BEAVER STEVEN KENT 4: 7,387 shares of AFL ($839,015)

Our Take

→Beaver's sale of roughly $840K represents a modest trim of his overall holdings—meaningful enough to signal confidence adjustments, but not a panic exit. For Aflac, where leadership credibility around execution matters given the company's multi-year pivot away from Japan dependence, insider selling during a period of relative stock stability suggests management sees fair value rather than desperation. The timing deserves monitoring: if similar moves continue as the company reports on its Japanese operations' performance, it could indicate management doubts about near-term momentum.