Japan Post Holdings Sells $1.41M of Aflac Stock Under 10b5-1 Plan

Insider Transaction Overview

On October 14, 2026, Japan Post Holdings Co., Ltd., a 10% beneficial owner of Aflac Inc. ($AFL), filed a Form 4 detailing open-market sales of common stock executed on October 12, 2026.

Key Transaction Details

• Shares Sold: 12,200 shares across two tranches:
  • 11,468 shares at a volume-weighted average price of $115.83 (range: $115.13 to $116.13).
  • 732 shares at a volume-weighted average price of $116.24 (range: $116.14 to $116.48).
• Total Consideration: Approximately $1.41 million.
• Pre-set Trading Plan: The transaction was executed under a Rule 10b5-1 trading plan.
• Ownership Structure: Shares are held indirectly via J&A Alliance Holdings Corporation in its capacity as trustee of the J&A Alliance Trust, where Japan Post is the sole settlor and beneficiary.

Market Impact & Significance

• Trading Significance: Low. The disposition of 12,200 shares represents less than 0.03% of Japan Post's reported stake of 50,344,940 shares.
• Context: Because this sale represents routine liquidity or portfolio rebalancing conducted under a pre-established Rule 10b5-1 plan, it does not suggest a meaningful change in Japan Post's long-term conviction or strategic commitment to Aflac.