Item 5.02.Departure of Director or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 12, 2021 the Human Resources & Compensation Committee of the Board of
Directors of Target Corporation ("Target") adopted a new Executive Officer Cash
Incentive Plan (the "Plan") under which executive officers may receive cash
incentive awards. The Plan replaces Target's prior Executive Officer Cash
Incentive Plan with respect to cash incentive awards granted after January 31,
2021. The new Plan is substantially similar to the prior plan except that it
removes certain references and requirements previously applicable to qualified
performance-based compensation under Section 162(m) of the Internal Revenue Code
following the repeal of the Section 162(m) exemption under the Tax Cuts and Jobs
Act of 2017.
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