SLTA V (GP), L.L.C. 4
4 · Dell Technologies Inc. · Filed Apr 17, 2026
Research Summary
AI-generated summary of this filing
Dell (DELL) 10% Owner SLTA V (GP) Sells ~$81.3M of Shares
What Happened
- SLTA V (GP), a reporting 10% owner affiliated with Silver Lake, converted/exercised a total of 630,047 shares (derivative/convertible Class B → Class C) on April 15, 2026 and sold 458,666 Class C shares in multiple open‑market transactions that day for total proceeds of approximately $81,293,379. Sales were executed at several weighted‑average prices reported in the filing (notably $176.58, $178.44, $179.43 and $180.16 per share); the full trade price range was roughly $176.30 to $180.8671 per share (see footnotes F13–F16).
- The filing also shows matching “derivative” disposition lines at $0 for the converted amounts, reflecting conversion/transfer activity rather than additional cash proceeds.
Key Details
- Transaction date: April 15, 2026 (Form 4 filed April 17, 2026 — timely filing).
- Conversion/exercise (code M): 630,047 shares converted from Class B to Class C.
- Open‑market sales (code S): 458,666 shares sold for total proceeds ≈ $81.3M.
- Price detail: multiple trades with weighted averages of $176.58 / $178.44 / $179.43 / $180.16; overall trade prices ranged ≈ $176.30–$180.8671 (F13–F16).
- Shares remaining: the converted amount minus shares sold equals 171,381 shares; however, the filing and footnotes indicate some shares were distributed internally or exempt under Rule 16a‑13, so exact retained beneficial ownership for SLTA V (GP) after the transactions is not fully specified in the table.
- Notable footnotes: conversions and certain distributions of Class C stock on April 15–16 were exempt from reporting under Rule 16a‑13 (F1, F2, F11–F12). The reporting persons are Silver Lake affiliates; Egon Durban (a Dell director) is a managing member of Silver Lake Group (F8, F10).
Context
- These transactions reflect activity by a 10% institutional owner and affiliated entities of Silver Lake, not a typical single‑executive purchase or sale. Footnotes note pro rata in‑kind distributions on April 16 (exempt from reporting), and some converted shares appear to have been distributed to other affiliates/individuals rather than all being sold on the open market.
- For retail investors: purchases are generally viewed as stronger signals of insider conviction; this filing documents conversions and significant open‑market selling by an affiliate and related distributions, not a single officer buying stock.
Insider Transaction Report
Form 4
SLTA V (GP), L.L.C.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F8]2026-04-15+241,941→ 241,941 total(indirect: Held through SL SPV-2, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F4][F8]2026-04-15+248,365→ 248,365 total(indirect: Held through Silver Lake Partners IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F5][F8]2026-04-15+134,439→ 134,439 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F6][F8]2026-04-15+3,654→ 3,654 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F7][F8]2026-04-15+1,648→ 1,648 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F13][F3][F8]2026-04-15$176.58/sh−126,677$22,368,625→ 115,264 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F13][F4][F8]2026-04-15$176.58/sh−144,741$25,558,366→ 103,624 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F13][F5][F8]2026-04-15$176.58/sh−74,536$13,161,567→ 59,903 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F13][F6][F8]2026-04-15$176.58/sh−2,788$492,305→ 866 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F13][F7][F8]2026-04-15$176.58/sh−1,258$222,138→ 390 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F14][F3][F8]2026-04-15$178.44/sh−5,898$1,052,439→ 109,366 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F14][F4][F8]2026-04-15$178.44/sh−6,740$1,202,686→ 96,884 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F14][F5][F8]2026-04-15$178.44/sh−3,471$619,365→ 56,432 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F14][F6][F8]2026-04-15$178.44/sh−130$23,197→ 736 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F14][F7][F8]2026-04-15$178.44/sh−59$10,528→ 332 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F15][F3][F8]2026-04-15$179.43/sh−29,181$5,235,947→ 80,185 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F15][F4][F8]2026-04-15$179.43/sh−33,342$5,982,555→ 63,542 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F15][F5][F8]2026-04-15$179.43/sh−17,170$3,080,813→ 39,263 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F15][F6][F8]2026-04-15$179.43/sh−642$115,194→ 94 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F15][F7][F8]2026-04-15$179.43/sh−290$52,035→ 42 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F16][F3][F8]2026-04-15$180.16/sh−4,250$765,680→ 75,935 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F16][F4][F8]2026-04-15$180.16/sh−4,856$874,857→ 58,686 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F16][F5][F8]2026-04-15$180.16/sh−2,501$450,580→ 36,762 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F16][F6][F8]2026-04-15$180.16/sh−94$16,935→ 0 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F16][F7][F8]2026-04-15$180.16/sh−42$7,567→ 0 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F8]2026-04-15−241,941→ 18,549,806 total(indirect: Held through SL SPV-2, L.P.)→ Class C Common Stock (241,941 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F4][F8]2026-04-15−248,365→ 19,042,305 total(indirect: Held through Silver Lake Partners IV, L.P.)→ Class C Common Stock (248,365 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F5][F8]2026-04-15−134,439→ 10,307,577 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.)→ Class C Common Stock (134,439 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F6][F8]2026-04-15−3,654→ 280,176 total(indirect: Held through Silver Lake Technology Investors IV, L.P.)→ Class C Common Stock (3,654 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F7][F8]2026-04-15−1,648→ 126,343 total(indirect: Held through Silver Lake Technology Investors V, L.P.)→ Class C Common Stock (1,648 underlying)
Holdings
- 4,891(indirect: Held through Silver Lake Group, L.L.C.)
