Stephens Investments SC 13D/A CONNS / Stephens Investments ownership change

CUSIP No. 208242107

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 23)

Conn’s Inc.

(Name of Issuer)

Common Stock, par value $.01 per share

(Title of Class of Securities)

208242107

(CUSIP Number)

David A. Knight

Stephens Investments Holdings LLC

111 Center Street

Little Rock, AR 72201

(501) 377-2573

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

January 28, 2021

(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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 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 Rule 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 the 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).

CUSIP No. 208242107

SCHEDULE 13D

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Stephens Investments Holdings LLC
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   AF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   640,516
	8	Shared Voting Power   0
	9	Sole Dispositive Power   640,516
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   640,516
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)   2.2
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Stephens Inc.
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   WC
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   82,430
	8	Shared Voting Power   88,681
	9	Sole Dispositive Power   82,430
	10	Shared Dispositive Power   88,681

11	Aggregate Amount Beneficially Owned by Each Reporting Person   171,111
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)   0.6
14	Type of Reporting Person (See Instructions)   BD, CO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Harriet C. Stephens Trust
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   WC
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   342,081
	8	Shared Voting Power   0
	9	Sole Dispositive Power   342,081
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   342,081
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)   1.2
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

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 (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   234,972
	8	Shared Voting Power   0
	9	Sole Dispositive Power   234,972
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   234,972
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)   0.8
14	Type of Reporting Person (See Instructions)   IN

CUSIP No. 208242107

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 (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   207,256
	8	Shared Voting Power   6,300
	9	Sole Dispositive Power   207,256
	10	Shared Dispositive Power   6,300

11	Aggregate Amount Beneficially Owned by Each Reporting Person   213,556
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)   0.7
14	Type of Reporting Person (See Instructions)   IN

CUSIP No. 208242107

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 (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   1,439,492
	8	Shared Voting Power   4,039,170
	9	Sole Dispositive Power   1,439,492
	10	Shared Dispositive Power   4,039,170

11	Aggregate Amount Beneficially Owned by Each Reporting Person   5,478,662
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)   18.8
14	Type of Reporting Person (See Instructions)   IN

CUSIP No. 208242107

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 (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   0
	8	Shared Voting Power   2,336,624
	9	Sole Dispositive Power   0
	10	Shared Dispositive Power   2,336,624

11	Aggregate Amount Beneficially Owned by Each Reporting Person   2,336,624
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)   8.0%
14	Type of Reporting Person (See Instructions)   IN

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Harriet and Warren Stephens Family Foundation
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   11,000
	8	Shared Voting Power   0
	9	Sole Dispositive Power   11,000
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   11,000
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)   0.0
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Miles A. Stephens WAS Grantor Trust
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   128,450
	8	Shared Voting Power   0
	9	Sole Dispositive Power   128,450
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   128,450
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)   0.4
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   John C. Stephens WAS Grantor Trust
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   128,450
	8	Shared Voting Power   0
	9	Sole Dispositive Power   128,450
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   128,450
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)   0.4
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Laura W. Stephens WAS Grantor Trust
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   128,450
	8	Shared Voting Power   0
	9	Sole Dispositive Power   128,450
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   128,450
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)   0.4
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Paula W. & John P. Calhoun Family Trust - WMAS
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   113,734
	8	Shared Voting Power   0
	9	Sole Dispositive Power   113,734
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   113,734
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)   0.4
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Paula W. & John P. Calhoun Family Trust - JCS
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   113,734
	8	Shared Voting Power   0
	9	Sole Dispositive Power   113,734
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   113,734
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)   0.4
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Paula W. & John P. Calhoun Family Trust - LWS
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   113,734
	8	Shared Voting Power   0
	9	Sole Dispositive Power   113,734
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   113,734
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)   0.4
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Warren Miles Amerine Stephens
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   0
	8	Shared Voting Power   911,689
	9	Sole Dispositive Power   0
	10	Shared Dispositive Power   911,689

11	Aggregate Amount Beneficially Owned by Each Reporting Person   911,689
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)   3.1
14	Type of Reporting Person (See Instructions)   IN

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   John Calhoun Stephens
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   0
	8	Shared Voting Power   911,688
	9	Sole Dispositive Power   0
	10	Shared Dispositive Power   911,688

11	Aggregate Amount Beneficially Owned by Each Reporting Person   911,688
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)   3.1
14	Type of Reporting Person (See Instructions)   IN

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only)   Laura Whitaker Stephens
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   0
	8	Shared Voting Power   601,342
	9	Sole Dispositive Power   0
	10	Shared Dispositive Power   601,342

