Form 4: Target Corp Executive Brian C. Cornell Reports Changes in Beneficial Ownership

Executive Officer Brian C. Cornell reports transactions involving Target Corp stock, including acquisition and disposal of shares related to performance-based restricted stock units.

Summary

• Brian C. Cornell, an Executive Officer at Target Corp, filed a Form 4 detailing changes in beneficial ownership of the company's stock.
• On March 12, 2025, Cornell acquired 50,811 shares of common stock as an award of performance-based restricted stock units under the 2020 Long-Term Incentive Plan.
• These restricted stock units vest three years after the grant date.
• Cornell also acquired 7,077 shares from the settlement of a performance-based restricted stock unit award granted on March 11, 2022, including dividend equivalents.
• 10,716 shares were disposed of to satisfy tax withholding obligations related to the vesting of the restricted stock units.
• Following these transactions, Cornell directly owns 124,515 shares of Target Corp common stock.
• Cornell also indirectly owns 469.5677 shares through a 401(k) plan and 258,843 shares through a trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions reflect standard executive compensation practices and alignment with company performance goals. There are no indications of negative events or concerns.

Positives

• The acquisition of shares through performance-based restricted stock units aligns executive compensation with company performance.
• Settlement of previous awards indicates achievement of performance goals.

Negatives

• The disposal of 10,716 shares to cover tax obligations reduces Cornell's direct holdings, although this is a common practice.

Future Outlook

The performance-based restricted stock units awarded on March 12, 2025, will vest three years after the grant date, contingent on meeting vesting conditions.

Industry Context

Executive stock ownership is a common practice in publicly traded companies like Target Corp to align management's interests with those of shareholders. Form 4 filings are a standard part of regulatory compliance.

Comparison to Industry Standards

• Executive compensation packages including stock options and restricted stock units are standard practice among S&P 500 companies.
• Companies like Walmart (WMT) and Costco (COST) also utilize similar long-term incentive plans for their executives.
• The vesting period of three years for the restricted stock units is typical within the retail industry.

Stakeholder Impact

• The transactions reflect standard executive compensation practices, which can influence shareholder perception of management alignment with company goals.

Key Dates