Japan Post trust trims AFLAC (AFL) stake with 48,500-share sale

Rhea-AI Filing Summary

AFLAC Inc. insider filings show that shares were sold indirectly through a trust structure associated with Japan Post Holdings Co., Ltd. On June 11, 2026, entities tied to the J&A Alliance Trust conducted open-market sales totaling 48,500 shares of AFLAC common stock.

The trades were executed at weighted average prices within ranges from $116.31 to $118.17 per share. After these transactions, the filing reports 51,093,967 shares of AFLAC common stock indirectly held, indicating that the sale represents a small portion of the reported position.

Insider Trade Summary 10b5-1

Net Seller: 48,500 shares ($5,684,138)

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role null

Sold 48,500 shs ($5.68M)

Type	Security	Shares	Price	Value
Sale	Common Stock	22,268	$116.62	$2.60M
Sale	Common Stock	26,232	$117.69	$3.09M

Holdings After Transaction: Common Stock — 51,093,967 shares (Indirect, See footnote)

Footnotes (1)

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 $116.31 to $117.31 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 $117.32 to $118.17 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

Total shares sold: 48,500 shares Tranche 1 shares: 26,232 shares Tranche 1 weighted average price: $116.62 per share +5 more

8 metrics

Total shares sold 48,500 shares Indirect open-market sales on June 11, 2026

Tranche 1 shares 26,232 shares Common Stock sale, indirect ownership

Tranche 1 weighted average price $116.62 per share Executed within $116.31–$117.31 range

Tranche 2 shares 22,268 shares Common Stock sale, indirect ownership

Tranche 2 weighted average price $117.69 per share Executed within $117.32–$118.17 range

Post-transaction holdings 51,093,967 shares Indirectly held AFLAC common stock after sales

Price range tranche 1 $116.31–$117.31 per share Weighted average price disclosure footnote

Price range tranche 2 $117.32–$118.17 per share Weighted average price disclosure footnote

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 ("J&A Holdings"), 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

"due to its role as the sole settlor and beneficiary of the Trust."

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

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)
06/11/2026

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	06/11/2026		S		22,268	D	$116.62(1)	51,093,967	I	See footnote(2)
Common Stock	06/11/2026		S		26,232	D	$117.69(3)	51,067,735	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 $116.31 to $117.31 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 $117.32 to $118.17 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 Nobuyasu Kato	06/15/2026
	** 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)

FAQ

What did the AFL (AFLAC Inc.) Form 4 filed by Japan Post Holdings report?

The Form 4 reports indirect open-market sales of AFLAC common stock by entities tied to the J&A Alliance Trust totaling 48,500 shares on June 11, 2026, at weighted average prices between $116.31 and $118.17 per share.

How many AFLAC (AFL) shares were sold in the June 11, 2026 transactions?

The filing shows total indirect sales of 48,500 AFLAC common shares. These were split into two tranches of 26,232 shares and 22,268 shares, each executed as open-market sales at different weighted average prices on the same date.

At what prices were the AFLAC (AFL) shares sold in the Form 4?

The reported sales used weighted average prices. One tranche priced at $116.62 per share within a range of $116.31–$117.31, and the other at $117.69 per share within a range of $117.32–$118.17, according to the footnotes.

Who actually holds the AFLAC (AFL) shares linked to Japan Post in this filing?

The securities are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Several related entities, including Japan Post Holdings Co., Ltd., may be deemed to beneficially own interests, while expressly disclaiming ownership beyond their pecuniary interests.

How many AFLAC (AFL) shares remain held after these insider sales?

After the reported June 11, 2026 transactions, the filing lists 51,093,967 AFLAC common shares indirectly held. This indicates that the 48,500-share sale represents only a small fraction of the overall reported position in the company.

Were the AFL (AFLAC Inc.) insider sales made directly by Japan Post Holdings?

No, the reported securities are held by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Japan Post Holdings and related parties may be deemed beneficial owners through this structure, while disclaiming beneficial ownership beyond their pecuniary interests.