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Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

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Item 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market Information

Aflac Incorporated's common stock is principally traded on the New York Stock Exchange under the symbol AFL.

Holders

As of February 16, 2026, there were 75,463 holders of record of the Company's common stock.

Dividends

For a summary of dividends paid to shareholders in 2025 and 2024 and potential restrictions on the Company's ability to pay future dividends, see the Liquidity and Capital Resources section of Item 7. MD&A.

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Stock Performance Graph

The following graph compares the five-year performance of the Company's common stock to the Standard & Poor's 500 (S&P 500) Index and the Standard & Poor's 500 Life and Health Insurance (S&P 500 Life and Health Insurance) Index. The S&P 500 Life and Health Insurance Index includes: Aflac Incorporated, Globe Life Inc., MetLife, Inc., Principal Financial Group, Inc. and Prudential Financial, Inc.

(K2-4) Total Return Line Graph 2025.jpg

Performance Graphic Index

December 31,

202020212022202320242025
Aflac Incorporated100.00134.56170.03199.58255.62278.50
S&P 500100.00128.71105.40133.10166.40196.16
S&P 500 Life & Health Insurance100.00136.68150.82157.83189.87201.00

Copyright© 2026 Standard & Poor’s, a division of S&P Global. All rights reserved.

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Issuer Purchases of Equity Securities

During the year ended December 31, 2025, the Parent Company repurchased shares of its common stock as follows:

PeriodTotal Number of Shares PurchasedAverage Price Paid Per ShareTotal Number of Shares Purchased as Part of Publicly Announced Plans or ProgramsMaximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
January 1 - January 312,698,784$104.832,698,78444,618,770
February 1 - February 283,230,149104.372,835,98041,782,790
March 1 - March 312,965,821108.232,961,98138,820,809
April 1 - April 302,066,573106.682,066,57336,754,236
May 1 - May 313,421,623104.893,420,32133,333,915
June 1 - June 302,431,870102.922,428,90830,905,007
July 1 - July 3100.00030,905,007
August 1 - August 314,346,516106.094,346,516126,558,491
September 1 - September 304,989,921108.134,984,848121,573,643
October 1 - October 312,098,587109.262,098,587119,475,056
November 1 - November 302,393,020111.962,392,998117,082,058
December 1 - December 312,761,491109.832,758,014114,324,044
Total33,404,355(1)$106.9332,993,510114,324,044(2)

(1) During the year ended December 31, 2025, 410,845 shares were purchased in connection with income tax withholding obligations related to the vesting of restricted-share-based awards during the period.

(2) The total remaining shares available for purchase at December 31, 2025, consisted of 14,324,044 shares related to a 100,000,000 share repurchase authorization by the board of directors announced in November 2022 and 100,000,000 shares related to a 100,000,000 share repurchase authorization by the board of directors announced in August 2025.

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