Target Announces Voting Results from 2016 Annual Meeting of Shareholders
June 08 2016 - 4:15PM
Business Wire
Target Corporation (NYSE:TGT) today announced voting results
from its 2016 Annual Meeting of Shareholders. Shareholders elected
14 members of the board of directors, ratified the appointment of
Target’s independent registered public accounting firm, approved
the “Say on Pay” management proposal and rejected one shareholder
proposal.
The Carideo Group, the independent Inspector of Elections, has
certified all voting results for the Annual Meeting, held today.
The final tabulation indicates that approximately 536 million
shares were voted, representing 90.0 percent of outstanding
shares.
The final tabulation of votes for each proposal is as
follows:
1. Shareholders elected each of the following board nominees for
a one-year term by a majority of the votes cast:
Nominee
Percent
For
Percent
Against
Roxanne S. Austin 98.4 1.6 Douglas M. Baker, Jr. 95.6 4.4 Brian C.
Cornell 95.8 4.2 Calvin Darden 98.5 1.5 Henrique De Castro 99.2 0.8
Robert L. Edwards 99.4 0.6 Melanie L. Healy 99.4 0.6 Donald R.
Knauss 99.4 0.6 Monica C. Lozano 99.4 0.6 Mary E. Minnick 98.6 1.4
Anne M. Mulcahy 95.7 4.3 Derica W. Rice 99.3 0.7 Kenneth L. Salazar
98.7 1.3 John G. Stumpf 95.6 4.4
2. Shareholders ratified the appointment of Ernst & Young
LLP as Target’s independent registered accounting firm for fiscal
2016:
Percent
For 98.2 Against 1.5 Abstain 0.3
3. Shareholders approved, on a non-binding advisory basis,
Target’s executive compensation (“Say-on-Pay”):
Percent
For 96.4 Against 3.6
4. Shareholders did not approve a shareholder proposal to report
on criteria for selecting countries for operations:
Percent
For 3.2 Against 78.7 Abstain 18.1
For purposes of determining the level of support needed for a
shareholder to be eligible to resubmit a shareholder proposal in a
following year the U.S. Securities and Exchange Commission uses a
simple majority standard. Under that simple majority standard Item
4 received support of 3.8%.
About Target
Minneapolis-based Target Corporation (NYSE:
TGT) serves guests at 1,793 stores and at Target.com. Since 1946,
Target has given 5 percent of its profit to communities, which
today equals more than $4 million a week. For more information,
visit Target.com/Pressroom. For a behind-the-scenes look at Target,
visit Target.com/abullseyeview or follow @TargetNews on
Twitter.
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Target CorporationJohn Hulbert, Investors, 612-761-6627orErin
Conroy, Media, 612-761-5928orTarget Media Hotline, 612-696-3400
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