Released yesterday, version 11.4.402.287 addresses security, performance and stability issues in the previous versions of Flash. Users are encouraged to install the new Flash as soon as possible.
Note that at the time of this post, the Flash Player Update Announcement on Adobe’s site shows the wrong version in the first paragraph. It should show the new version as 11.4.402.287 but instead shows it as 11.4.402.278.