<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934 (amendment No. 1)*
(Name of Issuer)
POWER-ONE, INC.
(Title of Class of Securities)
COMMON STOCK
par value $0.001
(CUSIP Number)
739308 10 4
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
David A. Knight, c/o Stephens Group, Inc.,
111 Center Street, Little Rock, AR 72201
(501) 377-2573
(Date of Event which Requires Filing of this Statement)
December 30, 1997
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE> 2
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stephens Group, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Arkansas
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
3,659,050 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
3,659,050 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,659,050 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC, CO
- --------------------------------------------------------------------------------
<PAGE> 3
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Jackson T. Stephens
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
22,000 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 429,928 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
22,000 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
429,928 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
451,928 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 4
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Bess C. Stephens
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 548,075 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
548,075 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
548,075 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 5
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Warren A. Stephens
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
331,421 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 490,422 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
331,421 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
490,422 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
821,843 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 6
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Wilton R. Stephens, Jr.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
364,363 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 553,687 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
364,363 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
553,687 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
918,050 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 7
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Elizabeth Stephens Campbell
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
304,362 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 366,871 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
304,362 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
366,871 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
671,233 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 8
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Jon E. M. Jacoby
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
1,239,776 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 364,425 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
1,239,776 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
364,425 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,604,201 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.4%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 9
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Vernon J. Giss
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 151,204 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
151,204 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
151,204 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 10
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
William Walker
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
PF
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
7,841 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
7,841 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,841 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 11
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Curtis F. Bradbury, Jr.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
156,816 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
156,816 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
156,816 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 12
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Douglas H. Martin
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
BK
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
109,771 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
109,771 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
109,771 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 13
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
I. Ernest Butler, Jr.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 90,000 shares
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
90,000 shares
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
<PAGE> 14
COVER PAGE, PART II
CUSIP NO. 739308 10 4
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Stephens, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- --------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [X]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Arkansas
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
225,926 shares
SHARES -------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY
------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
225,926 shares
PERSON ------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,926 shares
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[X]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
BD
- --------------------------------------------------------------------------------
<PAGE> 15
This Amendment 1 to Schedule 13D is filed to report the acquisition by
Stephens Inc. of additional shares of the Common Stock, $0.001 Par Value, of
Power-One, Inc. (the "Common Stock") in an amount that exceeds by more than one
percent (1%) of the outstanding Common Stock the number of shares of Common
Stock previously reported owned by Stephens Inc. on the Initial Schedule 13D
filing. The additional shares of the Common Stock were acquired by Stephens Inc.
from time to time on the market as a market maker for the Common Stock in the
NASDAQ market.
ITEM 2.
Except as set forth herein, there has been no material change to the
information disclosed in Item 2 of the Initial Schedule 13D filed by the
reporting persons with respect to their investment in the Common Stock.
Stephens Inc., an Arkansas corporation, is a second-tier, wholly-owned
subsidiary of Stephens Group, Inc. and is a broker-dealer firm registered with
the NASD. Stephens Inc. served as an underwriter in the initial public offering
of the Common Stock of Power-One. Stephens Inc. also maintains an inventory of
Power-One, Inc. Common Stock and is a market maker for the Power-One, Inc.
Common Stock. Stephens Inc.'s principal offices are located at 111 Center
Street, Little Rock, Arkansas 72201. During the past five years, Stephens Inc.
has not been convicted in any criminal proceeding. During the past five years,
Stephens Inc. has been subject to a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating activities subject to, federal
or state securities laws or finding any violation with respect to such laws in
the following proceedings:
(a) Stephens Inc. entered into a consent order on October 4, 1996 with
the NASD in NASD District 5, Matter Nos. CO5960094, CO5960040 in which the NASD
found that Stephens Inc. had failed to establish, maintain and enforce proper
supervisory procedures to prevent unsuitable trades or overconcentration of
securities in customer accounts, improper communications by unregistered
employees or through unregistered offices of the firm, improper communications
and excessive compensation in connection with the wholesale marketing of certain
mutual funds. Stephens Inc. agreed to engage an independent auditor to review
and recommend improvements in its supervisory systems and procedures and to
implement such improvements in an effort to prevent similar activities in the
future and consented to a fine in connection therewith.
