TARGET CORP 10-Q

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds On September 20, 2016, our Board of Directors authorized a $5 billion share repurchase program (2016 Program). On September 19, 2019, our Board of Directors authorized a new $5 billion share repurchase program (2019 Program). We began repurchasing shares under the 2019 Program during the first quarter of 2020 upon completion of the 2016 Program. There is no stated expiration for the share repurchase programs. Under the 2016 Program, we repurchased 65.6 million shares of common stock, at an average price of $76.20, for a total investment of $5.0 billion. Under the 2019 Program, we had repurchased 4.6 million shares of common stock through May 2, 2020, at an average price of $105.80, for a total investment of $484 million. In March 2020, we suspended share repurchase activity. The table below presents information with respect to Target common stock purchases made during the three months ended May 2, 2020, by Target or any "affiliated purchaser" of Target, as defined in Rule 10b-18(a)(3) under the Exchange Act. Share Repurchase Activity Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Dollar Value of Shares that May Yet Be Purchased Under Publicly Announced Programs Period February 2, 2020 through February 29, 2020 Open market and privately negotiated purchases 2,407,239 $ 115.82 2,407,239 $ 4,845,973,069 March 1, 2020 through April 4, 2020 Open market and privately negotiated purchases 3,249,973 101.48 3,249,973 4,516,156,869 April 5, 2020 through May 2, 2020 Open market and privately negotiated purchases — — — 4,516,156,869 Total 5,657,212 $ 107.58 5,657,212 $ 4,516,156,869 Item 3. Defaults Upon Senior Securities Not applicable. Item 4. Mine Safety Disclosures Not applicable.