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  4. [Form 4] TARGET CORP Insider Trading Activity

Target (TGT) CAO granted shares, stock withheld to cover taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Target Corp Chief Accounting Officer Matthew A. Liegel received 1,337 shares of Target common stock on settlement of a performance share unit award under the Target Corporation 2020 Long-Term Incentive Plan. To cover related tax obligations, 411 shares were withheld at a value of $120.76 per share.

After these compensation-related entries, Liegel directly holds 13,069 shares of Target common stock. The disposition reflects stock withheld for taxes rather than an open-market sale, making this a routine equity compensation and tax-settlement event.

Positive

  • None.

Negative

  • None.
Insider LIEGEL MATTHEW A
Role Chief Accounting Officer
Type Security Shares Price Value
Grant/Award Common Stock 1,337 $0.00 --
Tax Withholding Common Stock 411 $120.76 $50K
Holdings After Transaction: Common Stock — 13,480 shares (Direct)
Footnotes (1)
  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).
Shares acquired from award 1,337 shares Performance share unit settlement on April 7, 2026
Shares withheld for taxes 411 shares Tax withholding on award settlement
Tax withholding price $120.76 per share Value applied to 411 withheld shares
Shares held after transactions 13,069 shares Direct Target common stock holdings after April 7, 2026
performance share unit award financial
"Acquired pursuant to the settlement of a performance share unit award granted under the Target Corporation 2020 Long-Term Incentive Plan."
Target Corporation 2020 Long-Term Incentive Plan financial
"performance share unit award granted under the Target Corporation 2020 Long-Term Incentive Plan."
tax withholding obligation financial
"Withholding of stock to satisfy tax withholding obligation on settlement of performance share unit award referenced in footnote (1)."
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
LIEGEL MATTHEW A
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Accounting 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)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock04/07/2026A(1)1,337A$013,480D
Common Stock04/07/2026F(2)411D$120.7613,069D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
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-Fact04/09/2026
** Signature of Reporting PersonDate
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 insider transaction did Target (TGT) report for Matthew A. Liegel?

Target reported that Chief Accounting Officer Matthew A. Liegel received 1,337 shares of common stock from settlement of a performance share unit award. This is a compensation-related grant, not an open-market purchase, and forms part of Target’s long-term incentive structure.

Did Matthew A. Liegel sell Target (TGT) shares in this Form 4 filing?

The filing shows no open-market sale by Matthew A. Liegel. Instead, 411 shares were withheld at $120.76 per share solely to satisfy tax obligations upon settlement of a performance share unit award, a standard non-discretionary mechanism for covering associated taxes.

How many Target (TGT) shares does Matthew A. Liegel hold after this transaction?

Following the grant and tax withholding, Matthew A. Liegel directly holds 13,069 shares of Target common stock. This reflects his updated equity position after receiving 1,337 shares from a performance share unit award and having 411 shares withheld to cover related tax liabilities.

What type of equity award did Matthew A. Liegel receive from Target (TGT)?

He received shares pursuant to settlement of a performance share unit award granted under the Target Corporation 2020 Long-Term Incentive Plan. Performance share units typically convert into common stock based on pre-defined performance criteria approved within a company’s long-term incentive framework.

Is the Target (TGT) Form 4 transaction a market signal for investors?

This Form 4 reflects routine compensation and tax withholding activity rather than discretionary trading. The acquired shares come from a performance share unit award, and the disposed shares were withheld for taxes, so it offers limited insight into management’s views on Target’s share price.