11	Aggregate Amount Beneficially Owned by Each Reporting Person   601,342
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)   2.1
14	Type of Reporting Person (See Instructions)   IN

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only) Warren Miles Amerine Stephens Family Trust One
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   143,333
	8	Shared Voting Power   0
	9	Sole Dispositive Power   143,333
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   143,333
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)   0.5
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only) John Calhoun Stephens Family Trust One
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   143,333
	8	Shared Voting Power   0
	9	Sole Dispositive Power   143,333
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   143,333
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)   0.5
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only) Laura Whitaker Stephens Family Trust One
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   PF
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   143,334
	8	Shared Voting Power   0
	9	Sole Dispositive Power   143,334
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   143,334
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)   0.5
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

1	Name of Reporting Persons   I.R.S. Identification No. of Above Persons (entities only) WAS Family Trust Five
2	Check the Appropriate Box if a Member of a Group (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   1,092,128
	8	Shared Voting Power   0
	9	Sole Dispositive Power   1,092,128
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   1,092,128
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)   3.7
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

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 (See Instructions)   (a)  ☐        (b)  ☒
3	SEC Use Only
4	Source of Funds (See Instructions)   OO
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

NUMBER OF SHARES  BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH	7	Sole Voting Power   431,546
	8	Shared Voting Power   0
	9	Sole Dispositive Power   431,546
	10	Shared Dispositive Power   0

11	Aggregate Amount Beneficially Owned by Each Reporting Person   431,546
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)   1.5
14	Type of Reporting Person (See Instructions)   OO

CUSIP No. 208242107

Introductory Statement

This Amendment No. 23 to Schedule 13D relates to the Common Stock, par value $.01 per share (the “Common Stock”), of Conn’s Inc., a Delaware corporation (the “Issuer”). This Amendment No. 23 amends and supplements (i) the statement originally filed on December 18, 2003 with the Securities and Exchange Commission (the “Commission”) by the reporting persons, (ii) Amendment No. 1 to the statement filed on June 2, 2004 with the Commission by the reporting persons, (iii) Amendment No. 2 to the statement filed on September 17, 2007 with the Commission by the reporting persons, (iv) Amendment No. 3 to the statement filed on February 1, 2008 with the Commission by the reporting persons, (v) Amendment No. 4 to the statement filed on October 8, 2008 with the Commission by the reporting persons, (vi) Amendment No. 5 to the statement filed on November 18, 2009 with the Commission by the reporting persons, (vii) Amendment No. 6 to the statement filed on October 22, 2010 with the Commission by the reporting persons, (viii) Amendment No. 7 to the statement filed on November 9, 2010 with the Commission by the reporting persons, (ix) Amendment No. 8 to the statement filed on December 15, 2010 with the Commission by the reporting persons, (x) Amendment No. 9 to the statement filed on January 13, 2012 with the Commission by the reporting persons, (xi) Amendment No. 10 to the statement filed on April 23, 2012 with the Commission by the reporting persons, (xii) Amendment No. 11 to the statement filed on December 12, 2012 with the Commission by the reporting persons, (xiii) Amendment No. 12 to the statement filed on January 10, 2013 with the Commission by the reporting persons, (xiv) Amendment No. 13 to the statement filed on December 10, 2013 with the Commission by the reporting persons, (xv) Amendment No. 14 to the statement filed on February 29, 2016 with the Commission by the reporting persons, (xvi) Amendment No. 15 to the statement filed on March 21, 2016 with the Commission by the reporting persons, (xvii) Amendment No. 16 to the statement filed on April 8, 2016 with the Commission by the reporting persons, (xviii) Amendment No. 17 to the statement filed on July 20, 2016 with the Commission by the reporting persons, (xix) Amendment No. 18 to the statement filed on September 26, 2016, (xx) Amendment No. 19 to the statement filed on January 7, 2019, (xxi) Amendment No. 20 to the statement filed on May 13, 2019, (xxii) Amendment No. 21 to the statement filed on February 10, 2020, and (xxiii) Amendment No. 22 to the statement filed on January 8, 2021 (collectively, the “Prior Filings” and collectively with this Amendment No. 23, this “Statement”). Unless otherwise defined herein, capitalized terms used herein shall have the meanings ascribed thereto in the Prior Filings. Except as set forth below, there are no changes to the Prior Filings. This Amendment No. 23 is filed to reflect an estate planning transfer from WAS Family Trust Five to Warren A. Stephens Trust.

ITEM 2 IDENTITY AND BACKGROUND.

