BEAVER STEVEN KENT 4

What Happened
Steven Beaver, EVP and CFO of Aflac Japan, reported an open-market sale of 7,387 Aflac (AFL) shares on February 20, 2026. The shares were sold at a weighted-average price of $113.58 per share for aggregate proceeds of approximately $839,015. This was a sale (not a purchase or option exercise), which is commonly routine insider selling and does not by itself indicate a change in company outlook.

Key Details

• Transaction date: 2026-02-20
• Transaction type: Open-market sale (Code S)
• Shares sold: 7,387; weighted-average price: $113.58; total proceeds: ~$839,015
• Price range: sales occurred in multiple transactions at prices from $113.58 to $113.605 (see footnote F1)
• Shares owned after transaction: Not specified in the provided filing excerpt
• Filing date: 2026-02-24 (compare to the Feb 20 transaction date; Section 16 filings are generally required within two business days)
• Footnote F1: The reported price is a weighted average; the filer will provide per-transaction price details on request.

Context
Sales by officers are often routine (for diversification, tax, or liquidity reasons) and shouldn't be taken alone as a signal about company performance. Retail investors should consider this disclosure alongside other insider trades, the insider’s prior trading patterns, and company fundamentals before drawing conclusions.