Japan Post unit sells 20,000 Aflac shares

A 10% owner affiliated with Japan Post sold 20,000 AFL shares under a Rule 10b5-1 plan while retaining an indirect position of over 50.6 million shares.

Rhea-AI Filing Summary

AFLAC INC (AFL) reported that major shareholder Japan Post Holdings Co., Ltd., through an associated trust structure, sold 20,000 shares of Aflac common stock on September 3, 2026 in an open-market transaction under a Rule 10b5-1 trading plan at a weighted average price of $118.49 per share. After this sale, entities associated with Japan Post indirectly held 50,667,690 shares of Aflac common stock, with beneficial ownership expressly disclaimed except to the extent of any pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 20,000 shares

Net Sell 1 txn

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 20,000 shs ($2.37M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	20,000	$118.49	$2.37M

Holdings After Transaction: Common Stock — 50,667,690 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 $118.23 to $119.00 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: 20,000 shares Weighted average sale price: $118.49 per share Sale price range: $118.23–$119.00 per share +2 more

5 metrics

Shares sold 20,000 shares Common stock sale on September 3, 2026 by Japan Post–affiliated holder

Weighted average sale price $118.49 per share 20,000 AFL shares sold on September 3, 2026

Sale price range $118.23–$119.00 per share Multiple trade prices within the September 3, 2026 sale

Shares held after transaction 50,667,690 shares Indirect holdings associated with Japan Post following the sale

Form type Form 4 Insider transaction report for AFLAC INC common stock

Key Terms

Rule 10b5-1 trading plan, weighted average price, beneficially own, pecuniary interest, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"The sale was executed 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.

weighted average price financial

"The price reported represents the weighted average price of shares"

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 regulatory

"each may be deemed to beneficially own the securities held"

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.

pecuniary interest financial

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

trustee regulatory

"held directly by J&A Alliance Holdings Corporation in its capacity as the trustee of the 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.

FAQ

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

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

AFLAC INC disclosed that an entity associated with Japan Post Holdings Co., Ltd. sold 20,000 shares of Aflac common stock on September 3, 2026 in an open-market transaction at a weighted average price of $118.49 per share.

How many AFL shares does the Japan Post-affiliated holder own after this transaction?

Following the reported sale, entities associated with Japan Post indirectly held 50,667,690 shares of AFLAC INC common stock. The filing states that Japan Post and related parties disclaim beneficial ownership of these securities except to the extent of any pecuniary interest.

Was the September 3, 2026 AFL insider sale under a Rule 10b5-1 trading plan?

Yes. The Form 4 indicates that the reported sale of 20,000 AFL shares on September 3, 2026 was made under a Rule 10b5-1 trading plan, meaning the trades were executed pursuant to a pre-arranged trading arrangement.

What was the price range for the 20,000 AFL shares sold on September 3, 2026?

The weighted average price for the 20,000 AFL shares sold on September 3, 2026 was $118.49 per share. The shares were sold in multiple transactions at prices ranging from $118.23 to $119.00 per share.

Who actually holds the AFL shares reported in Japan Post’s Form 4 filing?

The reported AFL shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Various parties, including Japan Post, may be deemed to beneficially own these securities, but each expressly disclaims beneficial ownership except for its pecuniary interest.

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

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Available on EDGAR 09/08/2026 - 09:00 AM EDT Accepted by SEC EDGAR 09/08/2026 - 09:00 AM EDT 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)
09/03/2026

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	09/03/2026		S		20,000	D	$118.49(1)	50,667,690	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 $118.23 to $119.00 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	09/08/2026
	** 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)