(b) Stephens Inc. entered into a consent order on September 5, 1997 in
In the Matter of Stephens Inc., No. FW-2019 before the Securities and Exchange
Commission in which the Commission found that Stephens Inc.'s procedures for
obtaining consent from its advisory customers for transactions in securities in
which Stephens Inc. makes a market did not fully satisfy the requirements of
Section 206(3) of the Investment Advisers Act of 1940 and ordered that Stephens
Inc. cease and desist from its previous method of obtaining consent and utilize
only consents that fully satisfy the requirements of said Section 206(3).
(c) On August 11, 1997, the Chicago Board Options Exchange entered a
consent order In the Matter of Stephens Inc., File No. 97-0019, in which it
found that Stephens Inc.'s margin
<PAGE> 16
system had failed to accurately compute margin requirements for certain option
positions in customer accounts. Stephens Inc. agreed to engage independent
accountants to review its margin system and to make recommendations to prevent a
recurrence of inaccurate margin requirement computations, in an effort to assure
accurate pricing and margin calculations in the future, and Stephens Inc.
consented to a fine in connection therewith.
(d) In the Matter of Escambia County, Stephens Inc. and Bill Bethea,
NASD No. CO5950076, the NASD found that Stephens Inc. had failed to effectively
supervise one of its registered employees in the municipal finance business,
who, without the knowledge of Stephens Inc., had apparently paid a bribe to an
official of a public bond authority. Stephens Inc. consented to a fine in
connection therewith on or about November 15, 1995.
(e) On or about July 15, 1993, Stephens Inc. entered into a consent
order with the Vermont Securities Division, Vermont Securities Division Case No.
93-035-5 regarding Stephens Inc.'s relationship with a Vermont bank in
connection with sales of securities on the premises of the bank. Stephens Inc.
agreed to defray certain of Vermont Securities Division's administrative costs
in handling this matter and to comply with the requests of the Vermont
Securities Division regarding the manner in which it conducted its securities
business in relation with the bank.
(f) On or about February 1, 1995, Stephens Inc. entered into an
Administrative Order and Settlement Agreement with the Securities Division of
the Office of the Secretary of State of the Commonwealth of Massachusetts,
Securities Division Case No. E-94-108 in which Stephens Inc. consented to an
administrative fine and agreed to maintain policies and procedures to prevent
any repetition of an alleged sale of certain mutual fund shares to certain
purchasers in Massachusetts prior to registration of such shares in
Massachusetts.
(g) On or about October 23, 1996, Stephens Inc. entered into a letter
of consent with NASDR, in NASDR Case No. CO5960089, in which it consented to a
fine in connection with an allegation that Stephens Inc. had failed to include
one of its public finance assignments on a Form G-37 report filed with the
Municipal Securities Rulemaking Board ("MSRB").
(h) On or about May 8, 1997, Stephens Inc. entered into a letter of
consent with NASDR, in NASDR Case No. CO5970016, in which it consented to a fine
in connection with an allegation that it had failed to include two public
finance assignments on a Form G-37 report filed with the MSRB and that it had
failed to file two Form G-36 reports with the MSRB in connection with two
municipal finance assignments.
ITEM 3.
Stephens Inc. buys and sells shares of the Common Stock daily in its
role as a market maker for the Common Stock. As of December 30, 1997, the number
of shares of the Common Stock owned by Stephens Inc. exceeded by more than one
percent of the outstanding Common Stock the number of shares reported owned by
Stephens Inc. on the Initial Schedule 13D, which has resulted in the filing of
this Amendment 1 to Schedule 13D. As of December 30, 1997,
<PAGE> 17
Stephens Inc. owned 225,926 shares of the Common Stock. Those shares were
purchased on the market from time to time since October 20, 1997 at an average
price of approximately $13.875 per share, for a total cost of approximately
$3,135,000, which was obtained from the working capital of Stephens Inc.
