AFLAC (AFL) 10% Owner Japan Post Holdings Sells 13,600 Shares

What Happened
Japan Post Holdings Co., Ltd. (reported as a 10% owner) sold a total of 13,600 shares of Aflac Inc. (AFL) in open-market dispositions on September 14, 2026. The filing reports two lots: 9,545 shares sold at an average price of $116.62 (proceeds $1,113,138) and 4,055 shares sold at an average price of $117.02 (proceeds $474,516), for aggregate proceeds of $1,587,654. Transaction code: S (sale). This was a sale of existing shares, not a purchase or option exercise.

Key Details

• Transaction dates: 2026-09-14 (both sales); Form 4 filed 2026-09-16 (timely within the usual two-business-day window).
• Reported prices/ranges: first lot weighted average $116.62 (individual prices ranged $115.995–$116.99, per footnote F1); second lot weighted average $117.02 (individual prices ranged $117.00–$117.07, per footnote F3). The filer can provide a breakdown of the number of shares sold at each price on request.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Holder structure: the reported shares are held directly by J&A Alliance Holdings Corporation as trustee for the J&A Alliance Trust. Footnote F2 explains that General Incorporated Association J&A Alliance and two individuals may be deemed to beneficially own the trust securities, and Japan Post may be deemed a beneficial owner as sole settlor and beneficiary — each party disclaims beneficial ownership except to the extent of any pecuniary interest.
• Filing/transaction code: S = Sale. No indication of a 10b5-1 plan, tax withholding, gift, or option exercise in this filing.

Context
This filing documents institutional selling by a 10% owner via a trust structure rather than an executive or director trade. Institutional sales can reflect portfolio or trust management actions and do not, by themselves, indicate management sentiment about the company. The weighted-average price footnotes indicate the reported amounts cover multiple transactions executed across a small price range.