<PAGE> 1
-------------------------
OMB APPROVAL
-------------------------
OMB Number: 3235-0145
Expires: October 31, 1994
Estimated average burden
hours per form......14.90
-------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
Power-One, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
739308 10 4
-------------------------------------------------
(CUSIP Number)
David A. Knight, c/o Stephens Group, Inc., 111 Center Street, Little Rock, AR
72201, (501) 377-2573
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
June 8, 1998
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
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 Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box [ ].
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule including all exhibits. See Section 240.13d-7(b) 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
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 2 of 44 Pages
- ---------------------- ---------------------
SCHEDULE 13D
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Voting Trust pursuant to a Voting Trust Agreement dated as of June 8,
1998
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
6,793,098
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
-0-
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
6,793,098
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
39.8
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
<PAGE> 3
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 3 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Stephens Group, Inc.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
3,704,050
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
3,704,050
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
21.7
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
HC,CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 4 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Jackson T. Stephens Trust No. One
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
121,908
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
121,908
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.7
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 5
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 5 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Jackson T. Stephens
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
24,000
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON 22,000
WITH ------------------------------------------------------
10 Shared Dispositive Power
275,112
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
297,112
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.7
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 6
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 6 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Warren A. Stephens
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
52,272
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 117,609
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON 52,272
WITH ------------------------------------------------------
10 Shared Dispositive Power
612,755
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
665,027
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
3.9
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 7
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 7 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Bess C. Stephens Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
151,204
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
151,204
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.9
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 8
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 8 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Bess C. Stephens
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 30,000
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
548,075
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
548,075
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
3.2
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 9
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 9 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Vernon J. Giss
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
151,204
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
151,204
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.9
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 10
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 10 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Warren A. Stephens Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
87,989
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
87,989
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.5
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 11
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 11 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Warren & Harriet Stephens Children's Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
130,679
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
130,679
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.8
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 12
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 12 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Jon E.M. Jacoby
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
23,522
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 207,609
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON 23,522
WITH ------------------------------------------------------
10 Shared Dispositive Power
1,423,863
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
1,447,385
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
8.5
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 13
- ---------------------- -------------------
CUSIP No. 739308 10 4 Page 13 of 44 Pages
- ---------------------- -------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Harriet Calhoun Stephens Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
60,618
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
60,618
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.4
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 14
- ---------------------- -------------------
CUSIP No. 739308 10 4 Page 14 of 44 Pages
- ---------------------- -------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Harriet C. Stephens
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
60,618
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
60,618
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.4
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 15
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 15 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Elizabeth Ann Stephens Campbell Revocable Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
304,362
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
304,362
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.8
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 16
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 16 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Elizabeth Stephens Campbell
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
671,233
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
671,233
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
3.9
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 17
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 17 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
W.R. Stephens, Jr. Revocable Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
364,363
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
364,363
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
2.1
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 18
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 18 of 44 Pages
- ---------------------- ---------------------
SCHEDULE 13D
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Wilton R. Stephens, Jr.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY 30,000
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
761,234
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
761,234
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
4.5
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 19
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 19 of 44 Pages
- ---------------------- ---------------------
SCHEDULE 13D
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Jackson T. Stephens Grandchildrens Trust AAAA
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
492,289
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
492,289
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
2.9
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 20
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 20 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Pamela Diane Stephens Trust One
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
366,871
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
366,871
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
2.2
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 21
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 21 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Pamela Diane Stephens
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
366,871
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
366,871
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
2.2
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 22
- ---------------------- ----------------------
CUSIP No. 739308 10 4 Page 22 of 44 Pages
- ---------------------- ----------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Warren Miles Amerine Stephens Trust UID 9/10/86
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
63,720
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
63,720
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.4
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 23
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 23 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
John Calhoun Stephens Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
63,720
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
63,720
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.4
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 24
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 24 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Laura Whitaker Stephens Trust
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
63,720
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
63,720
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.4
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 25
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 25 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
J & J Partners
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
52,272
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
52,272
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.3
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 26
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 26 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Jacoby Enterprises, Inc.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
209,088
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
209,088
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
1.2
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 27
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 27 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Coral Two Corporation
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
143,748
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
143,748
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.8
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 28
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 28 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Douglas H. Martin
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
41,818
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON 41,818
WITH ------------------------------------------------------
10 Shared Dispositive Power
67,953
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
109,771
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.6
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 29
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 29 of 44 Pages
- ---------------------- ---------------------
SCHEDULE 13D
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Curtis F. Bradbury, Jr.
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
156,816
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
156,816
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.9
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 30
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 30 of 44 Pages
- ---------------------- ---------------------
SCHEDULE 13D
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Bradbury Enterprises
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
52,272
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
52,272
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.3
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 31
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 31 of 44 Pages
- ---------------------- ---------------------
- --------------------------------------------------------------------------------
1 Name of Reporting Persons
I.R.S. Identification No. of Above Persons (entities only)
Coral Partners
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group (a) [x]
(See Instructions) (b) [ ]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds (See Instructions)
Not applicable
- --------------------------------------------------------------------------------
5 Check Box 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
-0-
------------------------------------------------------
NUMBER OF 8 Shared Voting Power
SHARES
BENEFICIALLY -0-
OWNED BY ------------------------------------------------------
EACH 9 Sole Dispositive Power
REPORTING
PERSON -0-
WITH ------------------------------------------------------
10 Shared Dispositive Power
94,089
------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
94,089
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [x]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11)
0.6
- --------------------------------------------------------------------------------
14 Type of Reporting Person (See Instructions)
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 32
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 32 of 44 Pages
- ---------------------- ---------------------
ITEM 1. SECURITY AND ISSUER
This Schedule 13D relates to the common stock, par value $.001
per share, of Power-One, Inc. ("Power-One"), the principal executive offices
of which are located at 740 Calle Plano, Camarillo, California 93012. This
Schedule 13D is being filed to reflect a voting trust among James Sommers, as
trustee (the "Voting Trustee"), and the persons listed in paragraph (a)(ii)
through (a)(xxiii) of Item 2 hereto pursuant to a Voting Trust Agreement dated
as of June 8, 1998 (the "Voting Trust Agreement").
ITEM 2. IDENTITY AND BACKGROUND
(a) This Schedule 13D is being filed by and on behalf of
(i) James Sommers, as Voting Trustee pursuant to the Voting Trust Agreement,
(ii) Stephens Group, Inc., (iii) Jackson T. Stephens Trust No. One, (iv) Bess
C. Stephens Trust, (v) Warren A. Stephens Trust, (vi) Warren & Harriet
Stephens Children's Trust, (vii) Harriet Calhoun Stephens Trust, (viii)
Elizabeth Ann Stephens Campbell Revocable Trust, (ix) W. R. Stephens, Jr.
Revocable Trust, (x) Jackson T. Stephens Grandchildrens Trust AAAA, (xi) Pamela
Diane Stephens Trust One, (xii) Warren Miles Amerine Stephens Trust, (xiii)
John Calhoun Stephens Trust, (xiv) Laura Whitaker Stephens Trust, (xv) J & J
Partners, (xvi) Jacoby Enterprises, Inc., (xvii) Coral Two Corporation, (xviii)
Coral Partners, (xix) Douglas H. Martin, (xx) Curtis F. Bradbury, Jr., (xxi)
Bradbury Enterprises, and (xxii) Jon E.M. Jacoby (collectively (ii) through
(xxii) are the "Trust Participants") and (xxiii) the persons listed as trustees
in subparagraphs (iii) through (xiv) below (collectively, the "Reporting
Persons").
(i) James Sommers is the Voting Trustee of the
voting trust established by the Voting Trust Agreement pursuant to Section 218
of the Delaware General Corporation Law. Mr. Sommers is a citizen of the
United States of America, has a business address of 237 Cherokee Road,
Charlotte, North Carolina 28207, and is principally employed as a financial
consultant.
(ii) Stephens Group, Inc. is an Arkansas business
corporation, engaged in the business of buying, owning, holding and selling
investment securities and other assets, the principal offices of which are
located at 111 Center Street, Little Rock, Arkansas 72201.
The voting stock of Stephens Group, Inc. is
owned by the following persons: Jackson T. Stephens Trust No. One; Bess C.
Stephens Trust; Bess C. Stephens; Warren A. Stephens Trust No. One and Wilton
R. Stephens, Jr. Revocable Trust.
The executive officers and directors of
Stephens Group, Inc., and their respective principal employments, are:
(A) Jackson T. Stephens, Chairman of the
Board of Directors of Stephens
Group, Inc.
(B) Bess C. Stephens, Director of
Stephens Group, Inc.
(C) Warren A. Stephens, President of
Stephens Group, Inc., and President
and Chief Executive Officer of
Stephens Inc.
(D) Wilton R. Stephens, Jr., Director
and officer of Stephens Group, Inc.
and Stephens Inc.
(E) Jon E.M. Jacoby, Director and
Executive Vice President of Stephens
Group, Inc., and Executive Vice
President and Director of Stephens
Inc.
(F) Vernon J. Giss, Director of Stephens
Group, Inc.
(G) Craig D. Campbell, Director of
Stephens Group, Inc. and employee of
Stephens Inc.
(H) William Walker, President of
Stephens Production Company, an oil
and gas production company
<PAGE> 33
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 33 of 44 Pages
- ---------------------- ---------------------
(I) Curtis F. Bradbury, Jr., Director of
Stephens Group, Inc., and Senior
Executive Vice President, Chief
Operating Officer and Director of
Stephens Inc.
Each of the executive officers and directors of Stephens Group, Inc. listed
above is a citizen of the United States of America and has the business address
of Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201
(iii) Jackson T. Stephens Trust No. One is a trust
formed under the laws of the State of Arkansas with a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its
trustees are Jackson T. Stephens and Warren A. Stephens.
(iv) Bess C. Stephens Trust, is a trust formed
under the laws of the State of Arkansas with a business address c/o Stephens
Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its trustees are
Bess C. Stephens, Jackson T. Stephens and Vernon J. Giss.
(v) Warren A. Stephens Trust is a trust formed
under the laws of the State of Arkansas with a business address c/o Stephens
Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its trustee is
Warren A. Stephens.
(vi) Warren & Harriet Stephens Children's Trust is
a trust formed under the laws of the State of Arkansas with a business address
c/o Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its
trustee is Jon E.M. Jacoby.
(vii) Harriet Calhoun Stephens Trust is a trust
formed under the laws of the State of Arkansas with a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its
trustee is Harriet C. Stephens, who is a citizen of the United States of
America, has a business address of Stephens Group, Inc., 111 Center Street,
Little Rock, Arkansas 72201, and whose principal employment is homemaker.
(viii) Elizabeth Ann Stephens Campbell Revocable
Trust is a trust formed under the laws of the State of Arkansas with a business
address c/o Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas
72201. Its trustee is Elizabeth Stephens Campbell, who is a citizen of the
United States of America, has a business address of Stephens Group, Inc., 111
Center Street, Little Rock, Arkansas 72201, and whose principal employment is
as an investment banker with Stephens Inc. and Stephens Group, Inc.
