LIEGEL MATTHEW A 4
4 · TARGET CORP · Filed Mar 19, 2026
Research Summary
AI-generated summary of this filing
Target (TGT) Chief Accounting Officer Matthew Liegel Sells Shares
What Happened
Matthew A. Liegel, Chief Accounting Officer of Target Corporation, executed two related transactions on March 17, 2026. He sold 2,053 shares in an open-market sale at a VWAP of $117.19 (total proceeds ~$240,593) and, on the same date, acquired 2,112.125 units tied to Target’s deferred compensation stock crediting rate at $116.76 per unit (economic equivalent of shares) valued at ~$246,612. The sale is a routine open-market disposition; the acquisition represents a discretionary allocation into Target’s deferred compensation stock alternative (a cash-settled economic equivalent to shares).
Key Details
- Transaction date: 2026-03-17; Form 4 filed: 2026-03-19 (appears timely).
- Sale: 2,053 shares at $117.19 VWAP; proceeds ~$240,593. (Footnote F1: prices ranged $117.1900–$117.2000; VWAP reported.)
- Acquisition: 2,112.125 deferred stock units at $116.76 each; value ~$246,612. Reported as a discretionary acquisition of plan units (derivative). (Footnotes F2–F3 explain these are units under the Target Executive Deferred Compensation Plan and are the economic equivalent of common shares.)
- Shares owned after the transactions: not disclosed in the provided filing excerpt.
- Footnote F4: reported units include investment earnings/losses since the reporting of earlier deferred compensation units (previously reported on May 24, 2022).
- No indication of 10b5-1 plan, option exercise, gift, or tax-withholding listed in this filing.
Context
Deferred compensation units under Target’s plan are cash-settled and track the value of Target common stock; they are unsecured obligations of the company and can be moved among crediting rate options. The combination of an open-market sale and a near-equal-value acquisition of deferred-stock units often reflects personal liquidity or compensation-election decisions rather than a straightforward “buy” or “sell” signal about company prospects. This filing is factual reporting of the trades and plan allocation.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-03-17$117.19/sh−2,053$240,593→ 12,143 total - Discretionary Transaction
Deferred Compensation Units
[F2][F3][F4]2026-03-17$116.76/sh+2,112.125$246,612→ 4,398.769 total→ Common Stock (2,112.125 underlying)
Footnotes (4)
- [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 $117.1900 to $117.2000. 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]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 units of the Target common stock 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.
- [F4]Includes investment earnings/losses since the reporting person's Form 4 filing on May 24, 2022, that previously reported these deferred compensation units.