Proxy Blog

Target Corporation 

May 9, 2020

The annual proxy for the retail store company had the following proposals: 

  1. Proforma votes on directors, appointment of auditors, and “say-on-pay” advisory vote 
  2. Board proposal on long-term incentive plan 

Magni voted as follows: 

  1. For proforma proposals.
    Directors – The disclosures in the proxy meet the criteria in Magni’s policy on election of directors.
    -Auditors. There appear to be no controversies with the financial statements of the company.
    -“Say-on-pay” – The company has improved the executive compensation disclosures in the proxy. In particular, the addition of benchmarking of the company against the peer group is an important addition. 
  2. For board proposal on long-term incentive plan – Long-term incentive plans align the interests of the management team with the shareholders.