(ix) W. R. Stephens, Jr. Revocable Trust is a
trust formed under the laws of the State of Arkansas with a business address
c/o Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its
trustee is Wilton R. Stephens, Jr.
(x) Jackson T. Stephens Grandchildrens Trust AAAA
is a trust formed under the laws of the State of Arkansas with a business
address c/o Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas
72201. Its trustee is Jon E.M. Jacoby.
(xi) Pamela Diane Stephens Trust One is a trust
formed under the laws of the State of Arkansas with a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its
trustees are Bess C. Stephens, Elizabeth Stephens Campbell, Wilton R. Stephens,
Jr., and Pamela Diane Stephens. Pamela Diane Stephens is a citizen of the
United States of America, has a business address of Stephens Group, Inc., 111
Center Street, Little Rock, Arkansas 72201, and is principally employed as an
investment banker with Stephens Inc. and Stephens Group, Inc.
(xii) Warren Miles Amerine Stephens Trust is a
trust formed under the laws of the State of Arkansas with a business address
c/o Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its
trustee is Warren A. Stephens.
<PAGE> 34
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 34 of 44 Pages
- ---------------------- ---------------------
(xiii) John Calhoun Stephens Trust is a trust formed
under the laws of the State of Arkansas with a business address c/o Stephens
Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its trustee is
Warren A. Stephens.
(xiv) Laura Whitaker Stephens Trust is a trust
formed under the laws of the State of Arkansas with a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. Its
trustee is Warren A. Stephens.
(xv) J & J Partners is a partnership formed under
the laws of the State of Arkansas with a business address c/o Stephens Group,
Inc., 111 Center Street, Little Rock, Arkansas 72201. The partners of J & J
Partners are Jon E.M. Jacoby, James Jacoby and Jacoby Enterprises, Inc. James
Jacoby is a citizen of the United States of America, has a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201, and is
principally employed by Stephens Inc.
(xvi) Jacoby Enterprises, Inc. is a corporation
formed under the laws of the State of Wyoming with a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. The
controlling shareholder of Jacoby Enterprises, Inc. is Jon E.M. Jacoby. The
directors of Jacoby Enterprises, Inc. are Jon E.M. Jacoby, Mary Jacoby and
Elizabeth Jacoby. The executive officer of Jacoby Enterprises, Inc. is Jon
E.M. Jacoby.
(xvii) Coral Two Corporation is a corporation formed
under the laws of the State of Wyoming with a business address c/o Stephens
Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. The controlling
shareholder of Coral Two Corporation is Jon E.M. Jacoby. The executive officer
of Coral Two Corporation is Jon E.M. Jacoby.
(xviii) Coral Partners is an investment partnership
formed under the laws of the State of Arkansas with a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. The
partners of Coral Partners are (1) Jon E.M. Jacoby, individually and through
his individual retirement account, Stephens Inc. Custodian for Jon E.M. Jacoby
IRA, (2) Warren A. Stephens, individually and through his individual retirement
account, Stephens Inc. Custodian for Warren A. Stephens IRA, (3) K. Rick Turner
through his individual retirement account, Stephens Inc. Custodian for K. Rick
Turner IRA, (4) Ray Gash through his individual retirement account, Stephens
Inc. Custodian for Ray Gash IRA and (5) Robert Schulte through his individual
retirement account, Stephens Inc. Custodian for Robert Schulte IRA. Each of K.
Rick Turner, Ray Gash and Robert Schulte is a citizen of the United States of
America, has a business address c/o Stephens Group, Inc., 111 Center Street,
Little Rock, Arkansas 72201, and is principally employed by Stephens Inc.
Warren A. Stephens and Jon E.M. Jacoby are the managing partners of Coral
Partners.
(xix) Douglas H. Martin has a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. He is a
Senior Vice President of Stephens Group, Inc. and a Director and Senior Vice
President of Stephens Inc.
(xx) Curtis F. Bradbury, Jr. has a business
address c/o Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas
72201. He is a Director of Stephens Group, Inc. and Senior Executive Vice
President and Chief Operating Officer and Director of Stephens Inc.
(xxi) Bradbury Enterprises is a general partnership
formed under the laws of the State of Arkansas with a business address c/o
Stephens Group, Inc., 111 Center Street, Little Rock, Arkansas 72201. The
controlling general partner of Bradbury Enterprises is Curtis F. Bradbury, Jr.
(b) Except as described in (c) below, during the past
five years, none of the Reporting Persons or the persons listed as directors,
officers or partners of any of the Reporting Persons have been convicted in any
criminal proceeding (excluding traffic violations or similar misdemeanors) nor
been the subject of any civil judgment, decree or order involving any federal
or state securities laws or his/her compliance therewith.
<PAGE> 35
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 35 of 44 Pages
- ---------------------- ---------------------
(c) 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 and member of the New York Stock
Exchange. Stephens Inc. served as an underwriter in the initial public
offerings of the common stock of Power-One. Stephens Inc. also maintains an
inventory of Power-One common stock from time to time and is a market maker for
Power-One common stock. The principal offices of Stephens Inc. 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:
(i) 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 over-concentration 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.
(ii) Stephens Inc. entered into a consent order on
September 5, 1997 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 Advisors 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).
(iii) 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 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.
(iv) 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.
(v) 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.
(vi) 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.
<PAGE> 36
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 36 of 44 Pages
- ---------------------- ---------------------
(vii) 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").
(viii) On or about May 8, 1997, Stephens Inc.
entered into a letter of consent with NASDR, in NASDR Cast 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.
(ix) On or about June 3, 1998, Stephens Inc.
submitted a letter of consent with NASDR consenting to a fine in connection with
an allegation that it had failed to execute seven transactions on behalf of
public customers at the best inter-dealer market price as reported by Nasdaq,
had failed to cross two customer orders with open limit orders which offered
better prices, and had failed in eight instances to publish immediately bids or
offers that reflected the prices and full size of customer limit orders that
were at prices which would have improved Stephens' bid or offer in certain
securities.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Not applicable.
ITEM 4. PURPOSE OF TRANSACTION
Collectively, Stephens Group, Inc. and persons who may be
considered affiliates of Stephens Group, Inc. beneficially own approximately
43.5% of the outstanding common stock of Power-One. Stephens Inc., a
wholly-owned second-tier subsidiary of Stephens Group, Inc., is a registered
broker-dealer and desires to engage in certain market-making activities and
other principal transactions in the common stock of Power-One without the need
to deliver a prospectus under current law and regulations. In order to do so,
it is necessary that Stephens Inc. not be deemed an "affiliate" under the
Securities Act of 1933, as amended (the "Act") and the Exchange Act of 1934, as
amended (the "Exchange Act"). Therefore, the Trust Participants entered into
the Voting Trust Agreement because the relationships among them, Stephens Inc.
and Power-One may create an inference that Stephens Inc. is an "affiliate" of
Power-One under the Act and the Exchange Act.
Stephens Inc., a wholly-owned second-tier subsidiary of
Stephens Group, Inc., makes a market in Power-One and in this capacity
acquires and disposes of securities of Power-One.
Mr. Jacoby, a director and executive officer of Stephens
Group, Inc. and Stephens Inc., serves on the board of directors of Power-One.
Except as set forth above, the Reporting Persons have no
current plans or proposals to effect any transactions described in
subparagraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The following table discloses the ownership of the
common stock of Power-One by the Reporting Persons and their respective
directors and executive officers:
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Percent of
Number of Outstanding Voting Power Investment Power
Name Shares Shares
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Voting Trust pursuant to the Voting Trust Agreement 6,793,098 39.8 Sole: 6,793,098 -0-
Stephens Group, Inc. 3,704,050 21.7 -0- Shared: 3,704,050
Jackson T. Stephens Trust No. One 121,908 0.7 -0- Shared: 121,908
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE> 37
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 37 of 44 Pages
- ---------------------- ---------------------
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
Percent of
Number of Outstanding Voting Power Investment Power
Name Shares Shares
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Bess C. Stephens Trust 151,204 0.9 -0- Shared: 151,204
Warren A. Stephens Trust 87,989 0.5 -0- Shared: 87,989
Warren & Harriet Stephens Children's Trust 130,679 0.8 -0- Shared: 130,679
Harriet Calhoun Stephens Trust 60,618 0.4 -0- Shared: 60,618
Elizabeth Ann Stephens Campbell Revocable Trust 304,362 1.8 -0- Shared: 304,362
W. R. Stephens, Jr. Revocable Trust 364,363 2.1 -0- Shared: 364,363
Jackson T. Stephens Grandchildrens Trust AAAA 492,289 2.9 -0- Shared: 492,289
Pamela Diane Stephens Trust One 366,871 2.2 -0- Shared: 366,871
Warren Miles Amerine Stephens Trust 63,720 0.4 -0- Shared: 63,720
John Calhoun Stephens Trust 63,720 0.4 -0- Shared: 63,720
Laura Whitaker Stephens Trust 63,720 0.4 -0- Shared: 63,720
Jackson T. Stephens (1) 297,112 1.7 Sole: 24,000 Sole: 22,000
Shared: 275,112
Warren A. Stephens (2) 665,027 3.9 Sole: 52,272 Sole: 52,272
Shared: 117,609 Shared: 612,755
Bess C. Stephens (3) 548,075 3.2 Shared: 30,000 Shared: 548,075
Vernon J. Giss (4) 151,204 0.9 -0- Shared: 151,204
Jon E.M. Jacoby (5) 1,447,385 8.5 Sole: 23,522 Sole: 23,522
Shared: 207,609 Shared: 1,423,863
Harriet C. Stephens (6) 60,618 0.4 -0- Shared: 60,618
Elizabeth Stephens Campbell (7) 671,233 3.9 -0- Shared: 671,233
Wilton R. Stephens, Jr. (8) 761,234 4.5 Shared: 30,000 Shared: 761,234
Pamela Diane Stephens (9) 366,871 2.2 -0- Shared: 366,871
J & J Partners 52,272 0.3 -0- Shared: 52,272
Jacoby Enterprises, Inc. 209,088 1.2 -0- Shared: 209,088
Coral Two Corporation 143,748 0.8 -0- Shared: 143,748
Douglas H. Martin (10) 109,771 0.6 Sole: 41,818 Sole: 41,818
Shared: 67,953
Curtis F. Bradbury, Jr. (11) 156,816 0.9 -0- Shared: 156,816
Bradbury Enterprises 52,272 0.3 -0- Shared: 52,272
I. Ernest Butler (12) 90,000 0.5 Shared: 90,000 Shared: 90,000
Coral Partners 94,089 0.6 -0- Shared: 94,089
Craig D. Campbell -0- -0- -0- -0-
William Walker 7,841 0.0 Sole: 7,841 Sole: 7,841
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Includes 121,908 shares beneficially owned by
Jackson T. Stephens Trust No. One and 151,204 shares beneficially owned by Bess
C. Stephens Trust, of which Jackson T. Stephens is a trustee. Also includes
24,000 owned by Jackson T. Stephens.
