Silver Lake Group, L.L.C. 4
4 · Dell Technologies Inc. · Filed Jul 13, 2026
Research Summary
AI-generated summary of this filing
Dell (DELL) 10% Owner Silver Lake Sells $31.2M in Shares
What Happened
Silver Lake Partners IV, L.P. (a reporting 10% owner and part of the Silver Lake group) converted/received 90,504 shares (conversion of Class B into Class C) and sold a total of approximately 68,706 shares of Dell Technologies on July 9, 2026. The sales were executed in multiple open‑market transactions at prices shown per tranche (individual trade prices listed in the filing ranged from about $448.17 to $460.02), producing aggregate gross proceeds of roughly $31.16 million. The filing shows the derivative/conversion step (Form 4 code M) that produced Class C shares used in connection with the sales.
Key Details
- Transaction date: July 9, 2026; Form 4 filed July 13, 2026 (timely under SEC rules).
- Sold shares (sum of tranches): ~68,706 shares; total reported proceeds ≈ $31,160,825.
- Price range reported across tranches/footnotes: approximately $447.59 to $460.47 per share (each tranche reported as a weighted average and sold in multiple executions; see footnotes F10–F22).
- Conversion/exercise: 90,504-share conversion/exercise of Class B into Class C (reported as derivative transactions, code M).
- Post-transaction holdings for this specific entity are not detailed in this single filing; related holdings and additional transactions for other Silver Lake affiliates are reported on separate Form 4s (see footnotes F23–F24).
- Notable footnotes: multiple weighted-average prices across tranches (F10–F22); footnote F2 explains conversion of Class B to Class C in connection with the sales; reporting is joint across Silver Lake entities (remarks).
- Filing timeliness: Filed July 13 for July 9 transactions — timely under the two-business-day SEC requirement.
Context
These transactions were made by a major institutional/affiliate holder (Silver Lake), not an individual executive — the filing indicates conversion of Class B shares into Class C and subsequent open-market sales. The derivative/conversion plus immediate sales resemble a conversion followed by market disposals rather than a purchase signal; institutional sales can reflect portfolio rebalancing or liquidity needs and do not by themselves indicate company fundamentals. The filing provides weighted-average price ranges and the reporting persons offer to supply per-execution price details on request (per footnotes).
Insider Transaction Report
Form 4
Silver Lake Partners IV, L.P.
Director10% Owner
Transactions
- Exercise/Conversion
Class C Common Stock
[F1][F2][F3][F4]2026-07-09+90,504→ 136,696 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F10][F3][F4]2026-07-09$448.17/sh−631$282,795→ 136,065 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F11][F3][F4]2026-07-09$449.22/sh−2,473$1,110,921→ 133,593 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F12][F3][F4]2026-07-09$450.17/sh−5,536$2,492,141→ 128,056 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F13][F3][F4]2026-07-09$451.08/sh−9,628$4,342,998→ 118,428 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F14][F3][F4]2026-07-09$452.07/sh−12,169$5,501,240→ 106,258 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F15][F3][F4]2026-07-09$453.06/sh−8,314$3,766,741→ 97,945 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F16][F3][F4]2026-07-09$454.10/sh−6,693$3,039,291→ 91,252 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F17][F3][F4]2026-07-09$455.06/sh−7,236$3,292,814→ 84,016 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F18][F3][F4]2026-07-09$456.06/sh−6,170$2,813,890→ 77,846 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F19][F3][F4]2026-07-09$457.08/sh−2,712$1,239,601→ 75,134 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F20][F3][F4]2026-07-09$457.97/sh−2,547$1,166,450→ 72,587 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F21][F3][F4]2026-07-09$459.11/sh−3,043$1,397,072→ 69,544 total(indirect: Held through Silver Lake Partners IV, L.P.) - Sale
Class C Common Stock
[F22][F3][F4]2026-07-09$460.02/sh−1,554$714,871→ 67,990 total(indirect: Held through Silver Lake Partners IV, L.P.) - Exercise/Conversion
Class B Common Stock
[F2][F1][F3][F4]2026-07-09−90,504→ 17,201,003 total(indirect: Held through Silver Lake Partners IV, L.P.)→ Class C Common Stock (90,504 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] - 133,183(indirect: See footnote)
Class C Common Stock
[F23] - 26,434,218(indirect: See footnote)
Class B Common Stock
[F2][F24]→ Class C Common Stock (26,434,218 underlying)
Footnotes (24)
- [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 9, 2026.
- [F10]The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $447.5921 to $448.5400 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 $448.6027 to $449.5350 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 $449.6000 to $450.5975 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 $450.6000 to $451.5971 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 $451.6061 to $452.5981 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 $452.6000 to $453.5905 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 $453.6000 to $454.5900 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 $454.6000 to $455.5994 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 $455.6010 to $456.5944 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 $456.6000 to $457.5933 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 9, 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 $457.6065 to $458.5425 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 $458.6278 to $459.6053 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 $459.6595 to $460.4699 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]Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 89,222 shares of Class C Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 43,961 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.
- [F24]Following the transactions described in footnote (1), SL SPV-2, L.P. directly holds 16,756,126 shares of Class B Common Stock, Silver Lake Partners V DE (AIV), L.P. directly holds 9,310,882 shares of Class B Common Stock, Silver Lake Technology Investors IV, L.P. directly holds 253,083 shares of Class B Common Stock and Silver Lake Technology Investors V, L.P. directly holds 114,127 shares of Class B 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.
- [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.