Japan Post sells 13,600 Aflac shares

A ten percent owner associated with AFL sold 13,600 indirectly held shares via a Rule 10b5-1 plan through a trust structure.

Rhea-AI Filing Summary

AFLAC INC (AFL) had indirect insider sales reported by Japan Post Holdings Co., Ltd. on September 8, 2026, totaling 13,600 shares of common stock under an affirmed Rule 10b5-1 trading plan. The shares were sold in two tranches at weighted average prices with specified price ranges.

The securities are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust, with multiple related entities, including Japan Post, potentially deemed beneficial owners, all expressly disclaiming beneficial ownership except to the extent of their pecuniary interests.

Insider Trade Summary 10b5-1

Net Seller: 13,600 shares

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role 10% Owner

Sold 13,600 shs ($1.57M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2	11,500	$115.32	$1.33M
Sale	Common Stock F3, F2	2,100	$116.11	$244K

Holdings After Transaction: Common Stock — 50,639,090 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 $114.86 to $115.86 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 $115.865 to $116.79 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): 11,500 shares Weighted average price (first transaction): $115.32 per share Shares sold (second transaction): 2,100 shares +4 more

7 metrics

Shares sold (first transaction) 11,500 shares Common stock sale reported for September 8, 2026

Weighted average price (first transaction) $115.32 per share 11,500-share sale; individual trades from $114.86 to $115.86

Shares sold (second transaction) 2,100 shares Common stock sale reported for September 8, 2026

Weighted average price (second transaction) $116.11 per share 2,100-share sale; trades from $115.865 to $116.79

Total shares sold 13,600 shares Net shares sold across both reported transactions

Transaction date September 8, 2026 Date of both reported sales of AFL common stock

Rule 10b5-1 plan status Affirmed Filing indicates transactions were made under a Rule 10b5-1 trading plan

Key Terms

weighted average price, beneficially own, pecuniary interest, trustee, +1 more

5 terms

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.

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.

pecuniary interest financial

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

trustee financial

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

ten percent owner regulatory

"Japan Post Holdings Co., Ltd. is identified as a ten percent owner of AFLAC INC"

FAQ

Who is the insider selling AFL (AFLAC INC) shares in this Form 4?

The reporting person is Japan Post Holdings Co., Ltd., identified as a ten percent owner of AFLAC INC. The reported sales involve shares held indirectly through J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust.

How many AFL shares did the reporting person sell on September 8, 2026?

On September 8, 2026, entities associated with the reporting person sold a total of 13,600 shares of AFL common stock, consisting of 11,500 shares in one transaction and 2,100 shares in another.

At what prices were the AFL shares sold in this Form 4?

For the 11,500-share sale, the weighted average price was $115.32, with individual trades between $114.86 and $115.86 per share. For the 2,100-share sale, the weighted average price was $116.11, with trades between $115.865 and $116.79 per share.

Were the AFL share sales made under a Rule 10b5-1 trading plan?

Yes. The filing affirms that the reported transactions were made under a Rule 10b5-1 trading plan, indicating they were executed pursuant to a pre-established trading arrangement.

How are the AFL shares held that are reported in this Form 4?

The reported securities are held directly by J&A Alliance Holdings Corporation, acting as trustee of the J&A Alliance Trust. Related entities, including General Incorporated Association J&A Alliance and certain individuals, may be deemed beneficial owners through their ownership interests.

What is Japan Post Holdings Co., Ltd.’s relationship to the AFL shares in this filing?

Japan Post Holdings Co., Ltd. may be deemed to beneficially own the AFL shares held by J&A Alliance Holdings as trustee of the Trust because it is the sole settlor and beneficiary of the Trust, while expressly disclaiming beneficial ownership except to the extent of its pecuniary interest.

Does the Form 4 state the exact number of AFL shares held after these sales?

No. The transactions report the 13,600 shares sold but do not state the total number of AFL shares held by the reporting person or related entities after these sales.

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Available on EDGAR 09/10/2026 - 09:15 AM Accepted by SEC EDGAR 09/10/2026 - 09:15 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 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)
09/08/2026

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	09/08/2026		S		11,500	D	$115.32(1)	50,641,190	I	See footnote(2)
Common Stock	09/08/2026		S		2,100	D	$116.11(3)	50,639,090	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 $114.86 to $115.86 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 $115.865 to $116.79 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	09/10/2026
	** 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)