Amendment No. 1 dated March 7, 2018 to Promissory Note, dated February 2, 2018, by and among Stein Mart, Inc. as borrower and Sun Trust Bank, as Trustee

EXHIBIT 10.40

Amendment to Promissory Note

Stein Mart, Inc. (“Borrower”)

SunTrust (“Lender”)

This Amendment to the Promissory Note (“Note”) dated February 2, 2018 in the principle amount of $13,738,318.06 by and between STEIN MART, INC. (“Borrower”) and SUNTRUST, as trustee (“Lender”) is entered into this 7^th day of March, 2018.

In consideration of their mutual undertakings, Borrower has requested and Lender has agreed to extend the payment due date on the Note to July 1, 2018.

Accordingly, the Note is hereby modified, and Borrower agrees to repay the principal amount with interest as stated in the Note by July 1, 2018.

Signed Under Penalty of Perjury, this 7^th day of March, 2018.

Signed in the presence of:

SunTrust, as Trustee u/t/a dated September 1, 1999 by and between Suntrust, Central Florida, N.A. or its successor in interest, and Borrower: