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) SLTA V (GP) — 10% Owner Sells Shares
What Happened
- SLTA V (GP), L.L.C. — a reported 10% owner affiliated with Silver Lake — executed multiple transactions on April 16, 2026. The filer reported exercising or converting 516,449 shares via derivatives (conversion/exercise transactions). Separately, the filer sold 375,000 shares in open-market trades at a weighted average price of $176.50 (proceeds ≈ $66.19M) and sold an additional 7,000 shares at $193.58 (proceeds ≈ $1.36M), for known cash proceeds of roughly $67.54M. The filing also shows other dispositions totaling 312,832 shares (reported as “J” other disposition) with no price listed in the table.
Key Details
- Transaction date: April 16, 2026 (filing date: April 17, 2026 — timely).
- Known open-market sales: 375,000 shares @ $176.50 (weighted avg) = $66,187,502; 7,000 shares @ $193.58 = $1,355,060. Total known cash proceeds ≈ $67,542,562.
- Derivative exercises/conversions: 516,449 shares reported as acquired via exercise/conversion (M). The same amounts are shown as disposed with $0.00 price in the filing (reflects internal conversion/distribution reporting).
- Other dispositions (J): 139,157; 106,790; and 66,885 shares (total 312,832) reported as “other” with no cash amount listed.
- Shares owned after transaction: not specified for SLTA V (GP) in the provided extract.
- Notable footnotes: conversions of Class B to Class C common stock and in-kind distributions were initiated on April 16, 2026; receipts of those distributed shares were reported as exempt under Rule 16a-13. Filings are joint among related Silver Lake entities; certain holdings and distributions relate to Silver Lake affiliates and Egon Durban (director of Dell and managing member of Silver Lake Group) per footnotes.
- Filing timeliness: appears timely (transaction date 4/16/2026, Form 4 filed 4/17/2026).
Context
- The filing combines derivative conversions (Class B → Class C) and sizable open-market sales. The derivative entries and $0.00 disposition amounts reflect internal conversions/distributions rather than separate cash transactions; the actual cash receipts come from the listed open-market sales.
- This reporting party is an institutional/affiliate 10% owner (Silver Lake-related), not an individual executive trade; many of the received shares were part of pro rata/in-kind distributions exempt from immediate Form 4 reporting under Rule 16a-13.
- For retail investors: sales reduce the reporting party’s stake but the filing reflects complex corporate/affiliate transfers and conversions in addition to ordinary open-market sales — treat these as institutional liquidity and internal reorganization activity rather than a simple insider sentiment signal.
Insider Transaction Report
Form 4
SLTA V (GP), L.L.C.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F8]2026-04-16+198,319→ 274,254 total(indirect: Held through SL SPV-2, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F4][F8]2026-04-16+203,583→ 262,269 total(indirect: Held through Silver Lake Partners IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F5][F8]2026-04-16+110,200→ 146,962 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F6][F8]2026-04-16+2,996→ 2,996 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Exercise/Conversion
Class C Common Stock
[F1][F2][F7][F8]2026-04-16+1,351→ 1,351 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F3][F8]2026-04-16$176.50/sh−135,097$23,844,621→ 139,157 total(indirect: Held through SL SPV-2, L.P.) - Sale
Class C Common Stock
[F4][F8]2026-04-16$176.50/sh−155,479$27,442,044→ 106,790 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F5][F8]2026-04-16$176.50/sh−80,077$14,133,591→ 66,885 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Sale
Class C Common Stock
[F6][F8]2026-04-16$176.50/sh−2,996$528,794→ 0 total(indirect: Held through Silver Lake Technology Investors IV, L.P.) - Sale
Class C Common Stock
[F7][F8]2026-04-16$176.50/sh−1,351$238,452→ 0 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F13][F14]2026-04-16$193.58/sh−7,000$1,355,060→ 46,753 total(indirect: See footnote) - Other
Class C Common Stock
[F1][F3][F8]2026-04-16−139,157→ 0 total(indirect: Held through SL SPV-2, L.P.) - Other
Class C Common Stock
[F1][F4][F8]2026-04-16−106,790→ 0 total(indirect: Held through Silver Lake Partners IV, L.P.) - Other
Class C Common Stock
[F1][F5][F8]2026-04-16−66,885→ 0 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F8]2026-04-16−198,319→ 18,351,487 total(indirect: Held through SL SPV-2, L.P.)→ Class C Common Stock (198,319 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F4][F8]2026-04-16−203,583→ 18,838,722 total(indirect: Held through Silver Lake Partners IV, L.P.)→ Class C Common Stock (203,583 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F5][F8]2026-04-16−110,200→ 10,197,377 total(indirect: Held through Silver Lake Partners V DE (AIV), L.P.)→ Class C Common Stock (110,200 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F6][F8]2026-04-16−2,996→ 277,180 total(indirect: Held through Silver Lake Technology Investors IV, L.P.)→ Class C Common Stock (2,996 underlying) - Exercise/Conversion
Class B Common Stock
[F2][F1][F7][F8]2026-04-16−1,351→ 124,992 total(indirect: Held through Silver Lake Technology Investors V, L.P.)→ Class C Common Stock (1,351 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 (14)
- [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 $193.46 to $193.75 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]Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members, 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.
- [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.