secwatch.observer — SEC 8-K summary
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Issuer:     AFLAC INC (AFL)
CIK:        0000004977
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0000004977-23-000174
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Aflac President and COO Frederick Crawford to retire Sept 30, 2024; transition to EVP in Jan 2024
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- Crawford steps down as President/COO Dec 31, 2023; becomes EVP Jan 1 through retirement.
- Annual base salary set at $997,500 from Oct 30, 2023 through Sept 30, 2024.
- Outstanding PBRS grants (43,479 shares from Feb 2022, 42,978 from Feb 2023) will vest on original schedule based on actual performance.
- No future equity grants; deferred compensation plan becomes fully vested on retirement date plus 15% 2023 contribution.
- Lump sum COBRA payment of $36,537 for 18 months of continued health coverage.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4977/000000497723000174/0000004977-23-000174-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4977/000000497723000174/afl-20231030.htm
  HTML page:      https://secwatch.observer/filing/0000004977-23-000174

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