June 18, 2009 / 11:37 PM / in 8 years

UPDATE 1-Target says Ackman got 19 pct of vote

2 Min Read

* William Ackman got 19 percent of Target holder votes

* James Donald got 22 percent of shareholder votes

LOS ANGELES, June 18 (Reuters) - Target Corp (TGT.N) on Thursday released the final vote count from its contentious annual meeting where investors soundly rejected dissident shareholder William Ackman's slate of five director nominees.

Ackman got 19 percent of votes cast, while former Starbucks Corp (SBUX.O) Chief Executive James Donald received 22 percent of the vote.

Ackman's other nominees, Michael Ashner, Ronald Gilson and Richard Vague each won 8 percent of the vote.

All four of Target's incumbent director nominees -- Mary Dillon, Richard Kovacevich, George Tamke and Solomon Trujillo -- received more than 70 percent of votes cast.

About 560 million shares were voted, representing 74 percent of outstanding shares, Target said.

At its annual meeting on May 28, the retailer said the five nominees on Ackman's slate received support ranging from the high single digits to the low 20s in terms of the percent of votes cast.

Target spent roughly $11 million defending itself during the proxy contest with Ackman, whose Pershing Square Capital Management had a 7.8 percent stake in Target when votes were cast. (Reporting by Lisa Baertlein; Editing by Richard Chang)

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