Japan Post-linked trust trims AFLAC (AFL) stake with 41,700-share sale
Rhea-AI Filing Summary
J&A Alliance Holdings Corporation, acting as trustee of the J&A Alliance Trust, reported open-market sales of Aflac Inc. common stock associated with Japan Post Holdings Co., Ltd..
The trust sold a total of 41,700 shares of Aflac common stock on May 18, 2026 in two transactions at weighted average prices around $118 per share, within disclosed ranges between about $117.30 and $118.80. These shares are held indirectly for Japan Post, which may be deemed to beneficially own them as sole settlor and beneficiary of the trust but expressly disclaims beneficial ownership beyond its pecuniary interest. The filing indicates the trust still holds a very large remaining position in Aflac shares.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 41,700 shares ($4,939,291)
Net Sell
2 txns
Insider
Japan Post Holdings Co., Ltd.
Role
10% Owner
Sold
41,700 shs ($4.94M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 13,748 | $118.16 | $1.62M |
| Sale | Common Stock | 27,952 | $118.59 | $3.31M |
Holdings After Transaction:
Common Stock — 51,502,597 shares (Indirect, See footnote)
Footnotes (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 $117.30 to $118.30 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. 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. The price reported represents the weighted average price of shares of Common Stock of the Issuer sold in multiple transactions at prices ranging from $118.305 to $118.80 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 tranche): 27,952 shares
Price per share (first tranche): $118.59/share
Shares sold (second tranche): 13,748 shares
+4 more
7 metrics
Shares sold (first tranche)
27,952 shares
Aflac common stock sold May 18, 2026
Price per share (first tranche)
$118.59/share
Weighted average sale price May 18, 2026
Shares sold (second tranche)
13,748 shares
Aflac common stock sold May 18, 2026
Price per share (second tranche)
$118.16/share
Weighted average sale price May 18, 2026
Total shares sold
41,700 shares
Net shares sold across both transactions
Price range (first sale block)
$117.30–$118.30/share
Multiple trades aggregated into weighted average
Price range (second sale block)
$118.305–$118.80/share
Multiple trades aggregated into weighted average
Key Terms
weighted average price, beneficially own, trustee, pecuniary interest, +1 more
5 terms
weighted average price financial
"The price reported represents the weighted average price of shares of Common Stock"
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 by J&A Holdings"
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.
trustee financial
"held directly by J&A Alliance Holdings Corporation in its capacity as the trustee of the J&A Alliance Trust"
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.
pecuniary interest financial
"expressly disclaim beneficial ownership of the reported securities except to the extent of its pecuniary interest therein"
settlor and beneficiary financial
"Japan Post may be deemed to beneficially own the shares ... due to its role as the sole settlor and beneficiary of the Trust"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transactions did AFLAC (AFL) report in this Form 4?
Aflac Inc. reported indirect insider sales of common stock linked to Japan Post through a trust. J&A Alliance Holdings, as trustee, sold a total of 41,700 AFL shares in two open-market transactions on May 18, 2026 at weighted average prices near $118 per share.
Are the AFLAC (AFL) sales by Japan Post considered open-market transactions?
Yes, the transactions are classified as open-market sales. The filing codes both trades as “S,” described as sales in open market or private transactions, with disclosed weighted average prices and detailed price ranges available upon request from the reporting person.
Does Japan Post still hold a significant position in AFLAC (AFL) after these sales?
The filing indicates a very large remaining Aflac position held through the J&A Alliance Trust. Reported post-transaction share balances show tens of millions of AFL shares still indirectly held, so the 41,700 shares sold represent only a small fraction of the overall stake.