TARGET CORP — Director's Dealing 2009

Aug 20, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2009-08-19

Reporting Person: FRANCIS MICHAEL (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-08-19	Common Stock	M	29542	$33.8512	Acquired	98367	Direct
2009-08-19	Common Stock	S	18544	$44	Disposed	79823	Direct
2009-08-19	Common Stock	S	29542	$44	Disposed	50281	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-08-19	Stock Option	$33.8512	M	29542	Disposed	2010-01-12	Common Stock (29542)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5989.3957	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: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of June 30, 2009.

F3: Option granted on January 12, 2000. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.