Japan Post (NYSE: AFL) affiliate sells 27,845 AFLAC shares in open market

Rhea-AI Filing Summary

Japan Post Holdings Co., Ltd., as a reporting person for AFLAC Inc., disclosed two open-market sales totaling 27,845 shares of AFLAC common stock on June 22, 2026. One block of 4,429 shares sold at a weighted average price of $117.46 per share, and another 23,416 shares sold at a weighted average price of $116.57 per share, across price ranges noted in the filing.

The shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, and Japan Post may be deemed to beneficially own them through its role as sole settlor and beneficiary. After these trades, the trust continued to hold over 50 million AFLAC shares indirectly, and all involved entities expressly disclaim beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 27,845 shares ($3,249,833)

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role null

Sold 27,845 shs ($3.25M)

Type	Security	Shares	Price	Value
Sale	Common Stock	23,416	$116.57	$2.73M
Sale	Common Stock	4,429	$117.46	$520K

Holdings After Transaction: Common Stock — 50,902,919 shares (Indirect, See footnote)

Footnotes (1)

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 $116.18 to $117.18 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. 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. The price reported represents the weighted average price of shares of Common Stock of the Issuer sold in multiple transactions at prices ranging from $117.20 to $117.72 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

First sale size: 4,429 shares First sale price: $117.46 per share Second sale size: 23,416 shares +2 more

5 metrics

First sale size 4,429 shares Open-market sale of AFLAC common stock on June 22, 2026

First sale price $117.46 per share Weighted average price; trades between $117.20 and $117.72

Second sale size 23,416 shares Open-market sale of AFLAC common stock on June 22, 2026

Second sale price $116.57 per share Weighted average price; trades between $116.18 and $117.18

Total shares sold 27,845 shares Net shares sold across both reported transactions

Key Terms

open-market sale, weighted average price, beneficially own, indirect ownership, +1 more

5 terms

open-market sale financial

"two open-market sales totaling 27,845 shares of AFLAC common stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

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 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.

indirect ownership financial

"The reported securities are held directly by J&A Alliance Holdings Corporation"

pecuniary interest financial

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/23/2026 - 04:05 PM Accepted by SEC EDGAR 06/23/2026 - 04:05 PM 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

X

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)
06/22/2026

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	06/22/2026		S		23,416	D	$116.57(1)	50,902,919	I	See footnote(2)
Common Stock	06/22/2026		S		4,429	D	$117.46(3)	50,898,490	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 $116.18 to $117.18 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 $117.20 to $117.72 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 Nobuyasu Kato	06/23/2026
	** 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)

FAQ

What did Japan Post Holdings report in this AFL (AFLAC Inc) Form 4?

Japan Post Holdings reported two open-market sales totaling 27,845 AFLAC common shares. The trades occurred on June 22, 2026, and were executed at weighted average prices around $116–$117 per share through a trust vehicle described in the footnotes.

How many AFLAC shares were sold in each transaction reported by Japan Post?

The filing shows one sale of 4,429 AFLAC common shares and another of 23,416 shares. Together these open-market transactions total 27,845 shares, executed at different weighted average prices disclosed in the Form 4 details and accompanying footnotes.

At what prices were the AFLAC shares sold in Japan Post’s Form 4?

One transaction reported a weighted average sale price of $117.46 per share, with trades between $117.20 and $117.72. The other reported $116.57 per share, with trades between $116.18 and $117.18, reflecting multiple executions within stated ranges.

Who actually holds the AFLAC shares related to Japan Post’s Form 4 filing?

The reported AFLAC shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Japan Post may be deemed a beneficial owner through its role as sole settlor and beneficiary, as described in the detailed ownership footnote.

Do Japan Post and related entities claim full beneficial ownership of these AFL shares?

No. The filing states that General Incorporated Association J&A Alliance, Kenji Sano, Tetsuya Numaguchi and Japan Post each expressly disclaim beneficial ownership of the reported AFLAC securities, except to the extent of their pecuniary interest in the trust-held shares.

Were the AFLAC share sales by Japan Post’s affiliated trust routine open-market transactions?

Yes. Both entries are coded as “S” transactions, described as sales in the open market or private transactions. The Form 4 characterizes them as open-market sales of AFLAC common stock executed through multiple trades within specified price ranges.