(2) Includes 121,908 shares beneficially owned by
Jackson T. Stephens Trust No. One, 87,989 shares beneficially owned by Warren
A. Stephens Trust, 63,720 shares beneficially owned by each of Warren Miles
Amerine Stephens Trust, John Calhoun Stephens Trust and Laura Whitaker Stephens
Trust, and 39,203 shares owned by each of Grandchild's Trust One UID 12/16/85,
Grandchild's Trust Two UID 12/16/85 and Grandchild's Trust Three UID 12/89.
Mr. Stephens is a trustee for each of these trusts. Also includes 52,272
shares owned by Stephens Inc. Custodian for Warren A. Stephens IRA. Also
includes 94,089 shares beneficially owned by Coral Partners, of which Mr.
Stephens is a general partner.
(3) Includes 151,204 shares beneficially owned by
Bess C. Stephens Trust, 366,871 shares beneficially owned by Pamela Diane
Stephens Trust One and 30,000 shares owned by W.R. Stephens, Jr. Children's
Trust UID 3/1/95. Ms. Stephens is a trustee for each of these trusts.
<PAGE> 38
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 38 of 44 Pages
- ---------------------- ---------------------
(4) Includes 151,204 shares beneficially owned by
Bess C. Stephens Trust, of which Vernon J. Giss is a trustee.
(5) Includes 39,203 shares owned by each of
Grandchild's Trust One UID 12/16/85, Grandchild's Trust Two UID 12/16/85 and
Grandchild's Trust Three UID 12/89, 130,679 shares beneficially owned by Warren
& Harriet Stephens Children's Trust UID 9/30/87, 492,289 shares beneficially
owned by Jackson T. Stephens Grandchildren's Trust AAAA, and 30,000 shares
owned by each of Susan Stephens Campbell 1995 Trust UID 12/4/95, Craig D.
Campbell, Jr. 1995 Trust UID 12/4/95 and Elizabeth Chisum Campbell 1995 Trust
UID 12/4/95. Mr. Jacoby is a trustee for each of these trusts. Also includes
52,272 shares beneficially owned by J & J Partners, 209,088 shares beneficially
owned by Jacoby Enterprises, Inc., 143,748 shares beneficially owned by Coral
Two Corporation, 23,522 shares owned by Delaware Charter Guarantee & Trust
F/B/O Jon E.M. Jacoby Keogh, 94,089 shares beneficially owned by Coral Partners
and 94,089 shares beneficially owned by Mr. Jacoby.
(6) Includes 60,618 shares beneficially owned by
Harriet Calhoun Stephens Trust, of which Harriet C. Stephens is a trustee.
Excludes shares beneficially owned by Harriet Calhoun Stephens' husband, Warren
A. Stephens, listed in note (2) above.
(7) Includes 304,362 shares beneficially owned by
Elizabeth Ann Stephens Campbell Revocable Trust and 366,871 shares beneficially
owned by Pamela Diane Stephens Trust One, of which Elizabeth Stephens Campbell
is a trustee.
(8) Includes 364,363 shares beneficially owned by
W. R. Stephens, Jr. Revocable Trust and 366,871 shares beneficially owned by
Pamela Diane Stephens Trust One, of which Wilton R. Stephens, Jr. is a trustee.
Also includes 30,000 shares owned by W.R. Stephens, Jr. Children's Trust UID
3/1/95, of which Wilton R. Stephens, Jr. is a trustee.
(9) Includes 366,871 shares beneficially owned by
Pamela Diane Stephens Trust One, of which Pamela Diane Stephens is a trustee.
(10) Includes 41,818 shares owned by Stephens Inc.
Custodian for Douglas H. Martin IRA and 67,953 shares beneficially owned by Mr.
Martin.
(11) Includes 52,272 shares beneficially owned by
Bradbury Enterprises and 104,544 shares beneficially owned by Mr. Bradbury.
(12) Includes 30,000 shares owned by each of Susan
Stephens Campbell 1995 Trust UID 12/4/95, Craig D. Campbell, Jr. 1995 Trust UID
12/4/95 and Elizabeth Chisum Campbell 1995 Trust UID 12/4/95. Mr. Butler is a
trustee for each of these trusts.
<PAGE> 39
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 39 of 44 Pages
- ---------------------- ---------------------
(b) The table below discloses the beneficial ownership of
common stock of Power-One by persons who may comprise a group with any of the
Reporting Persons within the meaning of Rule 13-d(3) of the Exchange Act. The
persons listed below expressly disclaim membership in any group pursuant to
Regulation 13D.
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Percent of
Number of Shares Outstanding
Name Shares
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
Stephens Inc. 114,705 0.7
Grandchild's Trust One 39,203 0.2
Grandchild's Trust Two 39,203 0.2
Grandchild's Trust Three 39,203 0.2
K. Rick Turner 5,226 0.0
Stephens Inc. Custodian for K. Rick Turner IRA 5,226 0.0
C. Ray Gash 26,135 0.2
Robert L. Schulte 13,067 0.1
William S. Walker 7,841 0.0
Gordon D. Grender & Amanda F. Grender, JTWROS 78,408 0.5
Susan Stephens Campbell 1995 Trust 30,000 0.2
Craig D. Campbell, Jr. 1995 Trust 30,000 0.2
Elizabeth Chisum Campbell 1995 Trust 30,000 0.2
W. R. Stephens, Jr. Children's Trust 30,000 0.2
------------------------------------------------------------------------------------------------------------------------
</TABLE>
(c) The Voting Trustee expressly disclaims beneficial
ownership of any securities covered by this Schedule 13D.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
(a) The terms of the Voting Trust Agreement to which each
of the Voting Participants is a party provide that the Voting Trustee shall
vote the shares of common stock of Power-One held by the voting trust "for"
and/or "against" any proposal or other matter submitted to the shareholders of
Power-One for approval in the same proportion as the votes cast "for" and
"against" such proposal or other matter by all other shareholders, not counting
abstentions. Accordingly, the Voting Trustee shall have no discretionary
authority to vote the shares. The Voting Trust Agreement further provides that
the Voting Trustee shall not abstain from voting any shares of common stock of
Power-One held by the voting trust. No person other than the Voting Trustee
shall have any voting rights with respect to the shares of common stock of
Power-One held by the voting trust.
The terms of the Voting Trust Agreement also provide
that the Voting Participants may transfer shares of Power-One held by the
voting trust to any person that is an "affiliate" of Stephens Inc. under the
Act or the Exchange Act only if the shares so transferred remain deposited in
and subject to the terms of the voting trust. The Voting Participants may
transfer shares of Power-One held by the voting trust to any person who is not
an "affiliate" of Stephens Inc. under the Act or the Exchange Act if the
transfer is approved by a majority of the board of directors of Power-One
(excluding any member of the board of directors of Power-One who is an
affiliate, employee, officer, director, general partner or agent of Stephens
Inc. or Stephens Group, Inc.). The Voting Participants need not obtain this
approval of the board of directors of Power-One if the proposed transfer is a
sale pursuant to Rule 144 under the Act (treating Rule 144(k) as inapplicable
and aggregating all such transfers occurring within any three-month period for
purposes of Rule 144(e)) or if the proposed transfer is in connection with a
business combination, tender offer or other fundamental corporate transaction
under which a third-party acquirer obtains control of Power-One (other than
solely through the purchase of the shares held under the voting trust).
<PAGE> 40
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 40 of 44 Pages
- ---------------------- ---------------------
The Voting Trust Agreement expires on the earlier of
(i) ten years, (ii) transfer of all of the shares of common stock of Power-One
held by the voting trust under circumstances not requiring such shares to be
subject to the Voting Trust Agreement, (iii) delivery of a certificate of
Stephens Inc. that Stephens Inc. no longer engages in market-making activities
and principal transactions in the common stock of Power-One and will not do so
without an opinion of counsel that Stephens Inc. is not an "affiliate" of
Power-One under the Act or the Exchange Act, (iv) the delivery of a certificate
of Stephens Inc. that a shelf registration statement for Power-One registering
the market- making activities and principal transactions of Stephens Inc. has
been filed with and declared effective by the U.S. Securities and Exchange
Commission and that Stephens Inc. undertakes to deliver a prospectus with the
confirmation of each sale by it as principal, or (v) an opinion of counsel that
Stephens Inc. would not be deemed an "affiliate" of Power-One under the Act or
the Securities Act upon termination of the Voting Trust Agreement.
(b) Jackson T. Stephens Trust No. One has assigned the
economic interest in 10,000 shares of the Power-One common stock to one
individual and in 15,000 shares of the common stock to another individual.
Warren A. Stephens Trust and Harriet Stephens Trust
have assigned the economic interest in a total of 95,000 shares of Power-One
common stock to a total of seven individuals, including several family members.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
(a) Voting Trust Agreement dated as of June 8, 1998 among
James Sommers, as voting trustee, and the Trust Participants listed in Item 2
(b) Assignments of Economic Interest
(c) Agreement to File Joint Schedule 13D
<PAGE> 41
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 41 of 44 Pages
- ---------------------- ---------------------
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
STEPHENS GROUP, INC.
By: /s/ Jackson T. Stephens
-----------------------------------
Jackson T. Stephens
Chairman of the Board of Directors
JACKSON T. STEPHENS TRUST NO. ONE
By: /s/ Jackson T. Stephens, Trustee
----------------------------------
Jackson T. Stephens,
Trustee
By: /s/ Warren A. Stephens, Trustee
----------------------------------
Warren A. Stephens, Trustee
BESS C. STEPHENS TRUST
By: /s/ Bess C. Stephens, Trustee
----------------------------------
Bess C. Stephens, Trustee
By: /s/ Jackson T. Stephens, Trustee
----------------------------------
Jackson T. Stephens,
Trustee
By: /s/ Vernon J. Giss, Trustee
----------------------------------
Vernon J. Giss, Trustee
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens, Trustee
----------------------------------
Warren A. Stephens, Trustee
WARREN & HARRIET STEPHENS CHILDREN'S
TRUST
By: /s/ Jon E.M. Jacoby, Trustee
----------------------------------
Jon E.M. Jacoby, Trustee
<PAGE> 42
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 42 of 44 Pages
- ---------------------- ---------------------
HARRIET CALHOUN STEPHENS TRUST
By: /s/ Harriet C. Stephens, Trustee
----------------------------------
Harriet C. Stephens, Trustee
ELIZABETH ANN STEPHENS CAMPBELL
REVOCABLE TRUST
By: /s/ Elizabeth Stephens Campbell,
Trustee
----------------------------------
Elizabeth Stephens Campbell,
Trustee
W. R. STEPHENS, JR. REVOCABLE TRUST
By: /s/ Wilton R. Stephens, Jr., Trustee
----------------------------------
Wilton R. Stephens, Jr., Trustee
JACKSON T. STEPHENS GRANDCHILDRENS
TRUST AAAA
By: /s/ Jon E.M. Jacoby, Trustee
----------------------------------
Jon E.M. Jacoby, Trustee
PAMELA DIANE STEPHENS TRUST ONE
By: /s/ Bess C. Stephens, Trustee
----------------------------------
Bess C. Stephens, Trustee
By: /s/ Elizabeth Stephens Campbell,
Trustee
----------------------------------
Elizabeth Stephens Campbell,
Trustee
By: /s/ Wilton R. Stephens, Jr., Trustee
----------------------------------
Wilton R. Stephens, Jr., Trustee
By: /s/Pamela Diane Stephens, Trustee
----------------------------------
Pamela Diane Stephens, Trustee
<PAGE> 43
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 43 of 44 Pages
- ---------------------- ---------------------
WARREN MILES AMERINE STEPHENS TRUST
By: /s/ Warren A. Stephens, Trustee
----------------------------------
Warren A. Stephens, Trustee
JOHN CALHOUN STEPHENS TRUST
By: /s/Warren A. Stephens, Trustee
----------------------------------
Warren A. Stephens, Trustee
LAURA WHITAKER STEPHENS TRUST
By: Warren A. Stephens, Trustee
----------------------------------
Warren A. Stephens, Trustee
J&J PARTNERS
By: /s/ Jon E.M. Jacoby
----------------------------------
Jon E.M. Jacoby
JACOBY ENTERPRISES, INC.