ITEM 4.
The shares of Common Stock of Power-One, Inc., the acquisition of which
is reported on this Amendment 1 of Schedule 13D, were acquired for investment
and trading purposes and for the purpose of promoting an active market in the
Common Stock by Stephens Inc. as a market maker for the Common Stock and not for
any purpose of controlling or exercising control over Power-One, Inc.
ITEM 5.
The following table discloses the ownership of the Common Stock of
Power-One, Inc. by Stephens Group, Inc. and the beneficial ownership of other
Common Stock of Power-One, Inc. owned by or attributed to the Directors and
executive officers of Stephens Group, Inc. pursuant to SEC Rule 13d-3.
BENEFICIAL OWNERSHIP TABLE I
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
PERCENT OF POWER TO POWER TO
NAME NO. OF SHARES OUTSTANDING VOTE DISPOSE
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Stephens Group, Inc. 3,659,050 21.4% Sole Sole
- ------------------------------------------------------------------------------------------------------------------
Jackson T. Stephens 451,928 2.6%
including: 22,000 0.1% Sole Sole
429,928 2.5% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Bess C. Stephens 548,075 3.2% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Warren A. Stephens 821,843 4.8%
including: 331,421 1.9% Sole Sole
490,422 2.9% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Wilton R. Stephens, Jr. 918,050 5.4%
including: 364,363 2.1% Sole Sole
553,687 3.2% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Jon E. M. Jacoby 1,604,201 9.4%
including: 1,239,776 7.3% Sole Sole
364,425 2.1% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Vernon J. Giss 151,204 0.9% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
William Walker 7,841 * Sole Sole
- ------------------------------------------------------------------------------------------------------------------
I. Ernest Butler, Jr. 90,000 0.5% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Craig D. Campbell None
- ------------------------------------------------------------------------------------------------------------------
</TABLE>
*indicates less than 0.1%
<PAGE> 18
The following table discloses the beneficial ownership pursuant to SEC
Rule 13d-3 of Power-One, Inc. Common Stock by other Stephens family interests
and other employees of Stephens Group, Inc. or Stephens Inc. who invested in
Power-One prior to the initial public offering of its Common Stock and by
Stephens Inc.:
BENEFICIAL OWNERSHIP TABLE II
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------
PERCENT OF POWER TO POWER TO
NAME NO. OF SHARES OUTSTANDING VOTE DISPOSE
- ------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Elizabeth Stephens 671,233 3.9%
Campbell
including: 304,362 1.8% Sole Sole
366,871 2.2% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Pamela Stephens Rose 366,871 2.2% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
Curtis F. Bradbury, Jr. 156,816 0.9% Sole Sole
- ------------------------------------------------------------------------------------------------------------------
Douglas H. Martin 266,587 1.6%
109,771 0.6% Sole Sole
156,816 0.9% Shared Shared
- ------------------------------------------------------------------------------------------------------------------
K. Rick Turner 10,452 0.1% Sole Sole
- ------------------------------------------------------------------------------------------------------------------
C. Ray Gash 26,135 0.2% Sole Sole
- ------------------------------------------------------------------------------------------------------------------
Robert L. Schulte 13,067 0.1% Sole Sole
- ------------------------------------------------------------------------------------------------------------------
Michael B. Johnson 5,226 * Sole Sole
- ------------------------------------------------------------------------------------------------------------------
Gordon D. Grender and 78,408 0.5% Sole Sole
Amanda F. Grender,
JTWROS
==================================================================================================================
Stephens Inc. 225,926 1.3% Sole Sole
- ------------------------------------------------------------------------------------------------------------------
</TABLE>
*indicates less than 0.1%
Each person executing this Schedule 13D declares that the filing of
this statement on Schedule 13D shall not be construed as an admission that such
person is the beneficial owner of any securities covered by this statement, to
the fullest extent permitted by Rule 13d-4.
