Silver Lake Group, L.L.C. 4

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.