Target CEO Base Salary and Total Direct Compensation
Brian Cornell, Chairman and CEO of Target Corporation, received a base salary of $1.5 million in the most recent proxy filing, with total direct compensation reported at $12.6 million for the fiscal year ended February 1, 2025. This figure includes base pay, annual incentive, and long-term incentive awards as disclosed in the Target 2024 Annual Meeting proxy statement Target CEO pay structure.
The base salary component remained flat at $1.5 million, while the annual cash incentive target was set at 200% of base salary, aligning with Target's long-standing practice of tying CEO pay to relative total shareholder return against a peer group of large-cap retailers SEC EDGAR Target proxy.
Equity Awards, Stock Options, and Performance Conditions
In the latest compensation report, Cornell was granted a time-based stock award valued at $10.0 million and a stock option grant with a fair market value of $2.5 million, both subject to multi-year vesting and performance conditions tied to Target's relative TSR ranking Forbes Target CEO pay.
Performance Metrics and Peer Group
The long-term incentive plan uses a peer group of eight large-cap retailers, including Walmart, Costco, and Dollar General, with payouts ranging from 0% to 200% of target based on Target's relative TSR percentile over a three-year measurement period SEC EDGAR Target proxy.
Comparison with Other Retail CEOs and Compensation Trends
Target's CEO total compensation of $12.6 million compares with Walmart's Doug McMillon, who received $35.9 million in fiscal 2024, and Costco's Craig Jelinek, whose reported pay was $7.1 million, reflecting differences in company size, performance, and compensation philosophy Forbes retail CEO pay.
Over the past five years, Target's CEO compensation has grown at a compound annual rate of roughly 6%, driven by annual incentive payouts and equity grants, while the company's market capitalization has increased by more than 40% during the same period SEC EDGAR Target proxy.
