Aflac's 3-year price return of 81.5% outpaces the S&P 500 (^GSPC) by +19.0 percentage points, well below the 65pp threshold required to trigger an AGAINST vote for a director with strong positive absolute returns; no overboarding, attendance, or independence concerns apply.

Stock performance does not trigger the TSR threshold (gap of +19.0pp vs. ^GSPC, threshold is 65pp); Bowers holds two public board seats (Aflac and Exelon), which is within the non-CEO limit; attendance is reported as satisfactory.

TSR trigger does not apply; Collins holds three public board seats (Aflac, KB Home, RLJ Lodging Trust), within the four-seat limit; no independence, attendance, or qualifications concerns identified.

Forrester joined the board in 2025, within the 24-month exemption window, so he is fully exempt from the TSR trigger; his investment management background is directly relevant to Aflac's needs.

Director joined in 2023, less than 24 months before the meeting, placing her within or at the edge of the exemption window; regardless, the TSR trigger does not fire given Aflac's strong outperformance vs. ^GSPC; her public health and Japan market expertise is relevant.

TSR trigger does not apply; Kenny's investment management and fixed income background is directly relevant to Aflac's large investment portfolio; no overboarding or other policy concerns identified.

TSR trigger does not apply; Kiser holds three public board seats (Aflac, Jacobs Engineering, Adtalem), within the limit; her cybersecurity and technology expertise is valuable given Aflac's 2025 cyber incident.

TSR trigger does not apply; Lloyd holds two public board seats (Aflac and Churchill Downs), within the limit; as a retired Ernst & Young audit partner and CPA she meets the financial expertise requirement for the Audit and Risk Committee.

TSR trigger does not apply; Mori's extensive Japan regulatory and financial expertise is directly relevant to Aflac's largest business segment; no overboarding or other concerns identified.

TSR trigger does not apply; Moskowitz's forty-year actuarial career in the insurance industry is highly relevant; he holds only one outside public board seat (Aflac) and serves on appropriate committees with demonstrated financial expertise.

TSR trigger does not apply; Rohrer's academic leadership and financial management background provides relevant governance experience; no overboarding, attendance, or independence concerns identified.