AFLAC INC — Director's Dealing 2011

Feb 25, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2011-02-16

Reporting Person: CLONINGER KRISS III (Director, Pres. Aflac Incorporated/CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-16	Common Stock	G	4000	—	Disposed	233565	Direct
2011-02-23	Common Stock	M	110000	$22.13	Acquired	343565	Direct
2011-02-23	Common Stock	F	69850	$57.57	Disposed	273715	Direct
2011-02-24	Common Stock	G	4000	—	Disposed	269715	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-23	Employee Stock Option (right to buy)	$22.13	M	110000	Disposed	2019-02-10	Common Stock (110000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	8632	Indirect
Common Stock	56920	Indirect
Common Stock	28687	Indirect
Common Stock	50	Indirect
Common Stock	48201	Indirect