<PAGE> 19
For further information regarding the ownership of the Power-One Common
Stock by Stephens Inc., Stephens Group, Inc., other Stephens family interests,
and other current officers or directors of Stephens Group, Inc. who invested in
Power-One prior to its initial public offering, the following table discloses
the record holdings of the Common Stock of Power-One, Inc. by such persons as of
December 30, 1997, as follows:
RECORD OWNERSHIP
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------
PERCENTAGE
BENEFICIAL OWNERSHIP NUMBER OF
RECORD HOLDER ATTRIBUTED TO OF SHARES OUTSTANDING
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Stephens Group, Inc. Stephens Group, Inc. 3,659,050 21.4%
- -----------------------------------------------------------------------------------------------------------------------
Jackson T. Stephens Trust No.One Jackson T. Stephens, 121,908 0.7%
UID 1/4/88 Warren A. Stephens,
Trustees
- -----------------------------------------------------------------------------------------------------------------------
Grandchild's Trust One Jon Jacoby, Warren A. 39,203 0.2%
UID 12/16/85 Stephens, Trustees
- -----------------------------------------------------------------------------------------------------------------------
Grandchild's Trust Two Jon Jacoby, Warren A. 39,203 0.2%
UID 12/16/85 Stephens, Trustees
- -----------------------------------------------------------------------------------------------------------------------
Grandchild's Trust Three Jon Jacoby, Warren A. 39,203 0.2%
UID 12/89 Stephens, Trustees
- -----------------------------------------------------------------------------------------------------------------------
Bess C. Stephens Trust Bess C. Stephens, 123,713 0.7%
UID 1/4/85 Jackson T. Stephens,
Vernon Giss, Trustees
- -----------------------------------------------------------------------------------------------------------------------
Warren A. Stephens Trust Warren A. Stephens, 87,989 0.5%
UID 9/30/87 Trustee
- -----------------------------------------------------------------------------------------------------------------------
Stephens Inc. Custodian Warren A. Stephens
for Warren A. Stephens IRA 52,272 0.3%
- -----------------------------------------------------------------------------------------------------------------------
Warren & Harriet Stephens Jon Jacoby, Trustee
Children's Trust UID9/30/87 130,679 0.8%
- -----------------------------------------------------------------------------------------------------------------------
Harriet Calhoun Stephens Trust Harriet C. Stephens, 60,618 0.4%
UID 3/22/84 Trustee
- -----------------------------------------------------------------------------------------------------------------------
Elizabeth Ann Stephens Campbell Elizabeth Stephens
Revocable Trust UID 8/25/92 Campbell, Trustee 304,362 1.8%
- -----------------------------------------------------------------------------------------------------------------------
W. R. Stephens Trust UID 1/4/85 Bess C. Stephens, 27,491 0.2%
Jackson T. Stephens,
Vernon Giss, Trustees
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 20
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
W. R. Stephens, Jr. Revocable Wilton R. Stephens, Jr., 364,363 2.1%
Trust UID 2/19/93 Trustee
- -----------------------------------------------------------------------------------------------------------------------
Jon E. M. Jacoby Directly Owned 94,089 0.6%
- -----------------------------------------------------------------------------------------------------------------------
J & J Partners Jon E. M. Jacoby 52,272 0.3%
- -----------------------------------------------------------------------------------------------------------------------
Jacoby Enterprises, Inc. Jon E. M. Jacoby 209,088 1.2%
- -----------------------------------------------------------------------------------------------------------------------
Coral Two Corporation Jon E. M. Jacoby 143,748 0.8%
- -----------------------------------------------------------------------------------------------------------------------
Delaware Charter Guarantee & Jon E. M. Jacoby
Trust F/B/O Jon E. M. Jacoby 23,522 0.1%
Keogh
- -----------------------------------------------------------------------------------------------------------------------
Douglas H. Martin Directly Owned 67,953 0.4%
- -----------------------------------------------------------------------------------------------------------------------
Stephens Inc. Custodian for Douglas H. Martin 41,818 0.2%
Douglas H. Martin IRA
- -----------------------------------------------------------------------------------------------------------------------
K. Rick Turner Directly Owned 5,226 *
