Japan Post entity sells 15,000 Aflac shares

A more-than-10% shareholder associated with Japan Post reported pre-planned open-market sales totaling 15,000 AFLAC INC shares held indirectly through a trust structure.

Rhea-AI Filing Summary

AFLAC INC (AFL) reported that Japan Post Holdings Co., Ltd., a more-than-10% shareholder, filed a Form 4 for indirect sales of the company’s common stock on September 4, 2026. In total, entities associated with Japan Post sold 15,000 shares held by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, in open‑market transactions under a Rule 10b5‑1 trading plan.

The 15,000 shares were sold in two tranches at weighted‑average prices around $117–$118 per share. J&A Alliance Holdings Corporation, General Incorporated Association J&A Alliance, Kenji Sano, Tetsuya Numaguchi, and Japan Post may be deemed to beneficially own these shares through the trust structure, but each expressly disclaims beneficial ownership except to the extent of any pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 15,000 shares

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 15,000 shs ($1.76M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	14,850	$117.46	$1.74M
Sale	Common Stock F3, F2	150	$118.17	$18K

Holdings After Transaction: Common Stock — 50,652,690 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 $117.07 to $118.01 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 $118.08 to $118.32 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 (block 1): 14,850 shares Weighted-average price (block 1): $117.46 per share Shares sold (block 2): 150 shares +3 more

6 metrics

Shares sold (block 1) 14,850 shares Open-market sale of AFLAC INC common stock on September 4, 2026

Weighted-average price (block 1) $117.46 per share 14,850-share sale; individual trades from $117.07 to $118.01

Shares sold (block 2) 150 shares Second open-market sale on September 4, 2026

Weighted-average price (block 2) $118.17 per share 150-share sale; individual trades from $118.08 to $118.32

Total shares sold 15,000 shares Aggregate of both reported sales by the trust-related holder

Transaction count 2 transactions Both non-derivative sales of common stock on September 4, 2026

Key Terms

weighted average price, beneficially own, pecuniary interest, trustee, +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.

pecuniary interest financial

"expressly 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 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.

Rule 10b5-1 regulatory

"transactions were effected under 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.

FAQ

What did Japan Post-related entities report selling in AFL (AFLAC INC) on this Form 4?

They reported indirect open-market sales of 15,000 shares of AFLAC INC common stock on September 4, 2026, executed in two tranches and held through J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust.

At what prices were the AFL (AFLAC INC) shares sold in this Japan Post filing?

One block of 14,850 shares was sold at a weighted-average price of $117.46, with individual trades between $117.07 and $118.01. A second block of 150 shares used a weighted-average price of $118.17, with trades between $118.08 and $118.32.

Were the AFL (AFLAC INC) share sales by the Japan Post-related trust under a Rule 10b5-1 plan?

Yes. The filing indicates the transactions were effected under a Rule 10b5-1 trading plan, meaning the trades were pre-arranged according to preset instructions rather than decided at the time of sale.

Who actually holds the AFL (AFLAC INC) shares involved in this Japan Post Form 4?

The reported securities are held directly by J&A Alliance Holdings Corporation in its capacity as trustee of the J&A Alliance Trust. Japan Post and other related parties may be deemed beneficial owners through this structure, subject to pecuniary-interest limitations.

Do Japan Post and related parties claim full beneficial ownership of the AFL (AFLAC INC) shares sold?

No. General Incorporated Association J&A Alliance, Kenji Sano, Tetsuya Numaguchi, and Japan Post each expressly disclaim beneficial ownership of the reported securities except to the extent of their respective pecuniary interests.

Is this AFL (AFLAC INC) Form 4 a purchase or a sale by the Japan Post-related holder?

It reports sales. Two non-derivative transactions with code “S” show an aggregate net disposition of 15,000 shares of AFLAC INC common stock by the trust-related holder on September 4, 2026.

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Available on EDGAR 09/09/2026 - 09:00 AM Accepted by SEC EDGAR 09/09/2026 - 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)
09/04/2026

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	09/04/2026		S		14,850	D	$117.46(1)	50,652,840	I	See footnote(2)
Common Stock	09/04/2026		S		150	D	$118.17(3)	50,652,690	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 $117.07 to $118.01 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 $118.08 to $118.32 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	09/09/2026
	** 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)