Aflac (NYSE: AFL) top holder Japan Post sells 14,200 shares

Rhea-AI Filing Summary

AFLAC INC (AFL) reported that major shareholder Japan Post Holdings Co., Ltd., a more than ten percent owner, indirectly sold shares of Aflac common stock under a Rule 10b5-1 trading plan. On 2026-08-18, entities associated with Japan Post sold 13,610 shares at a weighted average price of $121.91 per share in multiple trades within a price range of $121.55–$122.55, and an additional 590 shares at a weighted average price of $122.65 per share within a price range of $122.56–$122.74. The reported securities are held directly by J&A Alliance Holdings Corporation, as trustee of the J&A Alliance Trust, and Japan Post and related parties may be deemed to beneficially own these shares but expressly disclaim beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 14,200 shares

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 14,200 shs ($1.73M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	13,610	$121.91	$1.66M
Sale	Common Stock F3, F2	590	$122.65	$72K

Holdings After Transaction: Common Stock — 50,830,490 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 $121.55 to $122.55 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 $122.56 to $122.74 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): 13610 shares Shares sold (second transaction): 590 shares Total shares sold: 14200 shares +2 more

5 metrics

Shares sold (first transaction) 13610 shares Indirect sale of AFLAC common stock on 2026-08-18 at weighted average $121.91

Shares sold (second transaction) 590 shares Indirect sale of AFLAC common stock on 2026-08-18 at weighted average $122.65

Total shares sold 14200 shares Aggregate of reported indirect sales on 2026-08-18 per transaction summary

Weighted average price (first sale) $121.91 per share Multiple trades within a $121.55–$122.55 range for 13,610 shares

Weighted average price (second sale) $122.65 per share Multiple trades within a $122.56–$122.74 range for 590 shares

Key Terms

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

4 terms

Rule 10b5-1 regulatory

"The filing indicates the transactions were made 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.

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.

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.

pecuniary interest financial

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

FAQ

What insider transactions did Japan Post report for AFLAC INC (AFL)?

Japan Post, as a more than ten percent owner, reported two indirect open-market sales of AFLAC common stock on 2026-08-18, totaling 14,200 shares through entities holding shares in trust-related structures.

How many AFLAC (AFL) shares were sold and at what prices in this Form 4?

Associated entities sold 13,610 shares at a weighted average price of $121.91 and 590 shares at $122.65. The actual trades occurred in price ranges of $121.55–$122.55 and $122.56–$122.74, respectively.

Were the AFLAC (AFL) stock sales by Japan Post under a Rule 10b5-1 plan?

Yes. The filing indicates the transactions were made under a Rule 10b5-1 trading plan. Such plans are pre-arranged trading programs, which can reduce the informational value of the exact timing of these sales for outside investors.

How is Japan Post’s ownership in AFLAC (AFL) structured in this filing?

The reported AFLAC shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Japan Post and certain related parties may be deemed to beneficially own these shares but disclaim ownership beyond their pecuniary interest.

Does the Form 4 state AFLAC (AFL) share holdings after Japan Post’s sales?

The reported transactions list no post-transaction share balance for these positions. The form focuses on the 14,200 shares sold and the trust-related ownership structure rather than detailing remaining holdings in this specific report.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/20/2026 - 09:00 AM Accepted by SEC EDGAR 08/20/2026 - 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 JAPAN 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)
08/18/2026

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	08/18/2026		S		13,610	D	$121.91(1)	50,831,080	I	See footnote(2)
Common Stock	08/18/2026		S		590	D	$122.65(3)	50,830,490	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 $121.55 to $122.55 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 $122.56 to $122.74 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	08/20/2026
	** 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)