- -----------------------------------------------------------------------------------------------------------------------
Stephens Inc. Custodian for K. Rick Turner 5,226 *
K. Rick Turner IRA
- -----------------------------------------------------------------------------------------------------------------------
C. Ray Gash Directly Owned 26,135 0.2%
- -----------------------------------------------------------------------------------------------------------------------
Robert L. Schulte Directly Owned 13,067 0.1%
- -----------------------------------------------------------------------------------------------------------------------
Michael B. Johnson Directly Owned 5,226 *
- -----------------------------------------------------------------------------------------------------------------------
Curtis F. Bradbury, Jr. Directly Owned 104,544 0.6%
- -----------------------------------------------------------------------------------------------------------------------
Bradbury Enterprises, Inc. Curtis F. Bradbury, Jr. 52,272 0.3%
- -----------------------------------------------------------------------------------------------------------------------
William S. Walker Directly Owned 7,841 *
- -----------------------------------------------------------------------------------------------------------------------
Gordon D. Grender and Directly Owned
Amanda F. Grender, JTWROS 78,408 0.5%
- -----------------------------------------------------------------------------------------------------------------------
Stephens Investment Partners I Jackson T. Stephens, 156,816 0.9%
LLC Warren A. Stephens,
Wilton R. Stephens, Jr.,
Jon E. M. Jacoby,
Douglas H. Martin, LLC
Managers
- -----------------------------------------------------------------------------------------------------------------------
Coral Partners Jon E. M. Jacoby, 94,089 0.6%
Warren A. Stephens
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 21
<TABLE>
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Jackson T. Stephens Jon E. M. Jacoby,
Grandchildrens Trust AAAA Trustee 492,289 2.9%
UID 1/26/96
- -----------------------------------------------------------------------------------------------------------------------
Pamela Diane Rose Stephens Trust Bess C. Stephens, 366,871 2.2%
One UID 4/10/92 Elizabeth Stephens
Campbell, Wilton R.
Stephens, Jr., Pamela
Diane Stephens, Trustees
- -----------------------------------------------------------------------------------------------------------------------
Warren Miles Amerine Stephens Warren A. Stephens, 63,720 0.4%
Trust UID 9/10/86 Trustee
- -----------------------------------------------------------------------------------------------------------------------
John Calhoun Stephens Trust Warren A. Stephens, 63,720 0.4%
UID 12/1/87 Trustee
- -----------------------------------------------------------------------------------------------------------------------
Laura Whitaker Stephens Trust Warren A. Stephens, 63,720 0.4%
UID 12/28/90 Trustee
- -----------------------------------------------------------------------------------------------------------------------
Susan Stephens Campbell 1995 Jon E. M. Jacoby, I. 30,000 0.2%
Trust UID 12/4/95 Ernest Butler, Jr.
Trustees
- -----------------------------------------------------------------------------------------------------------------------
Craig D. Campbell, Jr. 1995 Trust Jon E. M. Jacoby, I 30,000 0.2%
UID 12/4/95 Ernest Butler, Jr.
Trustees
- -----------------------------------------------------------------------------------------------------------------------
Elizabeth Chisum Campbell 1995 Jon E. M. Jacoby, I. 30,000 0.2%
Trust UID 12/4/95 Ernest Butler, Jr.,
Trustees
- -----------------------------------------------------------------------------------------------------------------------
W. R. Stephens, Jr. Children's Bess C. Stephens, Wilton 30,000 0.2%
Trust UID 3/1/95 R. Stephens, Jr.,
Trustees
- -----------------------------------------------------------------------------------------------------------------------
Street Name Jackson T. Stephens 22,000 0.1%
- -----------------------------------------------------------------------------------------------------------------------
Street Name Stephens Inc. 225,926 1.3%
- -----------------------------------------------------------------------------------------------------------------------
TOTAL 7,649,640 44.8%
- -----------------------------------------------------------------------------------------------------------------------
</TABLE>
*indicates less than 0.1%
As of December 30, 1997, Stephens Inc. owned 225,926 shares of
Power-One, Inc. Common Stock in its inventory and as a market maker for the
Common Stock.
