TARGET CORP — Director's Dealing 2009

Aug 24, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2009-08-20

Reporting Person: Risch Troy H (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-08-20	Common Stock	M	1478	$33.8512	Acquired	28864	Direct
2009-08-20	Common Stock	S	1478	$45.1361	Disposed	27386	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-08-20	Stock Option	$33.8512	M	1478	Disposed	2010-01-12	Common Stock (1478)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	590.2873	Indirect

Footnotes

F1: Includes dividend equivalents paid on restricted stock units since the date of the reporting person's last filing that have been reinvested in additional restricted stock units.

F2: Price is the volume weighted average selling price of all sales by the reporting person on the transaction date. Actual prices ranged from $45.13 to $45.14143. The reporting person hereby undertakes to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F3: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of June 30, 2009.

F4: Option granted on January 12, 2000. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.