By: /s/ Jon E.M. Jacoby, President
----------------------------------
Jon E.M. Jacoby, President
CORAL TWO CORPORATION
By: /s/ Jon E.M. Jacoby, President
----------------------------------
Jon E.M. Jacoby, President
CORAL PARTNERS
By: /s/ Warren A. Stephens
----------------------------------
Warren A. Stephens
By: /s/ Jon E.M. Jacoby
----------------------------------
Jon E.M. Jacoby
<PAGE> 44
- ---------------------- ---------------------
CUSIP No. 739308 10 4 Page 44 of 44 Pages
- ---------------------- ---------------------
BRADBURY ENTERPRISES
By: /s/ Curtis F. Bradbury, Jr.
----------------------------------
Curtis F. Bradbury, Jr.
/s/ Douglas H. Martin
----------------------------------
Douglas H. Martin
/s/ Curtis F. Bradbury, Jr.
----------------------------------
Curtis F. Bradbury, Jr.
/s/ Jackson T. Stephens
----------------------------------
Jackson T. Stephens
/s/ Warren A. Stephens
----------------------------------
Warren A. Stephens
/s/ Bess C. Stephens
----------------------------------
Bess C. Stephens
/s/ Vernon J. Giss
----------------------------------
Vernon J. Giss
/s/ Jon E.M. Jacoby
----------------------------------
Jon E.M. Jacoby
/s/ Harriet C. Stephens
----------------------------------
Harriet C. Stephens
/s/ Elizabeth Campbell Stephens
----------------------------------
Elizabeth Stephens Campbell
/s/ Wilton R. Stephens, Jr.
----------------------------------
Wilton R. Stephens, Jr.
/s/ Pamela Diane Stephens
----------------------------------
Pamela Diane Stephens
/s/ James Sommers
----------------------------------
James Sommers, trustee pursuant to
Voting Trust Agreement dated
as of June 8, 1998
<PAGE> 1
VOTING TRUST AGREEMENT
THIS VOTING TRUST AGREEMENT (this "Agreement") is made as of
this 8th day of June, 1998, by and between James Sommers (the "Trustee"), and
the stockholders listed on Exhibit A hereto (each a "Stockholder" and
collectively, the "Stockholders"). The term "Stockholders" shall include any
additional parties who may become parties hereto.
WITNESSETH:
WHEREAS, in order to engage in certain market-making
activities and other principal transactions in the common stock, par value
$.001 per share (the "Common Stock"), of Power-One, Inc., a Delaware
corporation (the "Corporation"), without the need to deliver a prospectus under
current law and regulations, it is necessary that Stephens Inc. not be deemed
an "affiliate" of the Corporation under the Securities Act of 1933, as amended
(the "Securities Act") and the Securities Exchange Act of 1934, as amended (the
"Exchange Act");
WHEREAS, the relationships among the Stockholders, Stephens
Inc. and the Corporation may create an inference that such affiliation exists;
WHEREAS, the Stockholders believe it is in their best
interests that Stephens Inc. engage in market- making activities and other
principal transactions in the Common Stock;
WHEREAS, each Stockholder owns certain shares of Common Stock
of the Corporation (the "Stock") set forth on Exhibit A hereto and believes it
is in their best interests to enter into the Agreement so as to facilitate such
activities by Stephens Inc.; and
WHEREAS, the Trustee desires to serve as trustee of the voting
trust created hereby.
NOW, THEREFORE, in consideration of the foregoing and of the
mutual promises, covenants and agreements set forth herein, the parties hereby
agree as follows:
1. CREATION OF VOTING TRUST.
Subject to the terms and conditions hereof, a voting
trust in respect of the Stock (the "Voting Trust") is hereby created and
established in accordance with Section 218 of the Delaware General Corporation
Law, and the Trustee hereby accepts the trust created hereby and agrees to
serve as trustee hereunder.
<PAGE> 2
2. DEPOSIT AND TRANSFER OF STOCK; VOTING TRUST
CERTIFICATES.
(a) DEPOSIT OF STOCK. Simultaneously with the
execution and delivery of this Agreement, each Stockholder has duly and validly
assigned and delivered to the Trustee all of the shares of Stock, represented
by a certificate or certificates duly and validly endorsed in blank, and
accompanied by instruments of transfer sufficient to enable the shares of Stock
to be transferred to the name of the Trustee not in its individual capacity,
but solely as Trustee.
(b) TRANSFER OF STOCK TO TRUSTEE. All
certificates deposited with the Trustee pursuant to Section 2(a) hereof shall
be surrendered to the Corporation for cancellation, and new certificates for
the shares of Stock shall be issued in the name of the Trustee, as trustee
under this Agreement.
(c) NO SALE OF STOCK BY TRUSTEE/PLEDGE OF STOCK
BY STOCKHOLDER. The Trustee shall have no authority to sell or otherwise
dispose of or encumber any of the Stock deposited pursuant to the provisions of
this Agreement. Nothing herein shall prevent a Stockholder from encumbering
the Stock owned by it and held under the Voting Trust. In the event a
Stockholder desires to pledge any of its shares of the Stock the Stockholder
shall direct the Trustee in writing, and the Trustee shall be obligated to
cooperate reasonably with such Stockholder, including pledging and delivering
or causing to be delivered a share certificate for shares of the Stock
corresponding to the number of shares in the Voting Trust pledged by such
Stockholder. The Trustee shall have no duty to follow the instructions or
advice of any pledgee.
(d) VOTING TRUST CERTIFICATES. On receipt by the
Trustee from the Corporation of a certificate or certificates, in the name of
the Trustee, representing the Stock, the Trustee shall hold such certificate(s)
subject to the terms of this Agreement, and thereupon shall issue and deliver
to each Stockholder, voting trust certificates (each hereinafter referred to as
a "Voting Trust Certificate" and together the "Voting Trust Certificates") for
the Stock deposited hereunder by each Stockholder. The Voting Trust
Certificates shall be in substantially the form of Exhibit B attached hereto
and shall bear the following legend:
THIS VOTING TRUST CERTIFICATE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS AND
MAY BE REOFFERED AND SOLD ONLY IF SO REGISTERED OR IF AN
EXEMPTION FROM REGISTRATION IS AVAILABLE.
(e) TRANSFER OF VOTING TRUST CERTIFICATES. The
Voting Trust Certificates issued and delivered hereunder may not be transferred
by the Stockholders.
-2-
<PAGE> 3
(f) REPLACEMENT OF CERTIFICATES. If a Voting
Trust Certificate shall become mutilated or be destroyed, stolen or lost, the
Trustee, in its discretion, may issue a new Voting Trust Certificate of like
tenor and denomination in exchange and substitution for and on cancellation of
the mutilated Voting Trust Certificate, or in substitution of the Voting Trust
Certificate so destroyed, stolen or lost. The applicant for a substitute
Voting Trust Certificate shall furnish to the Trustee evidence of the
destruction, theft or loss of the Voting Trust Certificate satisfactory to it
in its discretion. The applicant shall also furnish indemnity satisfactory to
the Trustee and to its agents.
3. CONCERNING THE TRUSTEE.
(a) VOTING AND OTHER ACTIONS BY TRUSTEE. During
the term of this Agreement and so long as the Trustee shall hold shares of
Stock pursuant to this Agreement:
(i) The Trustee shall vote the Stock
deposited hereunder, or give written consents in lieu of voting thereon, in
person or by proxy at any and all meetings of the shareholders of the
Corporation, or when such consents are given in lieu of such meetings, for
whatsoever purpose called or held, and in any and all proceedings, whether at a
meeting of the shareholders or otherwise, wherein the vote or written consent
of shareholders may be required or authorized by law;
(ii) The Trustee shall vote the Stock
"for" and/or "against" any proposal or other matter submitted to the
shareholders of the Corporation for approval, including the election of
directors, in the same proportion as the votes cast "for" and "against" such
proposal or other matter by all other shareholders, not counting abstentions,
and the Trustee shall not abstain from voting any shares of the Stock;
(iii) No person other than the Trustee
shall have any voting right in respect of the Stock;
(iv) The Stock shall be held by the
Trustee for the benefit of the Stockholders subject to the terms of this
Agreement, and the Stockholders shall retain the right to receive dividends and
distributions with respect to the Stock as described in Section 4 hereof;
(v) The Trustee shall have no beneficial
interest in the Stock, which interest shall reside with the Stockholders; and
(vi) Notwithstanding that the Trustee
shall vote a substantial number of shares of the Common Stock of the
Corporation, the Trustee shall have no duty or obligation to supervise,
oversee, monitor, or in any other way manage or become involved in the
day-to-day operations of the Corporation, and
-3-
<PAGE> 4
such duties and obligations shall reside solely with the board of directors and
officers of the Corporation.
(b) DELEGATION OF DUTIES. The duties,
responsibilities and obligations of the Trustee shall be limited to those
expressly set forth herein and no duties, responsibilities or obligations shall
be inferred or implied. The Trustee shall not be subject to, nor required to
comply with, any other agreement between or among any or all of the
Stockholders or to which any Stockholder is a party, even though reference
thereto may be made herein, or to comply with any direction or instruction
(other than those contained herein or delivered in accordance with this
Agreement) from any Stockholder or any entity acting on its behalf. The
Trustee shall not be required to, and shall not, expend or risk any of its own
funds or otherwise incur any financial liability in the performance of any of
its duties hereunder.
(c) COMPENSATION OF TRUSTEE. Stephens Inc. shall
pay the Trustee an annual fee of $10,000.00, payable upon execution of this
Agreement and thereafter on each anniversary date of this Agreement. The
provisions of this Section 3(c) shall survive termination of this Agreement and
the resignation or removal of the Trustee.