<PAGE> 22
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement with respect to my
investment in the common stock of Power-One, Inc. is true, complete and correct.
/s/
----------------------------------------
Jackson T. Stephens, individually and on
behalf of Stephens Group, Inc., Jackson
T. Stephens Trust No. One, Bess C.
Stephens Trust, W. R. Stephens Trust and
Stephens Investment Partners I, LLC
/s/
----------------------------------------
Bess C. Stephens, individually and on
behalf of Stephens Group, Inc., Bess C.
Stephens Trust, W. R. Stephens Trust,
Pamela Diane Stephens Rose Trust One and
W. R. Stephens, Jr. Children's Trust
/s/
----------------------------------------
Warren A. Stephens, individually and on
behalf of Stephens Group, Inc., Stephens
Inc., Jackson T. Stephens Trust No. One,
Grandchild's Trust Two, Grandchild's
Trust Three, Warren A. Stephens Trust,
Warren A. Stephens IRA (Stephens Inc.
Custodian), Warren Miles Amerine
Stephens Trust, John Calhoun Stephens
Trust, Laura Whitaker Stephens Trust,
Coral Partners and Stephens Investment
Partners I LLC
/s/
----------------------------------------
Wilton R. Stephens, Jr., individually
and on behalf of Stephens Group, Inc.,
W. R. Stephens, Jr. Revocable Trust,
Pamela Diane Stephens Rose Trust One, W.
R. Stephens, Jr. Children's Trust and
Stephens Investment Partners I, LLC
/s/
----------------------------------------
Elizabeth Stephens Campbell,
individually and on behalf of Elizabeth
Ann Stephens Campbell Revocable Trust
and Pamela Diane Stephens Rose Trust One
<PAGE> 23
/s/
----------------------------------------
Jon E. M. Jacoby, individually and on
behalf of Stephens Group, Inc.,
Grandchild's Trust One, Grandchild's
Trust Two, Grandchild's Trust Three,
Warren and Harriet Stephens Children's
Trust, J & J Partners, Jacoby
Enterprises, Inc., Coral Two
Corporation, Jon E.M. Jacoby Keogh
(Delaware Charter Guarantee & Trust,
Trustee), Coral Partners, Jackson T.
Stephens Grandchildren's Trust AAAA,
Susan Stephens Campbell 1995 Trust,
Craig D. Campbell, Jr. 1995 Trust,
Elizabeth Chisum Campbell 1995 Trust and
Stephens Investment Partners I, LLC
/s/
----------------------------------------
Vernon J. Giss, individually and on
behalf of Stephens Group, Inc., Bess C.
Stephens Trust and W. R. Stephens Trust
/s/
----------------------------------------
William Walker, individually and on
behalf of Stephens Group, Inc.
/s/
----------------------------------------
I. Ernest Butler, individually and on
behalf of Stephens Group, Inc., Susan
Stephens Campbell 1995 Trust, Craig D.
Campbell, Jr. 1995 Trust and Elizabeth
Chisum Campbell 1995 Trust
/s/
----------------------------------------
Craig D. Campbell on behalf of Stephens
Group, Inc.
/s/
----------------------------------------
Douglas H. Martin, individually and on
behalf of Douglas H. Martin IRA
(Stephens Inc. Custodian) and Stephens
Investment Partners I, LLC
<PAGE> 24
/s/
----------------------------------------
Curtis F. Bradbury, Jr., individually
and on behalf of Bradbury Enterprises,
Inc.
/s/
----------------------------------------
Pamela Diane Stephens, individually and
on behalf of Pamela Diane Stephens Rose
Trust One
Stephens Inc.
