Target (TGT) CAO sells 2,053 shares and acquires deferred stock units
Rhea-AI Filing Summary
Target Corp Chief Accounting Officer Matthew A. Liegel reported two transactions. He made a discretionary acquisition of 2,112.1249 deferred compensation units tied to Target common stock under the company’s Executive Deferred Compensation Plan, bringing his balance in these units to 4,398.7685. Each unit is the economic equivalent of one Target share but is payable solely in cash as an unsecured company obligation.
On the same date, he sold 2,053 shares of Target common stock in an open-market transaction at a volume-weighted average price of $117.1911 per share, with individual sale prices ranging from $117.1900 to $117.2000. Following this sale, he directly holds 12,143 Target common shares.
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Insights
Routine sale alongside deferred compensation allocation; net effect is modest.
The filing shows Matthew A. Liegel, Target’s Chief Accounting Officer, reallocating compensation and equity exposure. He acquired 2,112.1249 deferred compensation units economically equivalent to Target shares under a non-share-settled plan, while also selling 2,053 common shares in the market.
The deferred compensation units are indexed to Target’s stock fund but remain unsecured cash obligations of the company, not actual shares. After these moves, he holds 4,398.7685 units and 12,143 shares, indicating continued exposure to Target. The combination looks like routine compensation management rather than a large directional bet.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| I | Deferred Compensation Units | 2,112.125 | $116.76 | $247K |
| Sale | Common Stock | 2,053 | $117.1911 | $241K |
Footnotes (1)
- 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. 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. 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. Includes investment earnings/losses since the reporting person's Form 4 filing on May 24, 2022, that previously reported these deferred compensation units.
