SLTA V (GP), L.L.C. 4

What Happened

• SLTA V (GP), L.L.C., a Silver Lake-related 10% owner of Dell Technologies (DELL), recorded large transactions March 4–6, 2026. The entity exercised/converted a total of 697,553 shares (conversion of Class B to Class C per the filing) on March 4 and sold approximately 514,417 shares in open-market trades for aggregate proceeds of about $75.5 million.
• The filing also shows other dispositions (labeled “J”) on March 5 totaling 371,482 shares (values not reported in the Form 4), which the footnotes describe as part of in‑kind distributions of Class C shares. Several of the receipt/distribution items were exempt from reporting under Rule 16a‑13.

Key Details

• Transaction dates: March 4–6, 2026.
• Open-market sale prices: weighted-average sales produced proceeds ≈ $75.5M; reported price ranges per footnotes: roughly $146.48–$147.67 (multiple transactions). Some later small sales on Mar 6 at $146.75.
• Derivative activity: Code M entries show conversion/exercise (Class B → Class C) of 697,553 shares on Mar 4; matching derivative disposals reported at $0 reflect conversion mechanics.
• Other dispositions: 168,047 + 124,213 + 79,222 = 371,482 shares shown as “Other” on Mar 5 (in‑kind distributions; amounts exempt from reporting).
• Shares owned after transaction: the Form 4 does not list a simple post-transaction total for SLTA V (GP); footnotes describe related holdings and exempt distributions (see footnotes F1–F3, F11–F13).
• Notable footnotes: Rule 16a‑13 exemptions for in‑kind distributions (F1, F11–F13); conversion of Class B to Class C (F2); price ranges and weighted averages (F14, F15); relationship to Silver Lake and Egon Durban noted (F9).
• Filing timeliness: filed March 6, 2026 for transactions through March 4–6 — no late-filing flag indicated.

Context

• These transactions involve a 10% institutional owner and related Silver Lake entities, not a straightforward executive open‑market trade; some shares were distributed in‑kind and exempt from immediate reporting. The conversion of Class B to Class C shares (derivative code M) followed by sales is essentially a conversion plus sale rather than a cash purchase. As always, these filings are factual records of transactions and do not by themselves indicate the motivations behind the trades.