Dillard’s Inc.’s annual proxy statement provides details about some transactions it has with executive officers, directors and others, according to U.S. Securities & Exchange Commission rules.
In its latest proxy on April 4, the Little Rock department store chain reported that in Dillard’s fiscal 2024, Stephens Insurance LLC of Little Rock received about $1 million in commissions related to the sale of voluntary insurance products to Dillard’s workers. The commission amount is a drop from $1.4 million in 2023.
In addition, during fiscal 2024, Dillard’s paid an agency fee of $70,430 to Stephens Insurance in connection with property and casualty insurance brokerage and risk management services.
Stephens Insurance is an affiliate of independent financial services firm Stephens Inc. of Little Rock. Stephens Insurance is one of the largest privately owned insurance brokerages in the Midsouth.
Stephens Insurance is owned by Warren Stephens. He was the chairman, CEO and president of Stephens Inc., but stepped down as CEO and president in January, after being nominated to be the U.S. ambassador to the United Kingdom. He remains as chairman of Stephens Inc.
Warren Stephens has been a director of Dillard’s since 2002.
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