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Dell Technologies Inc.·4

Jul 10, 6:17 PM ET

Silver Lake Group, L.L.C. 4

4 · Dell Technologies Inc. · Filed Jul 10, 2026

Research Summary

AI-generated summary of this filing

Updated

Dell (DELL) 10% Owner SL SPV-2 Sells ~63,095 Shares

What Happened

  • SL SPV-2, L.P. (a reported 10% owner) converted/exercised 93,479 Class B shares into Class C shares and sold 63,095 Class C shares in multiple open‑market transactions on July 8, 2026. The sales generated total gross proceeds of $26,951,338 (weighted average sale price ≈ $427.16 per share). Individual sale prices reported ranged roughly from $419.54 to $438.28 per share across multiple trades.
  • This was primarily a sale (liquidity event) by an institutional/affiliated investor rather than an individual officer. The filing shows a derivative conversion/ exercise tied to the sales (reported as M = exercise/conversion).

Key Details

  • Transaction date: July 8, 2026; Form filed July 10, 2026 (appears to be timely — within the Form 4 two‑business‑day window).
  • Shares sold: 63,095 Class C shares in many trades; total proceeds $26,951,338; weighted avg ≈ $427.16/share.
  • Conversion/exercise: 93,479 shares were converted/exercised (derivative conversion of Class B to Class C) in connection with the sales (reported as M). One line shows a 93,479 share derivative disposition at $0 (reflecting the conversion reporting).
  • Price reporting: Several footnotes state reported prices are weighted averages for blocks sold at narrower ranges (see footnotes F10–F28); overall per‑share sale prices ranged from ~$419.54 to ~$438.28.
  • Shares owned after transaction: Not explicitly stated for SL SPV-2 in this filing. Related footnotes (F29/F30) list post‑transaction holdings for other Silver Lake affiliates; consult those Form 4s for affiliate totals.
  • Filing/Remarks: The parties are filing jointly under Rule 16a‑3(j). The filing disclaims beneficial ownership except to the extent of pecuniary interest.

Context

  • Institutional/affiliate sale: This filing reports activity by investment vehicles/affiliates of Silver Lake (not a typical single executive buy/sell). Sales following conversion of Class B into Class C are often administrative/liquidity transactions for investors rather than direct signals about company fundamentals.
  • Derivative note: The M code indicates conversion/exercise of derivative/convertible shares (Class B → Class C). Because converted shares were sold in the same period, this effectively resembles a cash‑out of converted shares.
  • For retail investors: Purchases are generally considered more informative about insider confidence; this report documents an institutional sale and conversion—useful for tracking insider-related supply but not necessarily a commentary on management’s view.

Insider Transaction Report

Form 4
Period: 2026-07-08
Dell Technologies Inc.DELL
SL SPV-2, L.P.
Director10% Owner
Transactions
  • Exercise/Conversion

    Class C Common Stock

    [F1][F2][F3][F4]
    2026-07-08+93,479→ 123,646 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F10][F3][F4]
    2026-07-08$420.21/sh−4,570$1,920,360→ 119,076 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F11][F3][F4]
    2026-07-08$420.99/sh−10,364$4,363,140→ 108,712 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F12][F3][F4]
    2026-07-08$421.96/sh−4,836$2,040,599→ 103,876 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F13][F3][F4]
    2026-07-08$422.96/sh−2,681$1,133,956→ 101,195 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F14][F3][F4]
    2026-07-08$424.05/sh−3,414$1,447,707→ 97,781 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F15][F3][F4]
    2026-07-08$425.11/sh−3,011$1,280,006→ 94,770 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F16][F3][F4]
    2026-07-08$426.14/sh−1,242$529,266→ 93,528 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F17][F3][F4]
    2026-07-08$427.19/sh−1,318$563,036→ 92,210 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F18][F3][F4]
    2026-07-08$428.20/sh−3,623$1,551,369→ 88,587 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F19][F3][F4]
    2026-07-08$429.16/sh−3,477$1,492,189→ 85,109 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F20][F3][F4]
    2026-07-08$430.23/sh−3,573$1,537,212→ 81,537 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F21][F3][F4]
    2026-07-08$431.15/sh−5,296$2,283,370→ 76,241 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F22][F3][F4]
    2026-07-08$432.29/sh−5,079$2,195,601→ 71,162 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F23][F3][F4]
    2026-07-08$433.20/sh−4,009$1,736,699→ 67,153 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F24][F3][F4]
    2026-07-08$434.18/sh−1,675$727,252→ 65,477 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F25][F3][F4]
    2026-07-08$435.23/sh−1,445$628,907→ 64,032 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F26][F3][F4]
    2026-07-08$436.33/sh−1,929$841,681→ 62,104 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F27][F3][F4]
    2026-07-08$437.13/sh−1,409$615,916→ 60,695 total(indirect: Held through SL SPV-2, L.P.)
  • Sale

    Class C Common Stock

    [F28][F3][F4]
    2026-07-08$438.00/sh−144$63,072→ 60,551 total(indirect: Held through SL SPV-2, L.P.)
  • Exercise/Conversion

    Class B Common Stock

    [F2][F1][F3][F4]
    2026-07-08−93,479→ 16,844,290 total(indirect: Held through SL SPV-2, L.P.)
    → Class C Common Stock (93,479 underlying)
Holdings

  • Class C Common Stock

    [F5][F6][F7]
    (indirect: See footnotes)
    150,338

  • Class C Common Stock

    [F8]
    1,374,245

  • Class C Common Stock

    [F9]
    (indirect: See footnote)
    49,237

  • Class C Common Stock

    [F29]
    (indirect: See footnote)
    76,032

  • Class B Common Stock

    [F2][F30]
    (indirect: See footnote)
    → Class C Common Stock (27,020,521 underlying)
    27,020,521
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), 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, 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 SL SPV-2, L.P. The general partner of SL SPV-2, L.P. is SLTA SPV-2, L.P. and the general partner of SLTA SPV-2, L.P. is SLTA SPV-2 (GP), L.L.C.
  • [F30]Following the transactions described in footnote (1), 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, 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 SPV-2 (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.

Documents

1 file
  • 4
    ownership.xmlPrimary

    4