(d) EXPENSES OF TRUSTEE; INDEMNIFICATION. The
Trustee is expressly authorized to incur and pay all reasonable charges and
other expenses which it may deem necessary and proper in the performance of its
duties under this Agreement, including the reasonable compensation and the
expenses and disbursements of its agents and counsel. Stephens Inc. agrees to
indemnify the Trustee and its agents against all claims, reasonable costs of
defense of claims (including reasonable attorneys' fees and disbursements),
expenses and liabilities incurred by the Trustee arising out of or in
connection with the administration of the Voting Trust, including the
reasonable costs and expenses of defense against any claim or liability in
connection with the exercise or performance of its powers or duties hereunder,
except in any case in which the Trustee acted with gross negligence, willful
misconduct or bad faith. Stephens Inc. shall be responsible for and shall
reimburse the Trustee upon demand for all expenses, disbursements and advances
incurred or made by the Trustee in connection with this Agreement. The
provisions of this Section 3(d) shall survive termination of this Agreement and
the resignation or removal of the Trustee.
(e) LIABILITY OF TRUSTEE. The Trustee shall not
be liable for any action taken or omitted or for any loss or injury resulting
from its actions or its performance or lack of performance of its duties
hereunder in the absence of gross negligence or willful misconduct on its part.
The Trustee shall be free from liability in acting upon any paper, document or
signature believed by it to be genuine and to have been signed by the proper
party. The Trustee shall not be liable for any error in judgment or for any
act taken or omitted to be taken, or for any mistake of fact or
-4-
<PAGE> 5
law, or for anything for which it may do or refrain from doing in good faith,
except that the Trustee shall be liable for its gross negligence, willful
misconduct or bad faith.
(f) TERM. The Trustee shall serve as trustee
hereunder during the entire term of this Agreement or until its earlier
resignation or removal.
(g) RESIGNATION OF TRUSTEE. The Trustee may
resign by giving thirty (30) days advance written notice of its resignation to
the Stockholders.
(h) REMOVAL OF TRUSTEE. The Trustee shall be
subject to removal by the affirmative vote of Stockholders owning a majority of
the Stock held under this voting trust only if the Trustee (i) materially
breaches the terms of this Voting Trust Agreement, (ii) is (if an individual)
found to be incompetent, or (iii) becomes the subject of an order for relief on
a proceeding under the federal bankruptcy laws or other similar laws.
(i) DEATH OF TRUSTEE. The rights and duties of
the Trustee hereunder shall terminate on the death of an individual Trustee and
no interest in any of the property owned or held by the Trustee nor any of the
rights or duties of the Trustee may be transferred by will, devise, succession
or in any manner except as provided in this Agreement. The heirs,
administrators and executors of the Trustee shall, however, have the right to
convey any property held by the Trustee to the successor Trustee.
(j) SUCCESSOR TRUSTEE. In the event of the
resignation, removal or death of the Trustee, the Trustee shall be succeeded by
a successor Trustee designated by Stephens Group, Inc. who shall not be a
Stephens Party (as defined in Section 5(a)). Any successor Trustee shall
succeed to all of the rights and obligations of the Trustee hereunder. The
Trustee shall not be liable for the selection of a successor Trustee hereunder.
Upon receipt of the identity of the successor Trustee, the Trustee shall either
deliver the property then held hereunder to the successor Trustee, less
Trustee's fees, costs and expenses or other obligations owed to the Trustee, or
hold such property (or any portion thereof), pending distribution, until all
such fees, costs and expenses or other obligations are paid.
Upon delivery of the property to successor Trustee,
the Trustee shall have no further duties, responsibilities or obligations
hereunder.
4. RIGHTS AND DUTIES OF STOCKHOLDERS.
(a) CASH DIVIDENDS. The Stockholders shall be
entitled to receive from time to time payments equal to the amount of cash
dividends, if any, collected or received by the Trustee with respect to the
shares of Stock in proportion to their respective interests in the Voting
Trust. These payments shall be made as
-5-
<PAGE> 6
soon as practicable after the receipt of the dividends at the risk and expense
of the Stockholder.
(b) SHARE DIVIDENDS. If the Trustee receives any
additional shares of capital stock of the Corporation as a dividend or other
distribution with respect to any shares of Stock, the Trustee shall hold such
shares subject to this Agreement for the benefit of the Stockholders in
proportion to their respective interests, and the shares shall become subject
to all of the terms and conditions of this Agreement to the same extent as if
they were originally deposited hereunder. The Trustee shall issue Voting Trust
Certificates in respect of these shares to the Stockholders of record at the
close of business on the record date determined pursuant to the provisions of
Section 4(d).
(c) OTHER DISTRIBUTIONS TO STOCKHOLDERS. If at
any time during the continuation of this Agreement the Trustee shall receive or
collect any moneys through a distribution by the Corporation to its
shareholders, other than in payment of cash dividends, or shall receive any
property (other than shares of capital stock of the Corporation) through a
distribution by the Corporation to its shareholders, the Trustee shall promptly
distribute such money or other property to the Stockholders, in proportion to
their respective interests, registered at the close of business on the record
date determined pursuant to the provisions of Section 4(d).
(d) RECORD DATE FOR DISTRIBUTIONS. The date
fixed by the Board of Directors of the Corporation for closing the transfer
books of the Corporation shall constitute the record date for the determination
of the Stockholders entitled to receive the payment or distribution of
dividends or the distribution of rights.
(e) ACQUISITION OF ADDITIONAL SHARES. At such
time as a Stockholder acquires additional shares of stock of the Corporation,
other than pursuant to Section 4(b), or disposes of shares of stock of the
Corporation, such Stockholder shall promptly notify Stephens Inc., to the
attention of Warren A. Stephens and David A. Knight, of such acquisition or
disposition.
(f) AMENDMENT OF SCHEDULE 13D. Each Stockholder
shall take any and all reasonable action necessary to assist the Trustee in
filing a prompt Schedule 13D with the U.S. Securities and Exchange Commission
to reflect the arrangements set forth herein.
5. TRANSFER OF THE STOCK.
(a) PERMITTED SALE/TRANSFER. Except as provided
below, no sale or transfer of Stock held under this Voting Trust is permitted
during the term of this Voting Trust. Nothing herein shall restrict the rights
of Stockholders to sell
-6-
<PAGE> 7
or transfer all or any shares of the Stock to any person other than Stephens
Inc. or any person, firm or corporation that is an "affiliate" of Stephens Inc.
under the Securities Act or the Exchange Act (Stephens Inc. and each such
person, firm or corporation being hereinafter referred to as a "Stephens
Party"); provided, however, that any such sale or transfer must have the
consent of the Corporation, such consent to be evidenced by the consent of a
majority of the Board of Directors of the Corporation (excluding for such
purposes Jon E.M. Jacoby, and any members of the Corporation's Board of
Directors who are affiliates, employees, officers, directors, general partners
or agents of either Stephens Inc. or Stephens Group, Inc.) except for sales or
transfers (i) pursuant to Rule 144 under the Securities Act (treating Rule
144(k) as inapplicable regardless of its availability to any Stockholder, and
aggregating all sales or transfers by all Stockholders occurring within any
three-month period for purposes of Rule 144(e)), and (ii) in connection with a
business combination, tender offer or other fundamental corporate transaction
under which a third-party acquiror obtains control of the Corporation (other
than solely through the purchase of the Stock).
Notwithstanding the foregoing, any Stockholder may sell or
transfer all or any portion of the Stock to a Stephens Party, but only if the
shares of Stock so transferred remain deposited in and subject to the terms of
this Voting Trust, in which case the transferee shall execute the Consent
attached hereto as Exhibit C and will be deemed a Stockholder, and the Trustee
will issue to the transferee one or more Voting Trust Certificates in respect
thereof.
Notwithstanding the foregoing, the Stockholders may accept the
imposition of transfer restrictions on the Stock in addition to those set forth
herein, and will deliver to the Trustee copies of any such restrictions. The
Trustee shall have no duties or responsibilities with respect to such other
restrictions.
(b) PROCEDURE FOR EFFECTING SALE OR TRANSFER OF
STOCK. Upon the sale or transfer of all or any portion of the Stock, the
transferring Stockholder shall deliver to the Trustee (i) a notice specifying
the number of shares transferred and a representation that the transfer may be
effected under any restrictions on transfer not set forth herein and, in the
case of a transfer under which the shares transferred will not remain subject
to the Voting Trust, a notice specifying to whom delivery of certificates
representing such shares, duly endorsed by the Trustee in blank, shall be
delivered, together with a written representation on the part of the
transferring Stockholder that such transfer is in accordance with the
requirements of Section 5(a) above, and (ii) if the transferee's shares will be
subject to the Voting Trust and bound by the terms of this Agreement, an
executed counterpart signature page to this Agreement executed by the
transferee under which the transferee consents to being deemed a Stockholder
hereunder for all purposes. The Stockholder's or transferee's failure to
deliver an executed counterpart signature page in no way limits or affects the
application of the Voting Trust or the terms of this Agreement to a transferee
or its shares if by the terms
-7-
<PAGE> 8
hereof such shares are to be subject to the Voting Trust. The Trustee will
have no duty to determine whether any transfer is in accordance with the
requirements of Section 5(a) above, but shall be permitted to rely upon the
written advice of the Stockholder and of Stephens Inc. In the case of a
transfer of shares to a transferee who will not be required to maintain the
shares in the Voting Trust, upon receipt of all required documentation from the
transferring Stockholder and the written advice of the Stockholder and Stephens
Inc. the Trustee shall request that the Corporation deliver or cause to be
delivered the appropriate number of shares of Stock as instructed. Transferred
shares not required to be subject to the Voting Trust will be free of any
restrictions under this Agreement.
6. TERM OF VOTING TRUST AGREEMENT.
(a) IRREVOCABILITY OF TRUST. The Voting Trust
created by this Agreement is declared expressly irrevocable except as otherwise
specifically stated herein.
(b) This Agreement and the Voting Trust and
transfer restrictions created hereby shall terminate upon the earlier to occur
of:
(i) the expiration of ten (10) years
from the date hereof;
(ii) the sale or transfer of all of the
Stock to transferees under circumstances in which no shares of the Stock are
required to be subject to the Voting Trust in accordance with Section 5 of
this Agreement;
(iii) delivery to the Trustee of a
certificate of Stephens Inc., in form and substance satisfactory to the
Trustee, that Stephens Inc. no longer engages in market-making activities and
other principal transactions in the Common Stock of the Corporation and will
not so engage until it has received a written opinion of nationally recognized
securities counsel that Stephens Inc. will not be deemed an "affiliate" of the
Corporation under the Securities Act or the Exchange Act;
(iv) delivery to the Trustee of a
certificate of Stephens Inc., in form and substance satisfactory to the
Trustee, that a shelf registration statement for the Corporation registering
the market- making activities and other principal transactions of Stephens Inc.
has been filed with and declared effective by the U.S. Securities and Exchange
Commission and that Stephens Inc. undertakes to deliver a prospectus with the
confirmation of each sale by it as principal; or
(v) delivery to the Trustee of a written
opinion of nationally recognized securities counsel, in form and substance
satisfactory to Stephens Inc.
-8-
<PAGE> 9
and the Trustee, that after giving effect to termination of the Voting Trust
Stephens Inc. will not be deemed an "affiliate" of the Corporation under the
Securities Act or the Exchange Act.
