Aflac (AFL) EVP & CFO Japan reports option exercise and 3,452-share sale

Rhea-AI Filing Summary

Aflac Inc. executive Steven K. Beaver, EVP and CFO of Aflac Japan, reported an employee stock option exercise and related share sale. On 12/05/2025, he exercised an employee stock option to buy 3,452 shares of Aflac common stock at an exercise price of $28.965 per share, then sold 3,452 shares of common stock on the same date at a weighted average price of $109.2601 per share. The option covered 3,452 shares and, after the exercise, the remaining balance of that option position was reported as 0 derivative securities beneficially owned. Following these transactions, Beaver directly owned 43,860 shares of Aflac common stock.

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
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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).

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^*

BEAVER STEVEN KENT

(Last) (First) (Middle)

C/O AFLAC INCORPORATED

1932 WYNNTON ROAD

(Street)

COLUMBUS GA 31999

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AFLAC INC [ AFL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CFO Aflac Japan

3. Date of Earliest Transaction (Month/Day/Year)
12/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	12/05/2025		M		3,452	A	$28.965	47,312	D
Common Stock	12/05/2025		S		3,452	D	$109.2601(1)	43,860	D

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
Employee Stock Option (right to buy)	$28.965	12/05/2025		M			3,452	02/09/2019	02/09/2026	Common Stock	3,452	$0	0	D

Explanation of Responses:

1. The price is the weighted average sale price of the aggregate number of shares that were sold. These shares were sold in multiple transactions at prices ranging from $109.2601 to $109.265. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

Remarks:

	By: Brooke R. Phillips For: Steven K. Beaver	12/09/2025
	** 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.

FAQ

What insider transaction did Aflac (AFL) report for Steven K. Beaver?

Steven K. Beaver, EVP and CFO of Aflac Japan, reported exercising an employee stock option for 3,452 shares of Aflac common stock and selling 3,452 shares of common stock on 12/05/2025.

What prices were involved in Steven K. Beaver's Aflac (AFL) Form 4 transactions?

He exercised an employee stock option at an exercise price of $28.965 per share and sold the same 3,452 shares at a weighted average price of $109.2601 per share, with sale prices ranging from $109.2601 to $109.265.

How many Aflac (AFL) shares does Steven K. Beaver own after the reported transactions?

After the option exercise and stock sale, Steven K. Beaver reported direct beneficial ownership of 43,860 shares of Aflac common stock.

What happened to Steven K. Beaver's employee stock option on Aflac (AFL) shares?

The employee stock option with an exercise price of $28.965 covering 3,452 shares, exercisable from 02/09/2019 and expiring on 02/09/2026, was fully exercised, leaving 0 derivative securities beneficially owned from that grant.

What role does Steven K. Beaver hold at Aflac (AFL)?

Steven K. Beaver is reported as an officer of Aflac Inc., serving as EVP, CFO Aflac Japan.

Was the Aflac (AFL) insider sale reported as a single price or multiple prices?

The sale of 3,452 shares was reported using a weighted average sale price of $109.2601 per share, with individual trades executed between $109.2601 and $109.265 per share.