Aflac holder Japan Post sells 12,800 shares

AFLAC INC (AFL) reported that major shareholder Japan Post Holdings Co., Ltd. filed a Form 4 showing indirect open-market sales totaling 12,800 shares of common stock on September 18, 2026.

Rhea-AI Filing Summary

AFLAC INC (AFL) reported that major shareholder Japan Post Holdings Co., Ltd. filed a Form 4 showing indirect open-market sales totaling 12,800 shares of common stock on September 18, 2026. The shares were sold by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, and the filing indicates the transactions were made under a Rule 10b5-1 trading plan. Various affiliated entities and individuals may be deemed to beneficially own the trust’s holdings but expressly disclaim beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 12,800 shares

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 12,800 shs ($1.49M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	11,840	$116.19	$1.38M
Sale	Common Stock F3, F2	960	$116.59	$112K

Holdings After Transaction: Common Stock — 50,531,490 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 $115.46 to $116.46 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 $116.48 to $116.68 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 (primary block): 11,840 shares Weighted average price (primary block): $116.19 per share Shares sold (second block): 960 shares +4 more

7 metrics

Shares sold (primary block) 11,840 shares Indirect open-market sale of AFL common stock on September 18, 2026

Weighted average price (primary block) $116.19 per share For 11,840 shares sold in multiple trades at prices from $115.46 to $116.46

Shares sold (second block) 960 shares Additional indirect open-market sale on September 18, 2026

Weighted average price (second block) $116.59 per share For 960 shares sold in multiple trades at prices from $116.48 to $116.68

Total shares sold 12,800 shares Combined net sell volume reported across both transactions

Price range (primary block) $115.46–$116.46 per share Range of prices for trades comprising the 11,840-share weighted average sale

Price range (second block) $116.48–$116.68 per share Range of prices for trades comprising the 960-share weighted average sale

Key Terms

weighted average price, beneficially own, trustee, settlor and beneficiary, +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"

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.

settlor and beneficiary financial

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

pecuniary interest financial

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

FAQ

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

What insider transaction did AFL (AFLAC INC) disclose in this Form 4?

AFLAC INC disclosed that Japan Post Holdings Co., Ltd., a more than 10% shareholder, reported indirect open-market sales of 12,800 shares of AFL common stock on September 18, 2026, executed through a trust structure holding the shares.

How many AFL shares did Japan Post-related entities sell and at what prices?

Entities associated with Japan Post sold 11,840 shares at a weighted average price of $116.19 (range $115.46–$116.46) and 960 shares at a weighted average price of $116.59 (range $116.48–$116.68) on September 18, 2026.

Were the AFL insider sales by Japan Post made under a Rule 10b5-1 plan?

Yes. The Form 4 for AFL indicates that the reported transactions were made under a Rule 10b5-1 trading plan, meaning the sales followed a pre-established, disclosed trading arrangement rather than ad hoc timing decisions.

Who actually holds the AFL shares involved in the Japan Post Form 4?

The reported AFL shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Various related entities and individuals may be deemed beneficial owners through their interests in the trustee entity.

Does Japan Post fully acknowledge beneficial ownership of the reported AFL shares?

No. Japan Post and the related entities and individuals expressly disclaim beneficial ownership of the reported AFL securities except to the extent of their pecuniary interest, even though they may be deemed beneficial owners under securities rules.

Can investors obtain the detailed price breakdowns for these AFL share sales?

Yes. The Form 4 states the prices are weighted averages over multiple trades in stated ranges and that the reporting person will provide, upon request, the number of shares sold at each individual price within those ranges to AFLAC INC or SEC staff.

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

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Available on EDGAR 09/22/2026 - 04:27 PM Accepted by SEC EDGAR 09/22/2026 - 04:27 PM 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)
09/18/2026

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	09/18/2026		S		11,840	D	$116.19(1)	50,532,450	I	See footnote(2)
Common Stock	09/18/2026		S		960	D	$116.59(3)	50,531,490	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 $115.46 to $116.46 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 $116.48 to $116.68 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	09/22/2026
	** 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)