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

What Happened

• SLTA V (GP), L.L.C., reported exercising/converting derivatives to acquire 325,204 shares of Dell Class C common stock on March 17, 2026, and conducted open‑market sales of approximately 237,431 shares the same day for total proceeds of about $36.66 million. The sales were executed at weighted‑average prices in the $153.01–$155.01 range (see footnotes for exact price ranges).
• These transactions primarily reflect conversions/exercises (transaction code M) followed by open‑market disposals (code S). Net from the conversions and sales, the reporting entity retained roughly 87,773 shares from the conversions (325,204 acquired − 237,431 sold), unless other filings show additional transfers.

Key Details

• Transaction date: March 17, 2026. Open‑market sale proceeds ≈ $36,659,820.
• Prices: weighted average prices reported; sales executed across ranges of ~$153.01–$155.01 per share (footnotes F14–F16 provide per‑trade ranges).
• Shares acquired via exercise/conversion: 325,204. Shares sold in open market: 237,431. Approximate net retained from these conversions: 87,773 shares.
• Notable footnotes: these transactions and related conversions/distributions involve Silver Lake affiliates; some shares were distributed in‑kind and exempt from reporting under Rule 16a‑13 (see F1–F3, F8–F13). The filing is part of a coordinated set of Forms 4 for related entities.
• Filing timeliness: Form 4 filed March 19, 2026 reporting transactions dated March 17, 2026 (appears timely under Section 16 reporting rules).

Context

• Derivative explanation: the filings show conversions/exercises of Class B/common equity into Class C shares (code M). The zero‑dollar derivative "disposals" reflect the administrative conversion/cancellation of the derivative interest; many of the converted shares were then sold in the market the same day (a cashless or immediate disposition pattern).
• Investor note: this is activity by a 10% institutional owner/affiliate (Silver Lake group), not necessarily an individual executive—such institutional conversions and block sales can be part of fund reorganization or distributions and may be exempt or coordinated across related entities.