Aflac (AFL) CFO Files Form 4 Reporting Sales on 09/23/2025

Rhea-AI Filing Summary

Max K. Broden, Sr. EVP and CFO of Aflac Incorporated (AFL), filed a Form 4 reporting insider transactions dated 09/23/2025. The filing lists a transaction coded F disposing of 33 shares at a price of $108.23. The form shows 339 shares beneficially owned following the reported transaction(s). The filing also includes an entry showing Common Stock 130,353 D (disposition) on the form. The Form 4 was signed for Max K. Broden by Cathryn S. Smitherman on 09/25/2025.

Positive

• None.

Negative

• Insider disposals are reported, including a sale of 33 shares at $108.23 and a separate disposition line of 130,353 shares (both marked as disposals).
• Post-transaction beneficial ownership is low as reported: 339 shares beneficially owned following the reported transaction(s).

Insights

Financial Analyst

TL;DR: Insider sale(s) reported by Aflac CFO; modest explicit retained ownership shown.

The Form 4 filed for Max K. Broden documents insider disposals on 09/23/2025 including a reported sale of 33 shares at $108.23 and a separate disposition line showing 130,353 shares sold. The filing states 339 shares were beneficially owned after the reported transaction(s). These disclosures are routine Section 16 reporting of officer transactions and provide transparent record of recent liquidity events by a senior executive.

Corporate Governance Expert

TL;DR: Officer reported sales are disclosed as required; filings aid governance transparency.

The submission by Max K. Broden, listed as Sr. EVP and CFO, meets Section 16 reporting requirements by disclosing share dispositions. The form is signed on behalf of the reporting person and identifies indirect ownership aspects (spouse) and post-transaction beneficial ownership. This record supports governance and compliance oversight but does not itself explain motives or material impact beyond disclosure of the transactions.

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).

1. Name and Address of Reporting Person^*

Broden Max

(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)
	Sr. EVP, CFO

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

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	09/23/2025		F		33	D	$108.23	339	I	Spouse
Common Stock								130,353	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

Explanation of Responses:

Remarks:

	By: Cathryn S. Smitherman For: Max K. Broden	09/25/2025
	** 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 AFL CFO Max Broden report on Form 4?

The Form 4 reports dispositions on 09/23/2025, including a sale of 33 shares at $108.23 and a separate disposal entry of 130,353 shares.

How many shares did Max Broden report owning after the transactions on the Form 4?

The filing shows 339 shares beneficially owned following the reported transaction(s).

When was the Form 4 for AFL filed and who signed it?

The Form 4 was signed on behalf of Max K. Broden by Cathryn S. Smitherman on 09/25/2025.

What is the reporting person's role at AFL in the Form 4?

The reporting person is listed as Max K. Broden, Sr. EVP, CFO of Aflac Incorporated.

Does the Form 4 indicate indirect ownership?

Yes. The filing references indirect ownership related to a spouse in the table entries.