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TARGET CORP Director's Dealing 2006

Oct 26, 2006

30059_dirs_2006-10-26_ded640de-45d0-4c16-880a-214cfe8aa20d.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2006-10-24

Reporting Person: Scully Terrence J (Executive Officer)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-10-24 Common Stock, $.0833 per share M 100 $17.2969 Acquired 100.0000 Direct
2006-10-24 Common Stock, $.0833 per share M 5910 $33.8512 Acquired 6010.0000 Direct
2006-10-24 Common Stock, $.0833 per share M 8825 $33.9956 Acquired 14835.0000 Direct
2006-10-24 Common Stock, $.0833 per share S 14835 $59.0519 Disposed 0.0000 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2006-10-24 Stock Option $17.2969 M 100 Disposed 2008-01-14 Common Stock (100.0000) Direct
2006-10-24 Stock Option $33.8512 M 5910 Disposed 2010-01-12 Common Stock (5910.0000) Direct
2006-10-24 Stock Option $33.9956 M 8825 Disposed 2011-01-10 Common Stock (8825.0000) Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock, $.0833 per share 26033.2619 Indirect

Footnotes

F1: Price is the weighted average selling price of all sales by the reporting person on the transaction date. The range of selling prices was $59.01 to $59.12 per share.

F2: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of September 29, 2006.

F3: Option granted under the Target Corporation Executive Long-Term Incentive Plan of 1981 in a transaction exempt under Rule 16b-3.

F4: Option granted on January 14, 1998. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F5: Option granted under the Target Corporation Long-Term Incentive Plan in a transaction exempt under Rule 16b-3.

F6: Option granted on January 12, 2000. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.

F7: Option granted on January 10, 2001. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.