares: 11,250 shares Shares withheld for taxes: 5,131 shares at $120.76 Shares owned after transactions: 124,790 shares

3 metrics

PSU settlement shares 11,250 shares Common Stock acquired on April 7, 2026 via performance share unit award

Shares withheld for taxes 5,131 shares at $120.76 Common Stock disposed to satisfy tax withholding obligation

Shares owned after transactions 124,790 shares Directly owned Target common stock following April 7, 2026 activity

Key Terms

performance share unit award, tax withholding obligation, Long-Term Incentive Plan

3 terms

tax withholding obligation financial

"Withholding of stock to satisfy tax withholding obligation on settlement of performance share unit award referenced in footnote (1)."

Long-Term Incentive Plan financial

"granted under the Target Corporation 2020 Long-Term Incentive Plan."

A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.

Form 4 Insider Transactions: What Each Field Means →

04/09/2026 - 04:23 PM

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^*

FIDDELKE MICHAEL J

(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)

	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)
04/07/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/07/2026		A⁽¹⁾		11,250	A	$0	129,921	D
Common Stock	04/07/2026		F⁽²⁾		5,131	D	$120.76	124,790	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Acquired pursuant to the settlement of a performance share unit award granted under the Target Corporation 2020 Long-Term Incentive Plan.

2. Withholding of stock to satisfy tax withholding obligation on settlement of performance share unit award referenced in footnote (1).

Remarks:

	Miranda S. Hirner, Attorney-In-Fact	04/09/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Target (TGT) executive Michael J. Fiddelke report in this Form 4?

Michael J. Fiddelke reported equity compensation activity, not open-market trading. He received 11,250 shares of Target common stock from a performance share unit settlement and had a portion withheld for taxes, updating his directly owned share balance.

How many Target (TGT) shares were granted to Michael J. Fiddelke?

He was granted 11,250 shares of Target common stock on April 7, 2026. The award arose from settlement of a performance share unit grant under Target’s 2020 Long-Term Incentive Plan and represents part of his long-term compensation.

Why were 5,131 Target (TGT) shares disposed of in this filing?

The disposition of 5,131 shares at $120.76 was for tax withholding. Shares were withheld to satisfy Fiddelke’s tax obligation upon settlement of the performance share unit award, rather than sold as a discretionary open-market transaction.

How many Target (TGT) shares does Michael J. Fiddelke own after these transactions?

Following the reported grant and tax withholding, Michael J. Fiddelke directly owns 124,790 shares of Target common stock. This figure reflects his updated direct holdings after the performance share unit settlement and related tax share withholding.

Was this Target (TGT) Form 4 a market purchase or sale by the executive?

No, the Form 4 reflects compensation and tax withholding, not an open-market trade. Shares were acquired through a performance share unit settlement and some shares were withheld to cover taxes, a common non-market mechanism for equity awards.