Japan Post unit trims 30,000 AFLAC (NYSE: AFL) shares in open-market sales

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Japan Post Holdings Co., Ltd., as a ten percent owner of AFLAC Inc, reported indirect open-market sales of AFLAC common stock through a related trust structure. An entity called J&A Alliance Holdings Corporation, acting as trustee of the J&A Alliance Trust, sold a total of 30,000 shares in two transactions on June 16, 2026 at weighted average prices of $117.79 and $117.24 per share. The footnotes state that prices reflect weighted averages over multiple trades in ranges from $116.49 to $118.15 per share and that several related parties, including Japan Post, may be deemed to beneficially own the securities but expressly disclaim beneficial ownership beyond their pecuniary interest.

Insights

Japan Post-related entity reported routine open-market sales totaling 30,000 AFLAC shares.

The filing shows a Japan Post–associated trust entity selling 30,000 shares of AFLAC common stock in open-market transactions on June 16, 2026. The weighted average sale prices were around $117 per share across two price ranges.

These are straightforward sale transactions coded "S" with no derivative exercises or gifts. The positions are held indirectly through a trust and related entities, and the parties explicitly disclaim beneficial ownership beyond their pecuniary interest. There is no indication of a trading plan in the excerpt.

Because the filing does not quantify total ownership changes as a percentage or show related derivatives, the economic significance of this reduction is hard to gauge from this document alone. Based on the information provided, the transactions appear as routine portfolio activity rather than a clearly thesis-changing move.

Insider Trade Summary 10b5-1

Net Seller: 30,000 shares ($3,521,756)

Net Sell 2 txns

Insider Japan Post Holdings Co., Ltd.

Role null

Sold 30,000 shs ($3.52M)

Type	Security	Shares	Price	Value
Sale	Common Stock	21,716	$117.24	$2.55M
Sale	Common Stock	8,284	$117.79	$976K

Holdings After Transaction: Common Stock — 50,964,219 shares (Indirect, See footnote)

Footnotes (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 $116.49 to $117.48 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 $117.50 to $118.15 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 block): 8,284 shares Price (first block): $117.79 per share Shares sold (second block): 21,716 shares +2 more

5 metrics

Shares sold (first block) 8,284 shares Open-market sale of AFLAC common stock at $117.79 weighted average

Price (first block) $117.79 per share Weighted average sale price for 8,284 AFLAC shares

Shares sold (second block) 21,716 shares Open-market sale of AFLAC common stock at $117.24 weighted average

Price (second block) $117.24 per share Weighted average sale price for 21,716 AFLAC shares

Total shares sold 30,000 shares Net open-market sales reported in transaction summary

Key Terms

weighted average price, beneficially own, trustee, pecuniary interest, +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.

trustee financial

"held directly by J&A Alliance Holdings Corporation ("J&A Holdings"), 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.

pecuniary interest financial

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

open-market sale financial

"transaction_action": "open-market sale""

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.

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Form 4 Insider Transactions: What Each Field Means →

06/18/2026 - 09:19 AM

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).

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)
06/16/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/16/2026		S		21,716	D	$117.24⁽¹⁾	50,964,219	I	See footnote⁽²⁾
Common Stock	06/16/2026		S		8,284	D	$117.79⁽³⁾	50,955,935	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 $116.49 to $117.48 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 $117.50 to $118.15 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	06/18/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Japan Post report in AFL (AFLAC Inc)?

Japan Post reported indirect open-market sales of 30,000 AFLAC common shares on June 16, 2026. The trades were executed via a trust structure, in two blocks at weighted average prices near $117 per share, using transaction code S for open-market sales.

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

The filing shows weighted average sale prices of $117.79 and $117.24 per AFLAC share. Footnotes state the actual individual trades occurred in ranges from $116.49 to $117.48, and from $117.50 to $118.15, with detailed breakdowns available on request.

How many AFLAC (AFL) shares were sold in each reported transaction?

Two transactions were reported: 8,284 AFLAC common shares sold at a weighted average price of $117.79, and 21,716 shares sold at a weighted average price of $117.24. Together, these open-market sales total 30,000 shares disposed on June 16, 2026.

Who actually holds the AFLAC (AFL) shares linked to Japan Post in this filing?

The reported AFLAC shares are held directly by J&A Alliance Holdings Corporation as trustee of the J&A Alliance Trust. Several related parties, including Japan Post, may be deemed beneficial owners but expressly disclaim ownership beyond their pecuniary interests in the reported securities.

Is this AFL (AFLAC Inc) Form 4 a direct sale by Japan Post?

The sales were executed by J&A Alliance Holdings Corporation as trustee for the J&A Alliance Trust, not by Japan Post personally. Japan Post may be deemed a beneficial owner as sole settlor and beneficiary of the trust but disclaims beneficial ownership except for its pecuniary interest.