Understanding why real-world events occur is important for both natural language processing and practical decision-making, yet direct-cause inference remains underexplored in evidence-rich settings. To address this gap, we organized SemEval-2026 Task 12: Abductive Event Reasoning (AER). The task asks systems to identify the most plausible direct cause of a target event from supporting evidence. We formulate AER as an evidence-grounded multiple choice benchmark that captures key challenges of real-world causal reasoning, including distributed evidence, indirect background factors, and semantically related but non-causal distractors. The shared task attracted 122 participants and received 518 submissions. This paper presents the task formulation, dataset construction pipeline, evaluation setup, and system results. AER provides a focused benchmark for abductive reasoning over real-world events and highlights challenges for future work on causal reasoning and multi-document understanding.