Target Corporation

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On July 18, 2026, the Board of Directors of Target Corporation (“Target”) elected Joe DePinto as a director of Target, effective August 1, 2026. Mr. DePinto was also appointed to serve on the Audit & Risk Committee and the Infrastructure & Finance Committee, each also effective August 1, 2026. Mr. DePinto, 63, is the former President & Chief Executive Officer at 7-Eleven, Inc., a position he held from 2005 to December 2025. Prior to his role at 7-Eleven, Mr. DePinto was previously president of GameStop Corporation. He has also held leadership positions at PepsiCo, Inc. Mr. DePinto is currently on the board of directors for Brinker International. There are no arrangements or understandings between Mr. DePinto and any other person pursuant to which Mr. DePinto was selected as a director of Target. There are no related person transactions within the meaning of Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission between Mr. DePinto and Target. Mr. DePinto will receive the annual compensation that Target provides to its non-employee directors as described in Target’s 2026 proxy statement.