Aflac DEF 14A: Executive Comp & Stock Awards Detailed

Ticker: AFL · Form: DEF 14A · Filed: 2024-03-21T00:00:00.000Z

Sentiment: neutral

Topics: proxy-statement, executive-compensation, governance

Related Tickers: AFL

TL;DR

Aflac's 2023 DEF 14A is out, showing exec pay and stock awards. Check it for governance details.

AI Summary

Aflac Inc. filed its DEF 14A on March 21, 2024, for the fiscal year ending December 31, 2023. The filing details executive compensation and other corporate governance matters. Key financial data related to pension and stock awards for both executive (PeoMember) and non-executive (NonPeoNeoMember) personnel are presented for the fiscal years 2021 through 2023.

Why It Matters

This filing provides transparency into how Aflac compensates its top executives and grants stock awards, which can influence investor decisions and employee morale.

Risk Assessment

Risk Level: low — This is a routine annual filing (DEF 14A) detailing corporate governance and executive compensation, not indicating new or unusual risks.

Key Numbers

2023 — Fiscal Year End (Primary year for reported data)
2022 — Previous Fiscal Year (Comparative data year)
2021 — Prior Fiscal Year (Comparative data year)

Key Players & Entities

AFLAC INC (company) — Filer
0000004977-24-000068.txt (document) — Filing document name
20240321 (date) — Filing date
20240506 (date) — Period of report
1231 (date) — Fiscal year end

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Proxy Statement, is used to solicit shareholder votes on important corporate matters, including the election of directors and executive compensation.

When was this DEF 14A filing submitted by Aflac Inc.?

Aflac Inc. filed this DEF 14A on March 21, 2024.

What fiscal period does this filing primarily cover?

This filing is for the fiscal year ending December 31, 2023.

What specific financial data related to compensation is detailed in the filing?

The filing details changes in actuarial present value of pension members, grant date fair value of stock awards, value of service costs and prior service costs of pension benefits, year-end value of stock awards, and changes in value of stock awards granted in prior years for both executive (PeoMember) and non-executive (NonPeoNeoMember) personnel.

What was Aflac's former company name and when did the change occur?

Aflac's former company name was AMERICAN FAMILY CORP, and the date of the name change was March 6, 1992.

From the Filing

0000004977-24-000068.txt : 20240321 0000004977-24-000068.hdr.sgml : 20240321 20240321094700 ACCESSION NUMBER: 0000004977-24-000068 CONFORMED SUBMISSION TYPE: DEF 14A PUBLIC DOCUMENT COUNT: 175 CONFORMED PERIOD OF REPORT: 20240506 FILED AS OF DATE: 20240321 DATE AS OF CHANGE: 20240321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AFLAC INC CENTRAL INDEX KEY: 0000004977 STANDARD INDUSTRIAL CLASSIFICATION: ACCIDENT & HEALTH INSURANCE [6321] ORGANIZATION NAME: 02 Finance IRS NUMBER: 581167100 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DEF 14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-07434 FILM NUMBER: 24769790 BUSINESS ADDRESS: STREET 1: 1932 WYNNTON RD CITY: COLUMBUS STATE: GA ZIP: 31999 BUSINESS PHONE: 7063233431 MAIL ADDRESS: STREET 1: 1932 WYNNTON ROAD CITY: COLUMBUS STATE: GA ZIP: 31999 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN FAMILY CORP DATE OF NAME CHANGE: 19920306 DEF 14A 1 afl-20240320.htm DEF 14A afl-20240320 DEF 14A 0000004977 FALSE 0000004977 2023-01-01 2023-12-31 iso4217:USD xbrli:pure 0000004977 2022-01-01 2022-12-31 0000004977 2021-01-01 2021-12-31 0000004977 2020-01-01 2020-12-31 0000004977 1 2023-01-01 2023-12-31 0000004977 ecd:PeoMember afl:ChangeInActuarialPresentValueOfPensionMember 2023-01-01 2023-12-31 0000004977 afl:GrantDateFairValueOfStockAwardsGrantedDuringFiscalYearMember ecd:PeoMember 2023-01-01 2023-12-31 0000004977 afl:ValueOfServiceCostsAndPriorServiceCostsOfPensionBenefitsMember ecd:PeoMember 2023-01-01 2023-12-31 0000004977 ecd:PeoMember afl:YearEndValueOfStockAwardsGrantedDuringFiscalYearMember 2023-01-01 2023-12-31 0000004977 afl:ChangeInValueOfStockAwardsGrantedInPriorYearsMember ecd:PeoMember 2023-01-01 2023-12-31 0000004977 afl:ChangeInValueOfVestedStockAwardsGrantedInPriorYearsMember ecd:PeoMember 2023-01-01 2023-12-31 0000004977 ecd:NonPeoNeoMember afl:ChangeInActuarialPresentValueOfPensionMember 2023-01-01 2023-12-31 0000004977 afl:GrantDateFairValueOfStockAwardsGrantedDuringFiscalYearMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000004977 afl:ValueOfServiceCostsAndPriorServiceCostsOfPensionBenefitsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000004977 ecd:NonPeoNeoMember afl:YearEndValueOfStockAwardsGrantedDuringFiscalYearMember 2023-01-01 2023-12-31 0000004977 afl:ChangeInValueOfStockAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000004977 afl:ChangeInValueOfVestedStockAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2023-01-01 2023-12-31 0000004977 ecd:PeoMember afl:ChangeInActuarialPresentValueOfPensionMember 2022-01-01 2022-12-31 0000004977 afl:GrantDateFairValueOfStockAwardsGrantedDuringFiscalYearMember ecd:PeoMember 2022-01-01 2022-12-31 0000004977 afl:ValueOfServiceCostsAndPriorServiceCostsOfPensionBenefitsMember ecd:PeoMember 2022-01-01 2022-12-31 0000004977 ecd:PeoMember afl:YearEndValueOfStockAwardsGrantedDuringFiscalYearMember 2022-01-01 2022-12-31 0000004977 afl:ChangeInValueOfStockAwardsGrantedInPriorYearsMember ecd:PeoMember 2022-01-01 2022-12-31 0000004977 afl:ChangeInValueOfVestedStockAwardsGrantedInPriorYearsMember ecd:PeoMember 2022-01-01 2022-12-31 0000004977 ecd:NonPeoNeoMember afl:ChangeInActuarialPresentValueOfPensionMember 2022-01-01 2022-12-31 0000004977 afl:GrantDateFairValueOfStockAwardsGrantedDuringFiscalYearMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0000004977 afl:ValueOfServiceCostsAndPriorServiceCostsOfPensionBenefitsMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0000004977 ecd:NonPeoNeoMember afl:YearEndValueOfStockAwardsGrantedDuringFiscalYearMember 2022-01-01 2022-12-31 0000004977 afl:ChangeInValueOfStockAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0000004977 afl:ChangeInValueOfVestedStockAwardsGrantedInPriorYearsMember ecd:NonPeoNeoMember 2022-01-01 2022-12-31 0000004977 ecd:PeoMember afl:ChangeInActuarialPresentValueOfPensionMember 2021-01-01 2021-12-31 0000004977 afl:GrantDateFairValueOfStockAwardsGrantedDuringFiscalYearMember ecd:PeoMember 2