Aflac major holder sells 13,600 shares at ~$117

A 10% owner associated with AFL sold 13,600 indirectly held shares on September 15, 2026 under a Rule 10b5-1 trading plan.

Rhea-AI Filing Summary

AFLAC Inc. (AFL) disclosed that an entity associated with major shareholder Japan Post Holdings Co., Ltd. reported indirect open-market sales of a total of 13,600 shares of common stock on September 15, 2026. The shares were held by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, and the reporting parties expressly disclaim beneficial ownership except to the extent of their pecuniary interest. The trades were executed under a Rule 10b5-1 trading plan and occurred in two blocks at weighted average prices within disclosed intraday ranges.

Insider Trade Summary 10b5-1

Net Seller: 13,600 shares

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 13,600 shs ($1.60M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	4,019	$116.84	$470K
Sale	Common Stock F3, F2	9,581	$117.55	$1.13M

Holdings After Transaction: Common Stock — 50,570,990 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 $116.19 to $117.18 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 $117.20 to $117.74 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): 4,019 shares Weighted average sale price (first transaction): $116.84 per share Shares sold (second transaction): 9,581 shares +2 more

5 metrics

Shares sold (first transaction) 4,019 shares Indirect sale of AFL common stock on September 15, 2026

Weighted average sale price (first transaction) $116.84 per share Sales in a range of $116.19–$117.18 on September 15, 2026

Shares sold (second transaction) 9,581 shares Indirect sale of AFL common stock on September 15, 2026

Weighted average sale price (second transaction) $117.55 per share Sales in a range of $117.20–$117.74 on September 15, 2026

Total shares sold 13,600 shares Combined reported sales by the Japan Post–related holder

Key Terms

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

5 terms

Rule 10b5-1 regulatory

"The trades were executed 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.

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 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"

settlor financial

"Japan Post may be deemed to beneficially own ... due to its role as the sole settlor and beneficiary of the Trust"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did AFL (AFLAC Inc.) report in this Form 4?

AFL reported that an entity associated with 10% owner Japan Post Holdings Co., Ltd. indirectly sold 13,600 shares of AFL common stock in open-market transactions on September 15, 2026 through a trust structure.

At what prices were the 13,600 AFL shares sold by the Japan Post–related entity?

The 13,600 shares were sold in two tranches at weighted average prices of $116.84 and $117.55 per share, with individual trades in ranges of $116.19–$117.18 and $117.20–$117.74, respectively.

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

Yes. The filing indicates the transactions were executed under a Rule 10b5-1 trading plan, meaning the sales followed a pre-arranged trading program rather than ad hoc timing decisions.

Who actually held the AFL shares involved in the Japan Post–related Form 4 sales?

The reported AFL shares were held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Several related parties, including Japan Post Holdings Co., Ltd., may be deemed to beneficially own the shares through this structure.

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

No. The filing states that General Incorporated Association J&A Alliance, Kenji Sano, Tetsuya Numaguchi, and Japan Post Holdings Co., Ltd. each expressly disclaim beneficial ownership of the reported AFL securities except to the extent of their pecuniary interest.

How many separate transactions did the Japan Post–related holder report in AFL stock?

The Form 4 reports two separate non-derivative transactions in AFL common stock on September 15, 2026: one for 4,019 shares and another for 9,581 shares, both characterized as open-market or private sale transactions.

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

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Available on EDGAR 09/17/2026 - 09:01 AM Accepted by SEC EDGAR 09/17/2026 - 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)
09/15/2026

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	09/15/2026		S		4,019	D	$116.84(1)	50,580,571	I	See footnote(2)
Common Stock	09/15/2026		S		9,581	D	$117.55(3)	50,570,990	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 $116.19 to $117.18 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 $117.20 to $117.74 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	09/17/2026
	** 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)