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 Shares
What Happened
Silver Lake Technology Investors V, L.P. (a Silver Lake affiliate and reported 10% owner) converted Class B shares into Class C shares and sold shares of Dell Technologies (DELL) in multiple open‑market transactions on July 8, 2026. The filing shows approximately 635 shares sold across many tranches at prices ranging roughly from $419.54 to $438.28 per share, producing total proceeds of about $271,229. The filing also records conversion/exercise entries for 637 shares (derivative conversion of Class B to Class C) made in connection with the sales.
Key Details
- Date of transactions: July 8, 2026. Sales executed in multiple tranches throughout that day.
- Sale quantity and proceeds: ~635 shares sold for aggregate proceeds ≈ $271,229. Individual tranche prices reported per share between ~$419.54 and ~$438.28; the filing lists weighted average prices for each tranche.
- Derivative activity: 637 shares recorded as exercised/converted (code M) — Class B → Class C conversion tied to the sales (see footnote F2).
- Ownership after transactions: post‑transaction holdings for related Silver Lake entities are reported in related Form 4s (see filing footnotes); this filing is by an affiliated 10% owner, not an individual executive.
- Filing notes: multiple affiliates participated; weighted‑average prices and per‑range details are provided in footnotes. The filers disclaim beneficial ownership except to the extent of pecuniary interest (standard joint filing language).
Context
- This was an institutional sale by a large shareholder/affiliate (Silver Lake) rather than an individual insider trade; such transactions often reflect portfolio rebalancing or liquidity needs rather than a direct signal about company fundamentals.
- The conversion of Class B into Class C shares and near‑immediate sale (conversion noted in footnote F2) is a common structural step when holders transfer or sell convertible classes — effectively the affiliate converted voting/Class B stock to tradable Class C stock for sale.
- Transaction codes: S = sale (open market); M = exercise/conversion of derivative (Class B → Class C).
If you want, I can break down the tranche‑level weighted average prices shown in the footnotes or locate the related Form 4s for the other Silver Lake affiliates to see their post‑transaction holdings.
Insider Transaction Report
Form 4
Silver Lake Technology Investors V, L.P.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F4]2026-07-08+637→ 637 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F10][F3][F4]2026-07-08$420.21/sh−46$19,330→ 591 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F11][F3][F4]2026-07-08$420.99/sh−105$44,204→ 486 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F12][F3][F4]2026-07-08$421.96/sh−49$20,676→ 437 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F13][F3][F4]2026-07-08$422.96/sh−27$11,420→ 410 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F14][F3][F4]2026-07-08$424.05/sh−34$14,418→ 376 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F15][F3][F4]2026-07-08$425.11/sh−30$12,753→ 345 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F16][F3][F4]2026-07-08$426.14/sh−13$5,540→ 333 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F17][F3][F4]2026-07-08$427.19/sh−13$5,553→ 320 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F18][F3][F4]2026-07-08$428.20/sh−37$15,843→ 283 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F19][F3][F4]2026-07-08$429.16/sh−35$15,021→ 248 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F20][F3][F4]2026-07-08$430.23/sh−36$15,488→ 212 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F21][F3][F4]2026-07-08$431.15/sh−53$22,851→ 158 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F22][F3][F4]2026-07-08$432.29/sh−51$22,047→ 107 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F23][F3][F4]2026-07-08$433.20/sh−40$17,328→ 67 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F24][F3][F4]2026-07-08$434.18/sh−17$7,381→ 50 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F25][F3][F4]2026-07-08$435.23/sh−15$6,528→ 35 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F26][F3][F4]2026-07-08$436.33/sh−19$8,290→ 16 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F27][F3][F4]2026-07-08$437.13/sh−14$6,120→ 1 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Sale
Class C Common Stock
[F28][F3][F4]2026-07-08$438.00/sh−1$438→ 0 total(indirect: Held through Silver Lake Technology Investors V, L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F4]2026-07-08−637→ 114,727 total(indirect: Held through Silver Lake Technology Investors V, L.P.)→ Class C Common Stock (637 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] - 136,583(indirect: See footnote)
Class C Common Stock
[F29] - 43,750,084(indirect: See footnote)
Class B Common Stock
[F2][F30]→ Class C Common Stock (43,750,084 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 IV, L.P. directly holds 46,192 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 29,840 shares of Class C Common Stock, and Silver Lake Technology Investors IV, 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 Technology Investors V, L.P. The general partner of Silver Lake Technology Investors V, L.P. is Silver Lake Technology Associates V, L.P. and the general partner of Silver Lake Technology Associates V, L.P. is SLTA V (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 IV, L.P., directly holds 17,291,507 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, and Silver Lake Technology Investors IV, L.P. directly holds 254,415 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 V (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.