Aflac holder Japan Post sells 13,500 shares

A 10% owner-related entity of AFL sold 13,500 shares under a Rule 10b5-1 plan while retaining over 50.6 million shares indirectly.

Rhea-AI Filing Summary

AFLAC INC (AFL) reported that major shareholder Japan Post Holdings Co., Ltd., through an affiliated trust structure, sold 13,500 shares of common stock on September 2, 2026 in open-market transactions under a Rule 10b5-1 trading plan at a weighted average price of $117.19 per share.

After these sales, an entity associated with Japan Post continued to indirectly hold 50,687,690 shares. The shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, and several related parties, including Japan Post, may be deemed to beneficially own them but expressly disclaim beneficial ownership except to the extent of any pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 13,500 shares

Net Sell 1 txn

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 13,500 shs ($1.58M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	13,500	$117.19	$1.58M

Holdings After Transaction: Common Stock — 50,687,690 shares (Indirect, See footnote)

Footnotes (2)

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 $116.67 to $117.50 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.

Key Figures

Shares sold: 13,500 shares Weighted average sale price: $117.19 per share Sale price range: $116.67 to $117.50 per share +2 more

5 metrics

Shares sold 13,500 shares Common stock sales reported for September 2, 2026

Weighted average sale price $117.19 per share Average price across multiple sale transactions on September 2, 2026

Sale price range $116.67 to $117.50 per share Range of prices for the multiple sale transactions on September 2, 2026

Indirect holdings after transaction 50,687,690 shares Common stock indirectly held after the reported sales

Number of sale transactions reported 1 transaction row Single non-derivative sale entry in this Form 4

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"

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"

Rule 10b5-1 trading plan regulatory

"transactions were made under a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

FAQ

Who sold AFL (AFL) shares in this Form 4 filing and in what capacity?

The reporting person is Japan Post Holdings Co., Ltd., listed as a ten percent owner of AFL. The reported shares are held indirectly through J&A Alliance Holdings Corporation, acting as trustee of the J&A Alliance Trust.

How many AFL (AFL) shares were sold and on what date?

An entity associated with Japan Post sold 13,500 shares of AFL common stock on September 2, 2026. These were reported as open-market or private sale transactions of non-derivative common stock.

What was the sale price range for the AFL (AFL) shares in this Form 4?

The filing reports a weighted average price of $117.19 per share. Footnote disclosure states the shares were sold in multiple transactions at prices ranging from $116.67 to $117.50 per share.

How many AFL (AFL) shares does the reporting structure hold after the sale?

After the reported transactions, an entity associated with Japan Post indirectly held 50,687,690 shares of AFL common stock. These shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust.

Was the AFL (AFL) insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing indicates the transactions were made under a Rule 10b5-1 trading plan, meaning the trades were executed pursuant to a pre-arranged plan rather than discretionary timing by the reporting person.

Does Japan Post fully own the AFL (AFL) shares reported in this filing?

The filing states that Japan Post and related parties may be deemed to beneficially own the shares held by the trust structure but expressly disclaim beneficial ownership of the reported securities except to the extent of any pecuniary interest in them.

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Available on EDGAR 09/04/2026 - 09:04 AM Accepted by SEC EDGAR 09/04/2026 - 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)
09/02/2026

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	09/02/2026		S		13,500	D	$117.19(1)	50,687,690	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 $116.67 to $117.50 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.

	/s/ Yuki Takemura, Senior General Manager, as attorney-in-fact for Kenji Meguro	09/04/2026
	** 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)