Japan Post Holdings Co., Ltd. 4

What Happened
Japan Post Holdings Co., Ltd. (reported as a 10% owner) sold 14,200 shares of Aflac Inc. common stock in an open-market transaction on March 25, 2026. The weighted-average sale price was reported as $107.03 per share, for total proceeds of approximately $1,519,826. This was a sale (not a purchase) and thus is generally considered a routine disposition rather than a bullish signal.

Key Details

• Transaction date: March 25, 2026 (filed March 27, 2026). Filing appears within the standard two-business-day Form 4 window.
• Price: Weighted average $107.03 per share (individual trades ranged from $106.345 to $107.34; the filer can provide a breakdown on request).
• Shares sold: 14,200; Proceeds: ~$1,519,826.
• Shares owned after transaction: Not specified in the filing.
• Footnotes: F1 explains the reported weighted-average price and range; F2 explains the shares are held directly by J&A Alliance Holdings as trustee of the J&A Alliance Trust and describes who may be deemed to beneficially own the trust holdings, with express disclaimers of ownership except to the extent of pecuniary interest.
• Filing timeliness: Filed March 27 for a March 25 trade — appears timely.

Context
This filing involves a 10% owner (an institutional/related-party holder) rather than an individual executive. Such sales can reflect portfolio or estate/trust management decisions and do not necessarily indicate management sentiment about the company. The F2 disclosure clarifies the ownership structure (trustee and settlor/beneficiary relationships) and the limited beneficial-ownership disclaimers.