Class C Common Stock
[F8][F9] - 4,277(indirect: See footnote)
Class C Common Stock
[F10] - 129,705(indirect: See footnote)
Class C Common Stock
[F11] - 1,313,489
Class C Common Stock
[F12]
Footnotes (16)
- [F1]SL SPV-2, L.P. ("SPV-2"), Silver Lake Partners IV, L.P. ("SLP IV"), Silver Lake Partners V DE (AIV), L.P. ("SLP V") and certain of their respective affiliates sold certain shares of Class C Common Stock, par value $0.01 per share ("Class C Common Stock") of Dell Technologies Inc. (the "Issuer") on April 15, 2026 and April 16, 2026 and initiated in-kind distributions of shares of Class C Common Stock on April 16, 2026. The receipt of shares of Class C Common Stock by each of the Reporting Persons in connection with such distributions was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
- [F10]These shares of Common Stock are held by entities in which Mr. Durban may be deemed to have an indirect pecuniary interest including shares received in connection with the distributions of shares of Class C Common Stock on April 16, 2026. The receipt of such shares of Class C Common Stock indirectly by Mr. Durban was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
- [F11]In connection with the distributions described in footnote (1) above, pro rata distributions of certain shares were initiated to certain employees and managing members of SLG or its affiliates, including Mr. Durban. This amount reflects 24,563, 14,785 and 90,357 shares held by SLTA SPV, SLTA V and SLG, respectively, on behalf of such individuals, including shares distributed in the April 16, 2026 distributions. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
- [F12]Represents shares of Class C Common Stock held by Mr. Durban immediately following the receipt of shares in connection with the distributions of shares of Class C Common Stock on April 16, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.
- [F13]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $176.30 to $177.28 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F14]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $178.00 to $178.9969 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F15]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $179.0004 to $180.00 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F16]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $180.0005 to $180.8671 per share, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]Each share of Class B Common Stock, par value $0.01 per share of the Issuer (the "Class B Common Stock") is convertible into one share of Class C Common Stock at any time, at the election of the holder or automatically upon certain transfers, and has no expiration date. On April 15, 2026 and April 16, 2026, certain of the Reporting Persons converted shares of Class B Common Stock into an equal number of shares of Class C Common Stock in connection with the sales and distributions described in footnote (1) above.
- [F3]These securities are directly held by SPV-2. The general partner of SPV-2 is SLTA SPV-2, L.P. ("SLTA SPV") and the general partner of SLTA SPV is SLTA SPV-2 (GP), L.L.C. ("SLTA SPV GP").
- [F4]These securities are directly held by SLP IV. The general partner of SLP IV is Silver Lake Technology Associates IV, L.P. ("SLTA IV") and the general partner of SLTA IV is SLTA IV (GP), L.L.C. ("SLTA IV GP").
- [F5]These securities are directly held by SLP V. The general partner of SLP V is Silver Lake Technology Associates V, L.P. ("SLTA V") and the general partner of SLTA V is SLTA V (GP), L.L.C. ("SLTA V GP").
- [F6]These securities are directly held by Silver Lake Technology Investors IV, L.P. The general partner of Silver Lake Technology Investors IV, L.P. is SLTA IV and the general partner of SLTA IV is SLTA IV GP.
- [F7]These securities are directly held by Silver Lake Technology Investors V, L.P. The general partner of Silver Lake Technology Investors V, L.P. is SLTA V and the general partner of SLTA V is SLTA V GP.
- [F8]Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA SPV GP, SLTA IV GP and SLTA V GP. Egon Durban, who serves as a director of the Issuer, also serves as a Co-CEO and Managing Member of SLG. Each of the Reporting Persons may be deemed a director by deputization of the Issuer.
- [F9]Reflects shares held by SLG. Shares held includes shares of Class C Common Stock received in connection with the pro rata distributions described herein on April 16, 2026. The receipt of such shares of Class C Common Stock was exempt from reporting pursuant to Rule 16a-13 of the Exchange Act.