Item 2 of the Statement is supplemented by adding the following reporting persons:

Warren A. Stephens Trust UID 9/30/87 is an Arkansas trust. Its principal business is holding investments. Its sole trustee is Warren A. Stephens. Its principal address is 111 Center St., Little Rock, AR 72201. During the last five years, neither Warren A. Stephens Trust, nor its trustee, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is 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.

ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.

Item 3 of the Statement is supplemented by adding the following:

CUSIP No. 208242107

407,872 of the shares owned by Warren A. Stephens Trust were received from WAS Family Trust Five UID 1/28/2020 in a transfer for no consideration. 23,674 of the shares owned by Warren A. Stephens Trust were received from WAS Family Trust Three in a transfer for no consideration.

ITEM 4. PURPOSE OF TRANSACTION.

Item 4 of the Statement is supplemented by adding the following:

The transfer of shares to Warren A. Stephens Trust was done for estate planning purposes. None of the reporting persons have any plans or proposals which relate to or would result in any of the actions set forth in subsections (a) through (j) of Item 4.

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER

Items 5(a) and 5(b) of the Statement are amended and restated to read in their entirety as follows:

(a, b) The following table discloses the beneficial ownership of the Common Stock by the reporting persons and their respective directors and control persons. Because of interrelationships among the various reporting persons, certain shares of the Common Stock may be reported as being beneficially owned by more than one person. The aggregate number of shares owned by such persons is 5,927,190, representing approximately 20.3% of the outstanding Common Stock.

Name	Number of Shares Beneficially Owned		Percent of Outstanding Shares(1)		Voting Power				Dispositive Power
					Sole		Shared		Sole		Shared
Stephens Investments Holdings LLC		640,516		2.2		640,516		0		640,516		0
Stephens Inc.(2)		171,111		0.6		82,430		88,681		82,430		88,681
Harriet C. Stephens Trust		342,081		1.2		342,081		0		342,081		0
Curtis F. Bradbury, Jr.(3)		234,972		0.8		234,972		0		234,972		0
Douglas H. Martin(4)		213,556		0.7		207,256		6,300		207,256		6,300
Warren A. Stephens(5)		5,478,662		18.8		1,439,492		4,039,170		1,439,492		4,039,170
Harriet C. Stephens(6)		2,336,624		8.0		0		2,336,624		0		2,336,624
Harriet and Warren Stephens Family Foundation		11,000		0.0		11,000		0		11,000		0
Miles A. Stephens WAS Grantor Trust		128,450		0.4		128,450		0		128,450		0
John C. Stephens WAS Grantor Trust		128,450		0.4		128,450		0		128,450		0
Laura W. Stephens WAS Grantor Trust		128,450		0.4		128,450		0		128,450		0
Paula W. & John P. Calhoun Family Trust - WMAS		113,734		0.4		113,734		0		113,734		0
Paula W. & John P. Calhoun Family Trust - JCS		113,734		0.4		113,734		0		113,734		0
Paula W. & John P. Calhoun Family Trust - LWS		113,734		0.4		113,734		0		113,734		0

CUSIP No. 208242107

Name	Number of Shares Beneficially Owned		Percent of Outstanding Shares(1)		Voting Power				Dispositive Power
					Sole		Shared		Sole		Shared
Warren Miles Amerine Stephens(7)		911,689		3.1		0		911,689		0		911,689
John Calhoun Stephens(8)		911,688		3.1		0		911,688		0		911,688
Laura Whitaker Stephens(9)		601,342		2.1		0		601,342		0		601,342
Warren Miles Amerine Stephens Family Trust One		143,333		0.5		143,333		0		143,333		0
John Calhoun Stephens Family Trust One		143,333		0.5		143,333		0		143,333		0
Laura Whitaker Stephens Family Trust One		143,334		0.5		143,334		0		143,334		0
WAS Family Trust Five		1,092,128		3.7		1,092,128		0		1,092,128		0
Warren A. Stephens Trust		431,546		1.5		431,546		0		431,546		0

(1) Based on 29,203,187 shares of the Common Stock reported by the Issuer as outstanding as of December 1, 2020, as set forth in the Form 10Q filed by the issuer on December 8, 2020.

(2) Includes 82,430 shares owned directly, as to which Stephens Inc. has sole voting power and sole dispositive power, and 88,681 shares held in discretionary trading accounts on behalf of Stephens Inc. clients as to which the firm may be deemed to have shared voting power and shared dispositive power.

(3) Shares owned indirectly through Bradbury Holdings LLLP, a limited liability limited partnership owned by reporting person.

