AFLAC INC — Director's Dealing 2014

May 29, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AFLAC INC (AFL)
CIK: 0000004977
Period of Report: 2014-05-28

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-28	Common Stock	M	20000.0	$47.25	Acquired	276720	Direct
2014-05-28	Common Stock	F	17661.0	$60.95	Disposed	259059	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-28	Employee Stock Option (right to buy)	$47.25	M	20000.0	Disposed	2016-02-14	Common Stock (20000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	60	Indirect
Common Stock	11700	Indirect
Common Stock	31233	Indirect
Common Stock	54	Indirect
Common Stock	3651	Indirect