TARGET CORP — Director's Dealing 2017

Jul 7, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TARGET CORP (TGT)
CIK: 0000027419
Period of Report: 2017-07-05

Reporting Person: HARRISON ROBERT M (Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-07-05	Common Stock	S	2639.0000	$52.0450	Disposed	6845.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-07-06	Deferred Compensation Units	$	I	2663.2970	Acquired		Common Stock (2663.2970)	Direct

Footnotes

F1: 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.

F2: Deferred compensation units are held under the Target Corporation Executive Deferred Compensation Plan (the "Plan"). Under the terms of the Plan, participants' deferred compensation balances are indexed to various crediting rate alternatives, as chosen by them. The units reported relate to the Target common stock crediting rate alternative, and each unit is the economic equivalent of one share of Target common stock. The value of such units increases or decreases daily in accordance with an equivalent investment in the Target Stock Fund in the corporation's 401(k) plan. Participants are generally free to transfer plan balances into other crediting rate alternatives at any time. The Plan balances represent unsecured general obligations of Target Corporation, and are payable solely in cash.

F3: The transaction represents the reporting person's discretionary acquisition of additional units of the Target common stock crediting rate alternative under the Plan referenced in footnote 2, and is the economic equivalent of the purchase of the same number of shares of Target common stock.