Japan Post Holdings Co., Ltd., a major shareholder and insider of Aflac Inc., sold 21,431 AFL shares in an open-market transaction on May 13, 2026, at $115.25 per share, for total proceeds of about $2.47 million. Because Japan Post is not a typical executive insider but a strategic holder, its trades can matter more as signals of portfolio rebalancing or a gradual reduction of a long-standing position rather than a one-off personal sale. This sale also fits a clear near-term pattern. Japan Post sold AFL shares on each of the three prior trading days disclosed—about $712,000 on May 11 and about $686,000 on May 12—before the larger $2.47 million sale on May 13. A cluster of consecutive sales can indicate an orderly divestment process, especially for large holders who often spread transactions over multiple days to manage execution. Other insider activity in the past 30 days includes a smaller sale by director Arthur Reginald Collins on May 14 worth about $268,000. Compared with that transaction, Japan Post’s repeated sales represent the more notable recent insider activity, given both the dollar amounts and the multi-day cadence.