Silver Lake Group, L.L.C. 4
4 · Dell Technologies Inc. · Filed Jul 10, 2026
Research Summary
AI-generated summary of this filing
Dell (DELL) 10% Owner Silver Lake Sells 72,854 Shares
What Happened
- Silver Lake Partners IV, L.P. (a 10% holder / Silver Lake affiliate) converted/exercised 95,960 shares (Class B → Class C) and sold 72,854 of those Class C shares in multiple open‑market trades on July 8, 2026. The sales generated total proceeds of approximately $31.12 million. The conversion/exercise is reported as derivative activity (code M); the sales are reported as open‑market sales (code S).
Key Details
- Transaction date: July 8, 2026; Form 4 filed July 10, 2026 (timely filing).
- Shares sold: 72,854 shares in multiple tranches; aggregate proceeds ≈ $31,119,939.
- Conversion/exercise: 95,960 shares converted/exercised (reported as derivative activity, $0 cash proceeds for the conversion step).
- Price range: individual trades ranged roughly from $419.54 to $438.28 per share (footnotes give weighted‑average prices and specific price ranges for each block).
- Shares owned after transaction: not specified for Silver Lake Partners IV in this Form 4; related Silver Lake affiliates’ holdings and additional transactions are reported on separate Form 4 filings (see footnotes).
- Notable footnotes: F2 confirms Class B → Class C conversion in connection with the sales; multiple footnotes (F10–F28) provide the price ranges and note weighted averages; filing covers transactions by several Silver Lake entities (F1, F29, F30).
Context
- This is institutional selling by a 10% owner (Silver Lake affiliate), not an individual executive—such sales often reflect portfolio or structural decisions rather than a CEO/CFO signal. The derivative entry indicates conversion of Class B shares into Class C shares prior to or in connection with the open‑market sales (effectively a conversion + sale rather than a cash exercise). The filing appears timely under Section 16 reporting rules.
Insider Transaction Report
Form 4
Silver Lake Partners IV, L.P.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F4]2026-07-08+95,960→ 119,044 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F10][F3][F4]2026-07-08$420.21/sh−5,277$2,217,448→ 113,767 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F11][F3][F4]2026-07-08$420.99/sh−11,967$5,037,987→ 101,800 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F12][F3][F4]2026-07-08$421.96/sh−5,584$2,356,225→ 96,216 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F13][F3][F4]2026-07-08$422.96/sh−3,096$1,309,484→ 93,121 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F14][F3][F4]2026-07-08$424.05/sh−3,942$1,671,605→ 89,179 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F15][F3][F4]2026-07-08$425.11/sh−3,476$1,477,682→ 85,703 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F16][F3][F4]2026-07-08$426.14/sh−1,435$611,511→ 84,268 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F17][F3][F4]2026-07-08$427.19/sh−1,522$650,183→ 82,747 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F18][F3][F4]2026-07-08$428.20/sh−4,183$1,791,161→ 78,563 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F19][F3][F4]2026-07-08$429.16/sh−4,015$1,723,077→ 74,548 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F20][F3][F4]2026-07-08$430.23/sh−4,125$1,774,699→ 70,423 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F21][F3][F4]2026-07-08$431.15/sh−6,115$2,636,482→ 64,308 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F22][F3][F4]2026-07-08$432.29/sh−5,864$2,534,949→ 58,444 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F23][F3][F4]2026-07-08$433.20/sh−4,629$2,005,283→ 53,815 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F24][F3][F4]2026-07-08$434.18/sh−1,935$840,138→ 51,880 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F25][F3][F4]2026-07-08$435.23/sh−1,669$726,399→ 50,212 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F26][F3][F4]2026-07-08$436.33/sh−2,227$971,707→ 47,985 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F27][F3][F4]2026-07-08$437.13/sh−1,626$710,773→ 46,359 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F28][F3][F4]2026-07-08$438.00/sh−167$73,146→ 46,192 total(indirect: Held through Silver Lake Partners IV, L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F4]2026-07-08−95,960→ 17,291,507 total(indirect: Held through Silver Lake Partners IV, L.P.)→ Class C Common Stock (95,960 underlying)
Holdings
- 150,338(indirect: See footnotes)
Class C Common Stock
[F5][F6][F7] - 1,374,245
Class C Common Stock
[F8] - 49,237(indirect: See footnote)
Class C Common Stock
[F9] - 90,391(indirect: See footnote)
Class C Common Stock
[F29] - 26,573,304(indirect: See footnote)
Class B Common Stock
[F2][F30]→ Class C Common Stock (26,573,304 underlying)
Footnotes (30)
- [F1]Silver Lake Technology Investors V, L.P., SL SPV-2, L.P., Silver Lake Partners IV, L.P., Silver Lake Partners V DE (AIV), L.P., Silver Lake Technology Investors IV, L.P. 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 July 8, 2026.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $419.5400 to $420.5300 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.
- [F11]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $420.5400 to $421.5100 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.
- [F12]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $421.5400 to $422.5302 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.
- [F13]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $422.5400 to $423.5200 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 $423.5679 to $424.5340 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 $424.5904 to $425.5890 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 $425.5900 to $426.5840 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.
- [F17]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $426.6523 to $427.6200 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.
- [F18]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $427.7000 to $428.6900 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.
- [F19]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $428.7000 to $429.6900 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 July 8, 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 described in footnote (1) above.
- [F20]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $429.7000 to $430.6700 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.
- [F21]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $430.7000 to $431.6900 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.
- [F22]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $431.7167 to $432.7000 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.
- [F23]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $432.7133 to $433.6700 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.
- [F24]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $433.7300 to $434.7268 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.
- [F25]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $434.7400 to $435.7349 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.
- [F26]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $435.7604 to $436.7300 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.
- [F27]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $436.7978 to $437.5863 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.
- [F28]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $437.8600 to $438.2800 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.
- [F29]Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 60,551 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 29,840 shares of Class C Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 0 shares of Class C Common Stock, and Silver Lake Technology Investors V, L.P. directly holds 0 shares of Class C Common Stock, which securities and transactions are reported on separate Form 4 filings.
- [F3]These securities are directly held by Silver Lake Partners IV, L.P. The general partner of Silver Lake Partners IV, L.P. is Silver Lake Technology Associates IV, L.P. and the general partner of Silver Lake Technology Associates IV, L.P. is SLTA IV (GP), L.L.C.
- [F30]Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,844,290 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,359,872 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 254,415 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 114,727 shares of Class B Common Stock, which securities and transactions are reported on separate Form 4 filings.
- [F4]Silver Lake Group, L.L.C. ("SLG") is the managing member of SLTA IV (GP), L.L.C. 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.
- [F5]RESERVED
- [F6]RESERVED
- [F7]This amount reflects 29,494, 11,109, 28,109, 81,500 and 126 shares held by SLTA SPV-2, L.P., Silver Lake Technology Associates IV, L.P., Silver Lake Technology Associates V, L.P., SLG and Silver Lake Secondary Holdings L.P., respectively, on behalf of certain employees and managing members of SLG or its affiliates.
- [F8]Represents shares of Class C Common Stock held directly by Mr. Durban.
- [F9]Represents shares of Class C Common Stock beneficially owned indirectly by Mr. Durban through a trust for the benefit of certain family members.