(c) RETURN OF STOCK CERTIFICATES AFTER
TERMINATION. As soon as practicable after the termination of this Agreement,
upon payment by Stephens Inc. of a sum sufficient to cover any governmental
charge on the transfer or delivery of the certificates for shares of Stock that
remained subject to the Voting Trust immediately prior to the termination of
this Agreement, the Trustee shall deliver to the Stockholders (or their
designees) certificates representing the number of shares of Stock to which
they are entitled in accordance with their respective interests subject to the
Voting Trust immediately prior to the termination of this Agreement or shall
direct the Corporation to deliver or cause to be delivered the appropriate
certificates to the Stockholders.
7. RECORDS AND BOOKS.
(a) RECORD OF SHARES. The Trustee shall maintain
a record of all stock certificates of the Corporation which are transferred to
the Trustee. The Trustee shall receive and hold the new stock certificates
issued by the Corporation in the name of the Trustee and shall maintain a
record indicating the date of issuance of the certificates, the certificate
numbers, the name of the Stockholders whose shares are represented by such
certificates, the date of receipt of the certificates, and the place in which
the certificates are held by it.
(b) RECORD OF VOTING TRUST CERTIFICATES. The
Trustee shall keep a record of the holders of Voting Trust Certificates, which
record shall indicate the names and addresses of all such holders and the
number of shares of Stock in respect of which the Voting Trust Certificate held
by each is issued, and shall deposit a copy of such record with the Corporation
at its registered office or principal place of business.
(c) OTHER RECORDS. The Trustee shall maintain
such other records and books as to enable it to carry out the terms and
provisions of this Agreement.
(d) INSPECTION OF RECORDS. Pursuant to Section
218 of the Delaware General Corporation Law, this Agreement and the record of
the Stockholders maintained by the Trustee shall be subject to the same right
of examination by a shareholder of the Corporation, in person or by agent or
attorney, as are the books and records of the Corporation under applicable laws
and the Certificate of Incorporation and Bylaws of the Corporation.
-9-
<PAGE> 10
8. MISCELLANEOUS.
(a) ADDITIONAL ACTIONS. Each of the parties
hereto agrees to take or cause to be taken such further actions, to execute and
deliver or cause to be executed and delivered such further instruments and to
use their reasonable best efforts to obtain such requisite consents as any
other party may from time to time reasonably request in order to fully
effectuate the purposes, terms and conditions of this Agreement.
(b) NOTICES. All notices and other
communications given under this Agreement shall be in writing and shall be
deemed to have been duly given when delivered in person or mailed by first
class, registered mail, postage prepaid, or by facsimile transmission, telegram
or overnight courier and addressed to the parties at their addresses shown
below:
(i) If to Trustee:
James Sommers
237 Cherokee Road
Charlotte, North Carolina 28207
(ii) If to Stephens Inc.:
Stephens Inc.
111 Center Street
Little Rock, Arkansas 72201
Attention: Warren A. Stephens and
David A. Knight
(iii) If to any other Stockholder:
Such Stockholder's address as it
appears in the records of the
Trustee as furnished to the Trustee
by such Stockholder in writing
or to such other address as any of them by written notice to the others may
from time to time designate. Each notice or other communication which shall be
personally delivered, mailed, telecopied or couriered in the manner described
above, or which shall be delivered to a telegraph company, shall be deemed
sufficiently received for all purposes at such time as it is delivered to the
addressee (with any return receipt or delivery receipt being deemed conclusive
evidence of such delivery) or at such time as delivery is refused by the
addressee upon presentation.
-10-
<PAGE> 11
(c) SEVERABILITY. If any part of any provision
of this Agreement or any other agreement, document or writing given pursuant to
or in connection with this Agreement shall be invalid or unenforceable under
applicable law, said part shall be ineffective to the extent of such invalidity
only, without in any way affecting the remaining parts of said provisions or
the remaining provisions of said agreement.
(d) BINDING EFFECT. This Agreement shall be
binding upon and shall inure to the benefit of the parties hereto and their
respective heirs, devisees, executors, administrators, legal representatives,
successors and assigns.
(e) AMENDMENT. No amendment or modification of
this Agreement, and no waiver hereunder, shall be valid or binding unless set
forth in a writing duly executed by the party against whom enforcement of the
amendment, modification or waiver is sought.
(f) PRONOUNS. All pronouns and any variations
thereof shall be deemed to refer to the masculine, feminine, neuter, singular
or plural, as identity of the person or entity may require.
(g) HEADINGS. Section and subsection headings
contained in this Agreement are inserted for convenience of reference only,
shall not be deemed to be a part of this Agreement for any purpose and shall
not in any way define or affect the meaning, construction or scope of any of
the provisions hereof.
(h) GOVERNING LAW. This Agreement, the rights
and obligations of the parties hereto, and any claims or disputes relating
thereto, shall be governed by and construed in accordance with the laws of the
State of Delaware (but not including the choice of law rules thereof).
(i) EXECUTION IN COUNTERPARTS. To facilitate
execution, this Agreement may be executed in as many counterparts as may be
required; and it shall not be necessary that the signatures of, or on behalf
of, each party, or that the signatures of all persons required to bind any
party, appear on each counterpart; but it shall be sufficient that the
signature of, or on behalf of, each party, or that the signatures of the
persons required to bind any party, appear on one or more of the counterparts.
All counterparts shall collectively constitute a single agreement. It shall
not be necessary in making proof of this agreement to produce or account for
more than a number of this Agreement to produce or account for more than a
number of counterparts containing the respective signatures of, or on behalf
of, all the parties hereto.
(j) STOCKHOLDER REPRESENTATIONS. Each
Stockholder hereby represents and warrants (a) that this Agreement has been
duly authorized, executed and delivered on its behalf and constitutes its
legal, valid and binding
-11-
<PAGE> 12
obligation and (b) that the execution, delivery and performance of this
Agreement by the Stockholder does not and will not violate any applicable law or
regulation.
-12-
<PAGE> 13
IN WITNESS WHEREOF, the parties hereto have duly executed this
Voting Trust Agreement, or have caused this Voting Trust Agreement to be duly
executed on their behalf, as of the day and year first hereinabove set forth.
<TABLE>
<S> <C> <C>
WITNESS/ATTEST: TRUSTEE:
- ----------------- ---------------------------------
James Sommers, as Voting Trustee
STOCKHOLDERS:
STEPHENS GROUP, INC.
By:
---------------------------------
Name:
JACKSON T. STEPHENS TRUST NO. ONE UID 1/4/88
By:
---------------------------------
Name: Jackson T. Stephens, co-trustee
---------------------------------
Name: Warren A. Stephens, co-trustee
BESS C. STEPHENS TRUST UID 1/4/85
By:
---------------------------------
Name: Bess C. Stephens, co-trustee
---------------------------------
Name: J.T. Stephens, co-trustee
---------------------------------
Name: Vernon J. Giss, co-trustee
</TABLE>
-13-
<PAGE> 14
<TABLE>
<S> <C>
WARREN A. STEPHENS TRUST UID 9/30/87
By:
---------------------------------
Name: Warren A. Stephens, trustee
WARREN & HARRIET STEPHENS CHILDREN'S TRUST UID 9/30/87
By:
---------------------------------
Name: Jon E.M. Jacoby, trustee
HARRIET CALHOUN STEPHENS TRUST UID 3/22/84
By:
---------------------------------
Name: Harriet Calhoun Stephens, trustee
ELIZABETH ANN STEPHENS CAMPBELL REVOCABLE TRUST UID
8/25/92
By:
---------------------------------
Name: Elizabeth Ann Stephens Campbell, trustee
</TABLE>
-14-
<PAGE> 15
<TABLE>
<S> <C>
W. R. STEPHENS, JR. REVOCABLE TRUST UID 2/19/93
By:
---------------------------------
Name: W.R. Stephens, Jr., trustee
JACKSON T. STEPHENS GRANDCHILDRENS TRUST AAAA UID 1/26/96
By:
---------------------------------
Name: Jon E.M. Jacoby, trustee
PAMELA DIANE STEPHENS TRUST ONE UID 4/10/92
By:
---------------------------------
Name: Pamela Diane Stephens, co-trustee
---------------------------------
Name: Bess C. Stephens, co-trustee
---------------------------------
Name: Elizabeth Ann Stephens Campbell,
co-trustee
---------------------------------
Name: W.R. Stephens, Jr., co-trustee
</TABLE>
-15-
<PAGE> 16
<TABLE>
<S> <C>
WARREN MILES AMERINE STEPHENS TRUST UID 9/10/86
By:
---------------------------------
Name: Warren A. Stephens, trustee
JOHN CALHOUN STEPHENS TRUST UID 12/1/87
By:
---------------------------------
Name: Warren A. Stephens, trustee
LAURA WHITAKER STEPHENS TRUST UID 12/28/90
By:
---------------------------------
Name: Warren A. Stephens, trustee
CORAL TWO CORPORATION
By:
---------------------------------
Name: Jon E.M. Jacoby, President
CORAL PARTNERS
By:
---------------------------------
Name: Jon E.M. Jacoby, managing partner
---------------------------------
Name: Warren Stephens, managing partner
</TABLE>
-16-
<PAGE> 17
<TABLE>
<S> <C>
JON E.M. JACOBY
By:
---------------------------------
JACOBY ENTERPRISES, INC.
By:
---------------------------------
Name: Jon E.M. Jacoby, President
J&J PARTNERS
By:
---------------------------------
Name: Jon E.M. Jacoby, managing partner
DOUG MARTIN
By:
---------------------------------
CURTIS F. BRADBURY, JR.
By:
---------------------------------
BRADBURY ENTERPRISES
By:
---------------------------------
Name: Curtis F. Bradbury, Jr.
</TABLE>
-17-
<PAGE> 18
ACKNOWLEDGMENT
This is to acknowledge that a copy of this Voting Trust
Agreement has been received by this Corporation and that the Secretary has been
furnished with a copy thereof to place in both the Minute Book of the
Corporation and to attach to the stock ledger of the Corporation.
---------------------------------
By: (SEAL)
---------------------------------
Name:
----------------------------
Title:
---------------------------
<PAGE> 19
EXHIBIT A
<TABLE>
<CAPTION>
NAME OF STOCKHOLDER NUMBER OF SHARES
<S> <C>
Stephens Group, Inc. 3,704,050
Jackson T. Stephens Trust No. One UID 1/4/88 121,908
Bess C. Stephens Trust UID 1/4/85 151,204
Warren A. Stephens Trust UID 9/30/87 87,989
Warren & Harriet Stephens Children's Trust UID 9/30/87 130,679
Harriet Calhoun Stephens Trust UID 3/22/84 60,618
Elizabeth Ann Stephens Campbell Revocable Trust UID 304,362
8/25/92
W. R. Stephens, Jr. Revocable Trust UID 2/19/93 364,363
Jackson T. Stephens Grandchildrens Trust AAAA UID 1/26/96 492,289
Pamela Diane Stephens Trust One UID 4/10/92 366,871
Warren Miles Amerine Stephens Trust UID 9/10/86 63,720
John Calhoun Stephens Trust UID 12/1/87 63,720
Laura Whitaker Stephens Trust UID 12/28/90 63,270
Coral Two Corporation 143,748
Coral Partners 94,089
Jon E.M. Jacoby 94,089
Jacoby Enterprises, Inc. 209,088
J&J Partners 52,272
</TABLE>
<PAGE> 20
<TABLE>
<S> <C>
Doug Martin 67,953
Curtis F. Bradbury, Jr. 104,544
Bradbury Enterprises 52,272
</TABLE>
<PAGE> 21
EXHIBIT B
VOTING TRUST CERTIFICATE
THIS VOTING TRUST CERTIFICATE HAS NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS AND
MAY BE REOFFERED AND SOLD ONLY IF SO REGISTERED OR IF AN
EXEMPTION FROM REGISTRATION IS AVAILABLE.
