TARGET CORP — Director's Dealing 2012

Jan 14, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2012-01-11

Reporting Person: STEINHAFEL GREGG W (Director, Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-15	Common Stock	G	123438.0000	$0.0000	Disposed	279575.0000	Direct
2012-01-11	Common Stock	A	51146.0000	$0.0000	Acquired	331618.0000	Direct
2011-11-15	Common Stock	G	123438.0000	$0.0000	Acquired	123438.0000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-11	Stock Option	$48.8800	A	397773.0000	Acquired	2022-01-11	Common Stock (397773.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	85740.8183	Indirect
Common Stock	39750.0000	Indirect

Footnotes

F1: The reporting person transferred these shares to a family limited partnership of which the reporting person and his wife are the only general partners. The reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

F2: Includes dividend equivalents paid on restricted stock units since the date of the reporting person's last filing through the date of the reported transaction that have been reinvested in additional restricted stock units.

F3: Award of restricted stock units pursuant to the Target Corporation 2011 Long-Term Incentive Plan.

F4: Includes dividend equivalents paid on restricted stock units since the date of the transaction referenced in footnote 1.

F5: Shares held in the Target Corporation 401(k) Plan based on the plan statement as of December 30, 2011.

F6: Option granted under the Target Corporation 2011 Long-Term Incentive Plan.

F7: Option granted on January 11, 2012. Option becomes exercisable in 25% increments on each anniversary of the grant date.