Japan Post unloads 12,700 Aflac (NYSE: AFL) shares under trading plan

Rhea-AI Filing Summary

AFLAC INC (AFL) had insider activity reported by major shareholder Japan Post Holdings Co., Ltd. Indirectly through J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, it sold 12,066 AFLAC common shares at a weighted average price of about $116.44 and 634 shares at about $117.37 on August 25, 2026. Both sales were executed under a Rule 10b5-1 trading plan. Footnotes state that J&A Holdings, General Incorporated Association J&A Alliance, Kenji Sano, Tetsuya Numaguchi and Japan Post may be deemed beneficial owners but each expressly disclaims beneficial ownership beyond its pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 12,700 shares

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 12,700 shs ($1.48M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	12,066	$116.44	$1.40M
Sale	Common Stock F3, F2	634	$117.37	$74K

Holdings After Transaction: Common Stock — 50,765,590 shares (Indirect, See footnote)

Footnotes (3)

1. F1. The price reported represents the weighted average price of shares of Common Stock of Aflac Inc. (the "Issuer") sold in multiple transactions at prices ranging from $116.135 to $117.12 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.
2. F2. The reported securities are held directly by J&A Alliance Holdings Corporation ("J&A Holdings"), in its capacity as the trustee of the J&A Alliance Trust (the "Trust"). General Incorporated Association J&A Alliance ("General Incorporated"), Kenji Sano and Tetsuya Numaguchi each may be deemed to beneficially own the securities held by J&A Holdings (in its capacity as trustee of the Trust) because (i) General Incorporated owns J&A Holdings and (ii) Kenji Sano and Tetsuya Numaguchi each own 50% of the equity interests in General Incorporated. Japan Post Holdings Co., Ltd. ("Japan Post") may be deemed to beneficially own the shares of common stock owned directly by J&A Holdings, in its capacity as the trustee of the Trust, due to its role as the sole settlor and beneficiary of the Trust. Each of General Incorporated, Kenji Sano, Tetsuya Numaguchi and Japan Post expressly disclaim beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.
3. F3. The price reported represents the weighted average price of shares of Common Stock of the Issuer sold in multiple transactions at prices ranging from $117.15 to $117.64 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

Key Figures

Shares sold (first transaction): 12,066 shares Weighted average price (first transaction): $116.44 per share Shares sold (second transaction): 634 shares +2 more

5 metrics

Shares sold (first transaction) 12,066 shares Common Stock sold indirectly on August 25, 2026

Weighted average price (first transaction) $116.44 per share Within a range of $116.135–$117.12 per share

Shares sold (second transaction) 634 shares Common Stock sold indirectly on August 25, 2026

Weighted average price (second transaction) $117.37 per share Within a range of $117.15–$117.64 per share

Total shares sold 12,700 shares Net selling activity reported across both transactions

Key Terms

Rule 10b5-1, weighted average price, beneficially own, pecuniary interest, +1 more

5 terms

Rule 10b5-1 regulatory

"transactions were made pursuant to a Rule 10b5-1 trading plan"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

weighted average price financial

"The price reported represents the weighted average price of shares"

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

beneficially own financial

"each may be deemed to beneficially own the securities held"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

pecuniary interest financial

"disclaim beneficial ownership of the reported securities except to the extent of its pecuniary interest"

trustee financial

"held directly by J&A Alliance Holdings Corporation in its capacity as the trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

FAQ

Who reported insider transactions in AFL (AFL) on this Form 4?

The reporting person is Japan Post Holdings Co., Ltd., identified as a ten percent owner of AFLAC INC. The reported shares are held indirectly through J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, with multiple associated entities referenced in the footnotes.

How many AFL (AFL) shares were sold in the reported transactions?

The filing reports total sales of 12,700 shares of AFLAC common stock, consisting of 12,066 shares in one transaction and 634 shares in another, both dated August 25, 2026, and held indirectly through a trust structure.

What were the sale prices for the AFL (AFL) insider transactions?

The 12,066 shares were sold at a weighted average price of about $116.44 per share, within a range of $116.135–$117.12. The 634 shares were sold at a weighted average price of about $117.37, within a range of $117.15–$117.64, as disclosed in the footnotes.

Were the AFL (AFL) insider sales made under a Rule 10b5-1 plan?

Yes. The Form 4 indicates that the transactions were made pursuant to a Rule 10b5-1 trading plan, as shown by the checked document-level 10b5-1 box, meaning the trades were executed under a pre-arranged trading arrangement.

How is beneficial ownership of the reported AFL (AFL) shares structured?

The shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. General Incorporated Association J&A Alliance, Kenji Sano, Tetsuya Numaguchi, and Japan Post may be deemed to beneficially own these shares, but each disclaims beneficial ownership except to the extent of its pecuniary interest.

Does the Form 4 state AFL (AFL) holdings after these insider sales?

No specific post-transaction share balance is reported for the selling entities in the transaction rows, so the filing only discloses the shares sold and prices, not the remaining holdings after the August 25, 2026 transactions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/27/2026 - 09:00 AM Accepted by SEC EDGAR 08/27/2026 - 09:00 AM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Japan Post Holdings Co., Ltd.

(Last) (First) (Middle)

2-3-1, OTEMACHI, CHIYODA-KU

(Street)

TOKYO 100-8791

(City) (State) (Zip)

JAPAN

(Country)

2. Issuer Name and Ticker or Trading Symbol
AFLAC INC [ AFL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/25/2026		S		12,066	D	$116.44(1)	50,766,224	I	See footnote(2)
Common Stock	08/25/2026		S		634	D	$117.37(3)	50,765,590	I	See footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported represents the weighted average price of shares of Common Stock of Aflac Inc. (the "Issuer") sold in multiple transactions at prices ranging from $116.135 to $117.12 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

2. The reported securities are held directly by J&A Alliance Holdings Corporation ("J&A Holdings"), in its capacity as the trustee of the J&A Alliance Trust (the "Trust"). General Incorporated Association J&A Alliance ("General Incorporated"), Kenji Sano and Tetsuya Numaguchi each may be deemed to beneficially own the securities held by J&A Holdings (in its capacity as trustee of the Trust) because (i) General Incorporated owns J&A Holdings and (ii) Kenji Sano and Tetsuya Numaguchi each own 50% of the equity interests in General Incorporated. Japan Post Holdings Co., Ltd. ("Japan Post") may be deemed to beneficially own the shares of common stock owned directly by J&A Holdings, in its capacity as the trustee of the Trust, due to its role as the sole settlor and beneficiary of the Trust. Each of General Incorporated, Kenji Sano, Tetsuya Numaguchi and Japan Post expressly disclaim beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.

3. The price reported represents the weighted average price of shares of Common Stock of the Issuer sold in multiple transactions at prices ranging from $117.15 to $117.64 per share. The reporting person will provide to the Issuer, or the Securities and Exchange Commission staff, upon request, information regarding the number of shares sold at each price within the range.

	/s/ Yuki Takemura, Senior General Manager, as attorney-in-fact for Kenji Meguro	08/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)