NO. R-1
This certifies that the undersigned Trustee has received
certificates representing [_______] shares of Common Stock, par value $.001 per
share (the "Shares"), of Power-One, Inc. (the "Corporation") from
__________________________ (hereinafter referred to as the "Holder"), duly
endorsed in blank or to the undersigned Trustee on the following terms and
conditions pursuant to the Voting Trust Agreement, dated June __, 1998 (the
"Voting Trust Agreement") among the Trustee, _________________ and additional
parties who may become parties thereto:
Capitalized terms used herein but not defined herein shall
have the meanings assigned to such terms in the Voting Trust Agreement.
VOTING RIGHTS
The undersigned Trustee during the term of the Voting Trust
Agreement is the owner of the Shares for all purposes relating to the Voting
Trust Agreement and in all matters of the Corporation for which the shares may
be voted. The Trustee shall exercise voting rights in respect of the Shares as
provided in the Voting Trust Agreement. No voting rights of the shares of the
Corporation are granted by this Certificate and only those rights provided to
the holders of Voting Trust Certificates in the Voting Trust Agreement are
represented by this Certificate.
DIVIDENDS AND DISTRIBUTIONS
The Holder shall be entitled to receive, subject to the
limitations set forth in the Voting Trust Agreement, all dividends and other
distributions of the Corporation received by the undersigned Trustee in respect
of the Shares, except
<PAGE> 22
that the Trustee shall receive and hold any stock dividends pursuant to the
terms of the Voting Trust Agreement.
TERMINATION
This Agreement and the Voting Trust and transfer restrictions
created hereby shall terminate upon the earlier to occur of: (i) the expiration
of ten (10) years from the date hereof; (ii) the sale or transfer of all of the
Stock in accordance with the Voting Trust Agreement; (iii) delivery to the
Trustee of a certificate of Stephens Inc., in form and substance satisfactory to
the Trustee, that Stephens Inc. no longer engages in market-making activities
and other principal transactions in the Common Stock of the Corporation and will
not so engage until it has received a written opinion of nationally recognized
securities counsel that Stephens Inc. will not be deemed an "affiliate" of the
Corporation under the Securities Act of 1933, as amended (the "Securities Act"),
or the Securities Exchange Act of 1934, as amended (the "Exchange Act"); (iv)
delivery to the Trustee of a certificate of Stephens Inc., in form and substance
satisfactory to the Trustee, that a shelf registration statement for the
Corporation registering the market- making activities and other principal
transactions of Stephens Inc. has been filed with and declared effective by the
U.S. Securities and Exchange Commission and that Stephens Inc. undertakes to
deliver a prospectus with the confirmation of each sale by it as principal; or
(v) delivery to the Trustee of a written opinion of nationally recognized
securities counsel, in form and substance satisfactory to Stephens Inc. and the
Trustee, that after giving effect to termination of the Voting Trust Stephens
Inc. will not be deemed an "affiliate" of the Corporation under the Securities
Act or the Exchange Act.
-2-
<PAGE> 23
TRANSFER OF CERTIFICATES
This Certificate shall not be transferable.
DATED, the _____ day of __________________________, ______.
JAMES SOMMERS
-------------------------------
as VOTING TRUSTEE
-------------------------------
-3-
<PAGE> 24
EXHIBIT C
CONSENT
The undersigned, ______________________________, being a
holder of _______ shares (the "Shares") of common stock par value $.001 per
share, of Power-One, Inc. (the "Common Stock") hereby (i) agrees to become a
party to the Voting Trust Agreement dated as of June __, 1998 (the "Voting
Trust Agreement") relating to the Common Stock, (ii) agrees to be bound by all
the provisions thereof as if the undersigned were an original party thereto,
and (iii) agrees to surrender the certificates representing the Shares to the
Trustee under the Voting Trust Agreement in exchange for a Voting Trust
Certificate as provided in the Agreement.
Dated:
------------------- ---------------------------
By:
---------------------------
<PAGE> 1
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Thousand Dollars
($10,000), the receipt of which is hereby acknowledged, Jackson T. Stephens
("Assignor"), hereby assigns to James Terry ("Assignee"), without recourse, all
of its economic right, title and interest in and to 10,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 28th day of February, 1996.
ASSIGNOR:
By: /s/ J. T. Stephens
------------------------------------
J.T. Stephens Trust One, UID 1/4/88
<PAGE> 2
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Fifteen Thousand
Dollars ($15,000), the receipt of which is hereby acknowledged, Jackson T.
Stephens ("Assignor"), hereby assigns to Karen Trimmer ("Assignee"), without
recourse, all of its economic right, title and interest in and to 15,000 shares
of common stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 6th day of March, 1996.
ASSIGNOR:
By: /s/ J. T. Stephens
------------------------------------
J.T. Stephens Trust One, UID 1/4/88
<PAGE> 3
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Warren A. Stephens Trust
("Assignor"), hereby assigns to John Calhoun ("Assignee"), without recourse,
all of its economic right, title and interest in and to 10,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Warren A. Stephens Trust
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 4
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Harriet Calhoun Stephens Trust
("Assignor"), hereby assigns to John Calhoun ("Assignee"), without recourse,
all of its economic right, title and interest in and to 10,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Harriet Calhoun Stephens Trust
By: /s/ Harriet C. Stephens
---------------------------------------
Harriet C. Stephens, Trustee
<PAGE> 5
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Warren A. Stephens Trust
("Assignor"), hereby assigns to Rebecca Dickson ("Assignee"), without recourse,
all of its economic right, title and interest in and to 10,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Warren A. Stephens Trust
By: /s/ Warren A. Stephens
-----------------------------------
Warren A. Stephens, Trustee
<PAGE> 6
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Harriet Calhoun Stephens Trust
("Assignor"), hereby assigns to Rebecca Dickson ("Assignee"), without recourse,
all of its economic right, title and interest in and to 10,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Harriet Calhoun Stephens Trust
By: /s/ Harriet C. Stephens
-----------------------------------
Harriet C. Stephens, Trustee
<PAGE> 7
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Warren A. Stephens Trust
("Assignor"), hereby assigns to Sarah L. Dickson ("Assignee"), without
recourse, all of its economic right, title and interest in and to 10,000 shares
of common stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Warren A. Stephens Trust
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 8
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Harriet Calhoun Stephens Trust
("Assignor"), hereby assigns to Sarah L. Dickson ("Assignee"), without
recourse, all of its economic right, title and interest in and to 10,000 shares
of common stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Harriet Calhoun Stephens Trust
By: /s/ Harriet C. Stephens
----------------------------------------
Harriet C. Stephens, Trustee
<PAGE> 9
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Warren A. Stephens Trust
("Assignor"), hereby assigns to Paula Calhoun Dickson ("Assignee"), without
recourse, all of its economic right, title and interest in and to 10,000 shares
of common stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Warren A. Stephens Trust
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 10
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Harriet Calhoun Stephens Trust
("Assignor"), hereby assigns to Paula Calhoun Dickson ("Assignee"), without
recourse, all of its economic right, title and interest in and to 10,000 shares
of common stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 1st day of March, 1996.
ASSIGNOR:
Harriet Calhoun Stephens Trust
By: /s/ Harriet C. Stephens
-----------------------------------
Harriet C. Stephens, Trustee
<PAGE> 11
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Warren A. Stephens Trust
("Assignor"), hereby assigns to Steve Baudier ("Assignee"), without recourse,
all of its economic right, title and interest in and to 5,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 7th day of March, 1996.
ASSIGNOR:
Warren A. Stephens Trust
By: /s/ Warren A. Stephens
-----------------------------------
Warren A. Stephens, Trustee
<PAGE> 12
AMENDMENT TO
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of forty-six thousand, two hundred
and fifty dollars ($46,250.00), the receipt and sufficiency of which is hereby
acknowledged by the undersigned, Steve Baudier ("Assignee"). Assignee does
hereby sell, reassign and reconvey to Warren A. Stephens Trust all of its
right, title and interest in and to 2,500 shares of common stock of Power-One,
Inc., a Delaware corporation. The 2,500 shares being reconveyed hereby
comprise a portion of the 5,000 shares of Power-One, Inc. common stock assigned
to Assignee pursuant to that certain Assignment of Economic Interest (the
"Assignment"), dated March 7, 1996 from Warren A. Stephens Trust as Assignor to
Assignee.
The Assignment is hereby amended to reduce the number of
shares of Power-One, Inc. common stock subject to the Assignment, following the
reconveyance contemplated by this Amendment, from 5,000 to 2,500 shares.
IN WITNESS WHEREOF, the Assignee and the Warren A. Stephens
Trust have executed and delivered this Amendment to Assignment of Economic
Interest as of the 12th day of November, 1997.
UNDERSIGNED:
ASSIGNEE:
/s/ Steve Baudier
---------------------------------------
Steve Baudier
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 13
AMENDMENT TO
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of seven thousand, six hundred and
twenty-five dollars ($7,625.00), the receipt and sufficiency of which is hereby
acknowledged by the undersigned, Steve Baudier ("Assignee"). Assignee does
hereby sell, reassign and reconvey to Warren A. Stephens Trust all of its
right, title and interest in and to 500 shares of common stock of Power-One,
Inc., a Delaware corporation. The 500 shares being reconveyed hereby comprise
a portion of the 5,000 shares of Power-One, Inc. common stock assigned to
Assignee pursuant to that certain Assignment of Economic Interest (the
"Assignment"), dated March 7, 1996 from Warren A. Stephens Trust as Assignor to
Assignee.
The Assignment is hereby amended to reduce the number of
shares of Power-One, Inc. common stock subject to the Assignment, following the
reconveyance contemplated by this Amendment, from 5,000 to 2,000 shares.
IN WITNESS WHEREOF, the Assignee and the Warren A. Stephens
Trust have executed and delivered this Amendment to Assignment of Economic
Interest as of the 16th day of January, 1998.
UNDERSIGNED:
ASSIGNEE:
/s/ Steve Baudier
---------------------------------------
Steve Baudier
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 14
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Warren A. Stephens Trust
("Assignor"), hereby assigns to Earsie Carter ("Assignee"), without recourse,
all of its economic right, title and interest in and to 5,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 7th day of March, 1996.