(4) Includes 32,482 shares owned by Martin Family 2016 Trust UID 6-14-2016, and 119,897 shares owned by Douglas H. Martin Trust UID 4-18-2014, as to which Mr. Martin, as sole Trustee of the trusts, has sole voting power and sole dispositive power. Also includes 800 shares owned by Douglas Martin Custodian for Haven Celeste Martin as to which Mr. Martin has sole voting power and sole dispositive power, and 1,600 shares owned by Mr. Martin’s children as to which Mr. Martin has shared voting and dispositive power pursuant to powers of attorney. Also includes 54,077 shares owned through a Roth IRA account as to which Mr. Martin has sole voting and dispositive power. Also includes 3,100 shares owned by Mr. Martin’s spouse as custodian for Mr. Martin’s child, as to which Mr. Martin may be deemed to have shared voting and dispositive power. Also includes 1,600 shares owned by a charitable foundation of which Mr. Martin is a co-trustee, as to which Mr. Martin has shared voting and dispositive power.

(5) Includes 640,516 shares owned by Stephens Investments Holdings LLC as to which Mr. Stephens, as Manager of the LLC, may be deemed to have sole voting power and sole dispositive power. Also includes 82,430 shares owned by Stephens Inc. as to which Mr. Stephens, as President of Stephens Inc., may be deemed to have sole voting power and sole dispositive power, and 88,681 shares held in discretionary trading accounts on behalf of clients of Stephens Inc. as to which Mr. Stephens, as President of Stephens Inc., may be deemed to have shared voting power and shared dispositive power. Also includes 285,000 shares owned by Warren A. Stephens Roth IRA. Also includes 342,081 shares owned by Harriet C. Stephens Trust, 143,333 shares owned by each of Warren Miles

CUSIP No. 208242107

Amerine Stephens Family Trust One and John Calhoun Stephens Family Trust One, 143,334 shares owned by Laura Whitaker Stephens Family Trust One, 22,619 shares owned by Warren Miles Amerine Stephens 2012 Trust, 1,092,128 shares owned by WAS Family Trust Five, and 128,450 shares owned by Laura W. Stephens WAS Grantor Trust, as to which Harriet C. Stephens is Trustee of the trusts and as to which Mr. Stephens may be deemed to have shared voting and dispositive power with Ms. Stephens. Also includes 310,346 shares owned by Laura Whitaker Stephens WHCT Trust, Harriet C. Stephens, Co-Trustee, as to which Mr. Stephens may be deemed to have shared voting and dispositive power with Ms. Stephens. Also includes 131,691 shares owned by Warren Miles Amerine Stephens Revocable Trust, 310,346 shares owned by Miles Stephens WHCT Trust, and 128,450 shares owned by Miles A. Stephens WAS Grantor Trust, as to which Warren Miles Amerine Stephens is Trustee and as to which Warren Stephens may be deemed to have shared voting and dispositive power with Warren Miles Amerine Stephens. Also includes 131,690 shares owned by John Calhoun Stephens Revocable Trust, 310,346 shares owned by John Calhoun Stephens WHCT Trust, and 128,450 shares owned by John C. Stephens WAS Grantor Trust, as to which John C. Stephens is Trustee and as to which Warren Stephens may be deemed to have shared voting and dispositive power with John C. Stephens. Also includes 131,690 shares owned by Laura Whitaker Stephens Revocable Trust as to which Laura Whitaker Stephens is Trustee and as to which Warren Stephens may be deemed to have shared voting and dispositive power with Laura Whitaker Stephens. Also includes 113,744 shares owned by each of Paula W. & John P. Calhoun Family Trust – WMAS, Paula W. & John P. Calhoun Family Trust – JCS, and Paula W. & John P. Calhoun Family Trust – LWS, as to which Warren Miles Amerine Stephens, John Calhoun Stephens, and Laura Whitaker Stephens are co-trustees and as to which Warren Stephens may be deemed to have shared voting and dispositive power with the co-trustees. Also includes 11,000 shares owned by Harriet and Warren Stephens Family Foundation as to which Mr. Stephens, as co-trustee, may be deemed to have shared voting power and shared dispositive power with Ms. Stephens. Also includes 431,546 shares owned by Warren A. Stephens Trust UID 9/30/87 for which Mr. Stephens is sole trustee.

