TARGET CORP — Director's Dealing 2012

Dec 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2012-12-04

Reporting Person: Scully Terrence J (Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-12-04	Common Stock	M	20911.0000	$33.8000	Acquired	58882.0000	Direct
2012-12-04	Common Stock	S	20911.0000	$61.9523	Disposed	37971.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-12-04	Stock Option	$33.8000	M	20911.0000	Disposed	2019-01-14	Common Stock (20911.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30356.8148	Indirect

Footnotes

F1: Price is the volume weighted average selling price of all sales by the reporting person on the transaction date within a one dollar range. Actual prices ranged from $61.37 to $62.26. 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.

F2: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of September 28, 2012.

F3: Option granted under the Target Corporation Long-Term Incentive Plan.

F4: Option granted on January 14, 2009. Option vests and becomes exercisable in 25% increments on each anniversary of the grant date.