diff --git a/CHANGELOG.md b/CHANGELOG.md
index 867700f..e522034 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,10 @@
 ## CHANGELOG
 
+### `v1.40.1`
+
+#### Fixes
+* Fix a bug from bandit missing conn [#548](https://github.com/newrelic/elixir_agent/pull/548)
+
 ### `v1.40.0`
 
 #### Features
diff --git a/VERSION b/VERSION
index 32b7211..53a714f 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-1.40.0
+1.40.1