ASSIGNOR:
Warren A. Stephens Trust
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 15
AMENDMENT TO
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of thirty-six thousand dollars
($36,000), the receipt and sufficiency of which is hereby acknowledged by the
undersigned, Earsie Carter ("Assignee"). Assignee does hereby sell, reassign
and reconvey to Warren A. Stephens Trust all of its right, title and interest
in and to 2,000 shares of common stock of Power-One, Inc., a Delaware
corporation. The 2,000 shares being reconveyed hereby comprise a portion of
the 5,000 shares of Power-One, Inc. common stock assigned to Assignee pursuant
to that certain Assignment of Economic Interest (the "Assignment"), dated March
7, 1996 from Warren A. Stephens Trust as Assignor to Assignee.
The Assignment is hereby amended to reduce the number of
shares of Power-One, Inc. common stock subject to the Assignment, following the
reconveyance contemplated by this Amendment, from 5,000 to 3,000 shares.
IN WITNESS WHEREOF, the Assignee and the Warren A. Stephens
Trust have executed and delivered this Amendment to Assignment of Economic
Interest as of the second day of October, 1997.
UNDERSIGNED:
ASSIGNEE:
/s/ Earsie Carter
---------------------------------------
Earsie Carter, Individually
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 16
AMENDMENT TO
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of eighteen thousand, six hundred and
twenty-five dollars ($18,625), the receipt and sufficiency of which is hereby
acknowledged by the undersigned, Earsie Carter ("Assignee"). Assignee does
hereby sell, reassign and reconvey to Warren A. Stephens Trust all of its
right, title and interest in and to 1,000 shares of common stock of Power-One,
Inc., a Delaware corporation. The 1,000 shares being reconveyed hereby
comprise a portion of the 5,000 shares of Power-One, Inc. common stock assigned
to Assignee pursuant to that certain Assignment of Economic Interest (the
"Assignment"), dated March 7, 1996 from Warren A. Stephens Trust as Assignor to
Assignee.
The Assignment is hereby amended to reduce the number of
shares of Power-One, Inc. common stock subject to the Assignment, following the
reconveyance contemplated by this Amendment, from 5,000 to 2,000 shares.
IN WITNESS WHEREOF, the Assignee and the Warren A. Stephens
Trust have executed and delivered this Amendment to Assignment of Economic
Interest as of the sixth day of October, 1997.
UNDERSIGNED:
ASSIGNEE:
/s/ Earsie Carter
---------------------------------------
Earsie Carter, Individually
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 17
AMENDMENT TO
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of fifteen thousand, two hundred and
fifty dollars ($15,250), the receipt and sufficiency of which is hereby
acknowledged by the undersigned, Earsie Carter ("Assignee"). Assignee does
hereby sell, reassign and reconvey to Warren A. Stephens Trust all of its
right, title and interest in and to 1,000 shares of common stock of Power-One,
Inc., a Delaware corporation. The 1,000 shares being reconveyed hereby
comprise a portion of the 5,000 shares of Power-One, Inc. common stock assigned
to Assignee pursuant to that certain Assignment of Economic Interest (the
"Assignment"), dated March 7, 1996 from Warren A. Stephens Trust as Assignor to
Assignee.
The Assignment is hereby amended to reduce the number of
shares of Power-One, Inc. common stock subject to the Assignment, following the
reconveyance contemplated by this Amendment, from 5,000 to 1,000 shares.
IN WITNESS WHEREOF, the Assignee and the Warren A. Stephens
Trust have executed and delivered this Amendment to Assignment of Economic
Interest as of the 14th day of January, 1998.
UNDERSIGNED:
ASSIGNEE:
/s/ Earsie Carter
---------------------------------------
Earsie Carter, Individually
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 18
AMENDMENT TO
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of seven thousand, seven hundred and
fifty dollars ($7,750.00), the receipt and sufficiency of which is hereby
acknowledged by the undersigned, Earsie Carter ("Assignee"). Assignee does
hereby sell, reassign and reconvey to Warren A. Stephens Trust all of its
right, title and interest in and to 500 shares of common stock of Power-One,
Inc., a Delaware corporation. The 500 shares being reconveyed hereby comprise
a portion of the 5,000 shares of Power-One, Inc. common stock assigned to
Assignee pursuant to that certain Assignment of Economic Interest (the
"Assignment"), dated March 7, 1996 from Warren A. Stephens Trust as Assignor to
Assignee.
The Assignment is hereby amended to reduce the number of
shares of Power-One, Inc. common stock subject to the Assignment, following the
reconveyance contemplated by this Amendment, from 5,000 to 500 shares.
IN WITNESS WHEREOF, the Assignee and the Warren A. Stephens
Trust have executed and delivered this Amendment to Assignment of Economic
Interest as of the 6th day of March, 1998.
UNDERSIGNED:
ASSIGNEE:
/s/ Earsie Carter
---------------------------------------
Earsie Carter, Individually
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 19
ASSIGNMENT OF ECONOMIC INTEREST
For and in consideration of the sum of Ten Dollars ($10.00),
the receipt of which is hereby acknowledged, Warren A. Stephens Trust
("Assignor"), hereby assigns to Becky Estes ("Assignee"), without recourse, all
of its economic right, title and interest in and to 5,000 shares of common
stock ("Shares") of Power-One, Inc., a Delaware corporation.
Assignor agrees to transfer title to the Shares to Assignee
along with a stock certificate at such time as Assignor is under no contractual
or legal restriction to do so. Until such time as Assignor delivers such stock
certificate to Assignee, Assignor shall remain the record holder of the Shares
and shall retain all voting rights with respect to the Shares. Assignee shall
be entitled to all economic interest in the Shares (other than Assignor's right
to receive dividends for the payment of applicable income taxes).
Dated this 7th day of March, 1996.
ASSIGNOR:
Warren A. Stephens Trust
By: /s/ Warren A. Stephens
------------------------------------
Warren A. Stephens, Trustee
<PAGE> 1
AGREEMENT TO FILE
JOINT SCHEDULE 13D
Each of the undersigned, being a record owner or "beneficial owner" of
the common stock of Power-One, Inc. ("Common Stock"), hereby agrees to jointly
file a Schedule 13D with respect to their respective holdings of the Common
Stock and to include this agreement as an exhibit to such Schedule 13D.
IN WITNESS WHEREOF, each of the undersigned has executed and delivered
this agreement as of the 8th day of June, 1998.
STEPHENS GROUP, INC.
By: /s/ Jackson T. Stephens
---------------------------------
Jackson T. Stephens
Chairman of the Board of Directors
JACKSON T. STEPHENS TRUST NO. ONE
By: /s/ Jackson T. Stephens
---------------------------------
Jackson T. Stephens, Trustee
By: /s/ Warren A. Stephens
---------------------------------
Warren A. Stephens, Trustee
<PAGE> 2
BESS C. STEPHENS TRUST
By: /s/ Bess C. Stephens
---------------------------------
Bess C. Stephens, Trustee
By: /s/ Jackson T. Stephens
---------------------------------
Jackson T. Stephens, Trustee
By: /s/ Vernon J. Giss
---------------------------------
Vernon J. Giss, Trustee
WARREN A. STEPHENS TRUST
By: /s/ Warren A. Stephens
---------------------------------
Warren A. Stephens, Trustee
WARREN & HARRIET STEPHENS CHILDREN'S TRUST
By: /s/ Jon E.M. Jacoby
---------------------------------
Jon E.M. Jacoby, Trustee
HARRIET CALHOUN STEPHENS TRUST
By: /s/ Harriet C. Stephens
---------------------------------
Harriet C. Stephens, Trustee
ELIZABETH ANN STEPHENS CAMPBELL REVOCABLE
TRUST
By: /s/ Elizabeth Stephens Campbell
-----------------------------------
Elizabeth Stephens Campbell, Trustee
<PAGE> 3
W. R. STEPHENS, JR. REVOCABLE TRUST
By: /s/ Wilton R. Stephens, Jr.
---------------------------------
Wilton R. Stephens, Jr., Trustee
JACKSON T. STEPHENS GRANDCHILDRENS TRUST
AAAA
By: /s/ Jon E.M. Jacoby
---------------------------------
Jon E.M. Jacoby, Trustee
PAMELA DIANE STEPHENS TRUST ONE
By: /s/ Bess C. Stephens
---------------------------------
Bess C. Stephens, Trustee
By: /s/ Elizabeth Stephens Campbell
------------------------------------
Elizabeth Stephens Campbell, Trustee
By: /s/ Wilton R. Stephens, Jr.
---------------------------------
Wilton R. Stephens, Jr., Trustee
By: /s/ Pamela Diane Stephens
---------------------------------
Pamela Diane Stephens, Trustee
<PAGE> 4
WARREN MILES AMERINE STEPHENS TRUST
By: /s/ Warren A. Stephens
---------------------------------
Warren A. Stephens, Trustee
JOHN CALHOUN STEPHENS TRUST
By: /s/ Warren A. Stephens
---------------------------------
Warren A. Stephens, Trustee
LAURA WHITAKER STEPHENS TRUST
By: /s/ Warren A. Stephens
---------------------------------
Warren A. Stephens, Trustee
J&J PARTNERS
By: /s/ Jon E.M. Jacoby
---------------------------------
Jon E.M. Jacoby
JACOBY ENTERPRISES, INC.
By: /s/ Jon E.M. Jacoby
---------------------------------
Jon E.M. Jacoby, President
CORAL TWO CORPORATION
By: /s/ Jon E.M. Jacoby
---------------------------------
Jon E.M. Jacoby, President
<PAGE> 5
CORAL PARTNERS
By: /s/ Warren A. Stephens
---------------------------------
Warren A. Stephens
By: /s/ Jon E.M. Jacoby
---------------------------------
Jon E.M. Jacoby
BRADBURY ENTERPRISES
By: /s/ Curtis F. Bradbury, Jr.
---------------------------------
Curtis F. Bradbury, Jr.
/s/ Douglas H. Martin
---------------------------------
Douglas H. Martin
/s/ Curtis F. Bradbury, Jr.
---------------------------------
Curtis F. Bradbury, Jr.
/s/ Jackson T. Stephens
---------------------------------
Jackson T. Stephens
By: /s/ Warren A. Stephens
---------------------------------
Warren A. Stephens
By: /s/ Bess C. Stephens
---------------------------------
Bess C. Stephens
/s/ Vernon J. Giss
---------------------------------
Vernon J. Giss
<PAGE> 6
/s/ Jon E.M. Jacoby
---------------------------------
Jon E.M. Jacoby
/s/ Harriet C. Stephens
---------------------------------
Harriet C. Stephens
/s/ Elizabeth Stephens Campbell
-------------------------------------
Elizabeth Stephens Campbell
/s/ Wilton R. Stephens, Jr.
---------------------------------
Wilton R. Stephens, Jr.
/s/ Pamela Diane Stephens
---------------------------------
Pamela Diane Stephens
/s/ James Sommers
-----------------------------------------
James Sommers, trustee pursuant to Voting
Trust Agreement dated as of June 1, 1998