(6) Includes 342,081 shares owned by Harriet C. Stephens Trust, 143,333 shares owned by each of Warren Miles Amerine Stephens Family Trust One and John Calhoun Stephens Family Trust One, 143,334 shares owned by Laura Whitaker Stephens Family Trust One, 22,619 shares owned by Warren Miles Amerine Stephens 2012 Trust, 128,450 shares owned by Laura W. Stephens WAS Grantor Trust, and 1,092,128 shares owned by WAS Family Trust Five, for which Harriet C. Stephens is Trustee and as to which Ms. Stephens may be deemed to have shared voting and dispositive power with Warren Stephens. Also includes 11,000 shares owned by Harriet and Warren Stephens Family Foundation for which Ms. Stephens, as co-trustee, may be deemed to have shared voting power and shared dispositive power with Mr. Stephens. Also includes 310,346 shares owned by Laura Whitaker Stephens WHCT Trust for which Ms. Stephens is co-trustee and as to which Ms. Stephens has shared voting and dispositive power.

(7) Includes 131,691 shares owned by Warren Miles Amerine Stephens Revocable Trust, 310,346 shares owned by Miles Stephens WHCT Trust, and 128,450 shares owned by Miles A. Stephens WAS Grantor Trust, for which Warren Miles Amerine Stephens serves as sole trustee and as to which he may be deemed to have shared voting and dispositive power with Warren Stephens. Also includes 113,734 shares owned by each of Paula W. & John P. Calhoun Family Trust – WMAS, Paula W. & John P. Calhoun Family Trust – JCS, and Paula W. & John P. Calhoun Family Trust – LWS for which Warren Miles Amerine Stephens, John Calhoun Stephens, and Laura Whitaker Stephens serve as co-trustees and as to which Warren Miles Amerine Stephens has shared voting and dispositive power.

(8) Includes 131,690 shares owned by John Calhoun Stephens Revocable Trust, 310,346 shares owned by John Calhoun Stephens WHCT Trust, and 128,450 shares owned by John C. Stephens WAS Grantor Trust, for which John Calhoun Amerine Stephens serves as sole trustee and as to

CUSIP No. 208242107

which he may be deemed to have shared voting and dispositive power with Warren Stephens. Also includes 113,734 shares owned by each of Paula W. & John P. Calhoun Family Trust – WMAS, Paula W. & John P. Calhoun Family Trust – JCS, and Paula W. & John P. Calhoun Family Trust – LWS for which Warren Miles Amerine Stephens, John Calhoun Stephens, and Laura Whitaker Stephens serve as co-trustees and as to which John Calhoun Stephens has shared voting and dispositive power.

(9) Includes 131,690 shares owned by Laura Whitaker Stephens Revocable Trust for which Laura Whitaker Stephens serves as sole trustee and as to which she may be deemed to have shared voting and dispositive power with Warren Stephens. Also includes 113,734 shares owned by each of Paula W. & John P. Calhoun Family Trust – WMAS, Paula W. & John P. Calhoun Family Trust – JCS, and Paula W. & John P. Calhoun Family Trust – LWS for which Warren Miles Amerine Stephens, John Calhoun Stephens, and Laura Whitaker Stephens serve as co-trustees and as to which Laura Whitaker Stephens has shared voting and dispositive power. Also includes 128,450 shares owned by Laura W. Stephens WAS Grantor Trust for which Harriet C. Stephens and John N. Calhoun serve as co-trustees and as to which Laura Whitaker Stephens may be deemed to have shared voting and dispositive power.

Item 5(c) of the Statement is supplemented by adding the following: The following transaction in the Common Stock has occurred since the filing of the most recent amendment to the Statement:

On January 28, 2021, WAS Family Trust Five transferred, for no consideration, 407,872 shares of the Common Stock to Warren A. Stephens Trust UID 9/30/87.

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.

Agreement to File Joint Schedule 13D

Power of Attorney for Warren A. Stephens Trust

CUSIP No. 208242107

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.

January 8, 2021    

Date

/s/ Todd Ferguson

Todd Ferguson, as attorney in fact for Stephens Investments Holdings LLC, Stephens Inc., Harriet C. Stephens Trust, Curtis F. Bradbury, Jr., Douglas H. Martin, Warren A. Stephens, Harriet C. Stephens, Harriet and Warren Stephens Family Foundation, Miles A. Stephens WAS Grantor Trust, John C. Stephens WAS Grantor Trust, Laura W. Stephens WAS Grantor Trust, Paula W. & John P. Calhoun Family Trust – WMAS, Paula W. & John P. Calhoun Family Trust – JCS, Paula W. & John P. Calhoun Family Trust – LWS, Warren Miles Amerine Stephens, John Calhoun Stephens, Laura Whitaker Stephens, Warren Miles Amerine Stephens Family Trust One, John Calhoun Stephens Family Trust One, Laura Whitaker Stephens Family Trust One, WAS Family Trust Five, and Warren A. Stephens Trust