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Target Reports Final Voting Results for 2009 Annual Meeting of Shareholders

Posted on: Tue, 23 Jun 2009 01:16:00 EDT

Symbols: TGT

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Jun 22, 2009 (Close-Up Media via COMTEX) --
TGT | Quote | Chart | News | PowerRating -- Target Corp. announced that IVS Associates, Inc., the independent Inspector of Elections, has certified the voting results for Target's 2009 Annual Meeting of Shareholders held on May 28.

In a release, the company noted that based on the final tabulation and certification by IVS Associates, Target shareholders have elected to the Target Board of Directors all four of the company's incumbent director nominees - Mary N. Dillon, Richard M. Kovacevich, George W. Tamke, and Solomon D. Trujillo. The results also confirm that shareholders have approved the proposal to set the size of the Target Board at 12 and that the shareholder proposal regarding an annual advisory vote on executive compensation was not approved.

The final tabulation indicates that approximately 560 million shares were voted, representing 74 percent of outstanding shares. Target shareholders also approved the ratification of Ernst & Young as the company's independent registered public accounting firm and the proposal to approve the performance measures available under the Target Corp. Long-Term Incentive Plan, with 98 percent and 96 percent, respectively, of the votes cast in favor of these proposals. The shareholder proposal regarding an annual advisory vote on executive compensation was defeated with 284 million shares cast against, compared to 233 million for and 42 million abstaining.

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