UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On August 26, 2020 Target Corporation announced that its Board of Directors elected Derica W. Rice and Christine A. Leahy as directors of Target Corporation, effective August 31, 2020 and January 1, 2021, respectively.
Mr. Rice, 55, served as EVP of CVS Health and President of its pharmacy benefit management business, CVS Caremark, from March, 2018 to February 2020. Prior to that, he served as EVP of global services and CFO of Eli Lilly and Company, a global pharmaceutical company, from 2006 to 2017. Mr. Rice is currently a director of The Walt Disney Company and will become a director of Bristol-Myers Squibb Company on September 1, 2020. He previously served as a director of Target Corporation from September, 2007 to January, 2018.
Ms. Leahy, 56, has been President and Chief Executive Officer and a director of CDW Corporation, a multi-brand technology solutions provider to business, government, education and health care customers, since January, 2019. She has been employed by CDW since January 2002, serving as Chief Revenue Officer from July 2017 to December 2018, Senior Vice President – International from May 2016 to July 2017, and Chief Legal Officer/General Counsel and Corporate Secretary from January 2002 to July 2017.
The Board has appointed Mr. Rice to the Audit & Finance Committee and the Governance Committee. No action has been taken at this time with respect to Ms. Leahy’s committee appointments.
Each of Mr. Rice and Ms. Leahy will receive a one-time grant of RSUs with a grant date fair value of $50,000 and the annual compensation we provide to non-employee directors described in our proxy statement.
A copy of the News Release describing these changes to the Board of Directors is attached as Exhibit 99.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
| 99 | Target Corporation’s News Release dated August 26, 2020 relating to changes to the Board of Directors |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TARGET CORPORATION | ||
| Date: August 26, 2020 | /s/ Don H. Liu | |
| Don H. Liu | ||
| Executive Vice President and Chief Legal & Risk Officer |