Form 4: Target Corp Executive Don H. Liu Reports Changes in Beneficial Ownership
SEC Form 4
Executive Officer Don H. Liu reports acquisition and disposal of Target Corporation stock and restricted stock units.
Summary
- On March 13, 2024, Don H. Liu, an Executive Officer of Target Corp, reported changes in beneficial ownership of the company's stock.
- A total of 1,377 shares were disposed of to satisfy tax withholding obligations at a price of $165.87 per share.
- Liu also acquired 4,893 performance-based restricted stock units at a price of $0.
- Following these transactions, Liu directly owns 31,598 shares of Target Corp common stock.
- The restricted stock units were awarded pursuant to the Target Corporation 2020 Long-Term Incentive Plan and vest three years after the grant date.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing, indicating neutral sentiment. It reflects routine transactions related to executive compensation.
Positives
- The acquisition of performance-based restricted stock units aligns Liu's interests with the long-term performance of Target Corporation.
Future Outlook
The document does not contain specific forward-looking statements regarding Target Corp's future performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies. It provides transparency regarding the alignment of executive interests with shareholder value.
Comparison to Industry Standards
- Executive compensation packages including restricted stock units are standard practice among large retail corporations like Walmart (WMT) and Costco (COST).
- Vesting schedules of three years for restricted stock units are also typical in the industry to incentivize long-term commitment.
- Similar filings are regularly made by executives at comparable companies, reflecting the ongoing management of their equity holdings.
Stakeholder Impact
- The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.
- Employees may be indirectly affected through the company's overall performance and the alignment of executive incentives.
Key Dates
| Date | Description |
|---|---|
| January 22, 2024 | Date of Power of Attorney execution. |
| March 12, 2021 | Previous Form 4 filing date (mentioned in explanation of responses). |
| March 13, 2024 | Date of the reported transactions (disposal and acquisition of shares). |
| March 15, 2024 | Date of signature for the Power of Attorney. |
| March 22, 2021 | Amended Form 4 filing date (mentioned in explanation of responses). |
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